SMART Goals (Specific, Measurable, Attainable, Relevant, Time-bound)
Abstract
Goals and objectives are deeply inherent in project -, program -, and portfolio management. They are found ranging from overarching business - and strategic goals of companies and organizations, which the project, program, and portfolios must fulfil and be aligned with, to the specific goals of a single project. Consequently, are a goal-setting framework, like SMART goals essential and extremely relevant. The SMART goal framework enables the managers to clearly define and understand the purpose and goals of the project, program, or portfolio. This helps the managers to ensure that the goals they are pursuing are the right one and that the goals will move the project, program, or portfolio in the right direction. Thus, is the SMART goals framework highly applicable in the initiation phase of a project, program, and portfolio, when its goal and purpose needs to be defined.
This article's main focus will be on SMART goals in project management and how it can be utilized for defining the goals and purpose of the project in the initiation phase of a project. However, it is also highly applicable for program managers and portfolio managers and can be utilized in other project life cycle phases since it is highly applicable whenever a goal needs to be defined. Therefore, it can be used during the project's execution to help drive the project forward and help project participants set personal goals and stay motivated.
The applicability of SMART goals in the initiation phase is well-documented, and within research, there is an agreement that projects without a well-formulated goal lack purpose and accountability[1]. Furthermore, does Managing Successful Projects with PRINCE2 [2] define the purpose of the initiation phase as: "to establish solid foundations for the project, enabling the organization to understand the work that needs to be done to deliver the project's products before committing to a significant spend". It further states the context of the initiation phase of a project as: "Initiating a project is aimed at laying down the foundations in order to achieve a successful project. Specifically, all parties must be clear on what the project is intended to achieve, why it is needed, how the outcome is to be achieved and what their responsibilities are, so that there can be genuine commitment to it"[2]. Hence, a clear and commonly understood and agreed upon project goal must be defined during the initiating phase. Moreover, does Guide to the Project Management Body of KnowledgeCite error: Closing </ref> missing for <ref> tag. Nonetheless, are SMART goals widely utilized and popular as businesses have found it to be a clear, simple, and valuable framework for managing and setting up goals, that are easily applicable and give a clear, focused direction [3] [4].
Parts of the literature on SMART goals distinguish between goals and objectives with objectives referring to: "a sub-goal that expresses the desired outcome: a short-term effect or change expected to result from the outputs of activities performed"[1]. Some authors state that such a definition is needed when studying SMART goals as interchangeable usage of the terms leads to unnecessary confusion and is a misnomer [5]
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