What do you mean by the term project milestone, Business Economics

What do you mean by the term project milestone? How would you decide how many milestones to demonstrate on your project plan?

Project milestone:

A milestone is a point at that progress onto the project can be measured. To be helpful milestones must be attached to the completion of important deliverables, as like the acceptance of a Requirements Specification. There requirement to be adequate milestones onto a project plan to permit for adequate control but not so many that their consequence is decreased.

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