Project management is like an art. If you want to attract people’s attention in the theatre play, your play must be specific, realistic, and time-bound because people are coming there to see something new, different things. Today’s global world demands to be punctual in both theatre play and project management, if you do not finish your play on time, everyone will leave the event and you wil not get the best result from this event. It is the same in the PM, too, if you do not finish the project on time, it means that you will loose your reputation and at the same time money.

            Specific: The goal should target a specific area of improvement or answer a specific need (1). To be specific in project management helps people who have basic details about the project to understand and somehow analyze it. If you want to manage the project efficiently, everething must be well defined and clear enough beforehand (2).

            Measurable: The goal must be quantifiable, or at least allow for measurable progress (1). To be measurable means that before you start any project, you should know that this is possible to do or not. If yes, when you will be able to achieve your goals and now where you are.

            Agreed upon: The goal should be realistic, based on available resources and existing constraints. There must be an argreement with all the stakeholders that what goals will be realised during the project period.

            Realistic: The goal shoul be realistic about availability of recources, knowledge, and time. As SMART goals demands project must be realistic because if any company promises to finish the project with more than available resources, knowledge, time, and he can not finalize it on time or at all, it mean that the reliability of company is diminishing day by day.

            Time-bound: The goal must have a deadline or defined end. Studies show if there is a deadline of the project, all the workers are trying to do their best effectively. The reliability of the time-bound ensures all the stakeholders that their investment will be sufficient or not.

Preferences

1. https://www.wrike.com/project-management-guide/faq/what-is-smart-in-project-management/
2. https://www.projectsmart.co.uk/smart-goals.php