Milestones are key events in a residential construction project that indicate major accomplishments and progress. These milestones typically mark the completion of significant stages or phases in the building process, such as excavation work or the installation of wiring and plumbing. Milestones can also signify when portions of a build reach their halfway point or other important phases, providing clear timing for future activities related to the project.
A few examples of milestones in construction projects may include:
- Project Kickoff: This is when the project officially begins after the necessary approvals and permits have been acquired.
- Frame Completion: This is when the basic frame of the house is completed, giving the construction its shape and form.
- Roof Installation: This marks the covering of the structure, providing protection from weather conditions.
- Exterior Finishing: Achieved when the exterior walls, doors, and windows are all in place.
- Interior Finishing: This milestone is reached when drywall is in place and painted, and fixtures and appliances are installed.
- Final Inspection: This is the last major milestone, where the completed project is inspected for compliance with building codes.
- Handover: The final milestone, where the completed property is handed over to the owner.
Often times, key milestones can be also be aligned with the payment structure of a project.