Why is it important to establish project milestones?

Establishing project milestones is critical as they serve as checkpoints that help measure progress toward project goals. Milestones provide tangible markers that indicate significant phases or achievements within the project timeline. By setting these milestones, project managers and teams can monitor whether the project is on track and make necessary adjustments if there are deviations from the planned schedule.

Additionally, milestones facilitate communication among stakeholders, as they serve as a common reference point to discuss progress and potential challenges. They help in evaluating the project's health and can trigger decision-making processes such as resource allocation or identifying the need for corrective actions. This structured approach ensures that the project stays aligned with its objectives and can be completed successfully.

The other options do not align with the primary purpose of milestones. Finalizing budget approvals is part of the planning process but not a direct function of milestones. Milestones aim to simplify and clarify project delivery, rather than increase complexity and scope. Defining an end date is also important, but milestones are more about tracking progress and ensuring that specific project phases are completed on time.