Dictionary of Procurement Terms

Welcome to the NIGP Online Dictionary of Procurement Terms, the comprehensive reference for public purchasing terms and concepts.

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Search Results: 1-2 of 2 results for “Milestone”
  • Milestone

    An event or action that marks a clear stage or change in the progress or development of a project. See also: Deliverable.
  • Milestone Payment

    A sophisticated form of progress payment that shifts risk by tying payments to the successful completion of predetermined work that is deemed a significant indicator of progress toward contract completion.
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