SMART (Specific, Measureable, Achievable, Realistic, Time-bound)

SMART is an acronym used in procurement and other business activities to ensure objectives are specific, measureable, achievable, realistic, and time-bound. By adhering to the SMART framework, organizations can set attainable goals and identify milestones that will enable them to monitor progress in order to stay on track and reach their ultimate objectives. This approach provides transparency into the status of projects and initiatives, enabling teams to adjust their strategies as needed to ensure successful outcomes.