Stochastic models for software project management

A method for determining the number and characteristics of milestones to be achieved during a development project is presented in order that effective monitors of progress can be provided. Projections of progress data lead to estimates of the completion with determinable accuracy, but accuracy imposes a requirement that the number of milestones be inversely proportional to the estimate-error variance, and that the milestones themselves be defined in such a way that each represents approximately the same level of effort to complete.