What is meant by "establishing project goals"?

Prepare for the AACE PSP Certification Exam with flashcards and multiple-choice questions. Enhance your knowledge with explanations and hints. Get exam ready today!

Establishing project goals involves defining high-level outcomes and priorities that the project aims to achieve. This step is crucial as it provides a clear direction for the project and aligns the team's efforts with the overarching objectives of the organization. By setting these goals, stakeholders can ensure that everyone involved understands the end vision and what constitutes success for the project.

These goals typically focus on what the project intends to accomplish, such as delivering a certain product, meeting customer satisfaction levels, or improving a process. Having well-defined goals helps in guiding decision-making throughout the project, shaping project plans, and prioritizing tasks and resources effectively.

In contrast, aspects like setting specific timelines, identifying resources, or developing cost estimates, while important for overall project management, are tactical elements that focus more on the execution plan rather than establishing the foundational vision and success criteria of the project itself. Establishing project goals provides the necessary context for these tactical decisions.

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