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March 28, 2019  SMART is an acronym for Specific, Measurable, Assignable, Realistic and Time-Related. Businesses use SMART to help determine if a goal is viable. The concept was originally developed in 1981 as a way to write meaningful objectives. SMART goals are a popular project management technique. Here’s What We’ll Cover: What Are the Five SMART Goals? Why Are SMART Goals Important? SMART Goals Example How Do You Write a SMART Goal? What Does SMARTER Goals Stand For? What Are the Five SMART Goals?The five SMART goals are as follows: SpecificWhat is the objective? Who are all the stakeholders involved? MeasurableHow do we measure success, specifically? Assignable (sometimes listed as “Attainable” or “Achievable”)Who will lead this initiative? Will this person have enough resources, including manpower, to make this project a success? Realistic (sometimes listed as “Relevant”).Is the goal realistic, with the time and resources available? Does the project outcome align with the business model of the company? Time-RelatedWhen do we expect the intended result by? The SMART acronym was first presented in 1981 by George T. Doran in a magazine article entitled “There's a S.M.A.R.T. way to write Management's Goals and Objectives”. Why Are SMART Goals Important?SMART goals are important because they allow the management of a company to see if an objective can be obtained within a specific time period. This is before resources have been assigned or work has officially begun. The act of writing goals down is also important. Studies have revealed that when goals are written down, they are more likely to be achieved. How Do You Write a SMART Goal?To write a SMART goal, write out each word of the acronym down the left side of a blank page. Start with the word “Specific” and place the subsequent words underneath each other, in order. Leave space on the right to fill in information next to each word. For more on this, see the next section for an example. SMART Goals ExampleHere is an example of SMART goals in action. Cal’s Clothiers is a men’s clothing store in San Diego, California. Cal is attempting to increase the company’s email marketing open rate (open rate refers to the percentage of recipients who’ve opened an email they’ve received).
What Does SMARTER Goals Stand For?The SMART acronym has been expanded in some business circles, to include two more words on the end. SMARTER stands for: SpecificMeasurableAssignable (“Attainable” or “Achievable”)Realistic (or “Relevant”)Time-RelatedEvaluateManagement should evaluate periodically how the project is coming along, and if it still aligns with the original goal. These evaluations can and should be included in the project’s schedule. This will help to ensure the project’s success. Readjust (also known as “Revisited”).The stakeholders should be willing and able to readjust the plan, during the course of the project, in order to keep it on track. At the very minimum, stakeholders will learn what needs to be addressed earlier next time, should the project be repeated (this information should also be part of a post-mortem meeting). RELATED ARTICLES When making goals, it's important to learn about the acronym S.M.A.R.T. It can help you make better goals. Each letter stands for a different area of the goal. If you create a smart goal, you have created a goal that is Specific, Measurable, Actionable, Reasonable, and Timely. Using SMART goals can set you up for success in your goal setting. S - Stands for specific, which means that your goal needs to be spelled out very precisely. Using language that leaves no doubt as to what the goal is, why you want to achieve the goal, and how you will get there is very important. If you are not able to be detailed in your description of the goal, it will be hard to meet it. Take the time to do this part right. M - Stands for measurable, which means that you should be able to use this as a metric for which to determine success. If your goal can't be quantified, then it's not a full goal and you won't know how to tell when you've succeeded. An example of a measurable goal is something like: I want to add 100 dollars per week of income to our bank by writing five 500-word articles each week for a life coach. A - There are different things that I can stand for but it's usually actionable, assignable or achievable. The preference to really get something good done is to make your goal actionable, meaning something where you can do something for each day that will eventually result in an accomplished goal. Goals should also be achievable or you will only get frustrated. Be accurate about the time it takes to reach a goal, and what actions it takes to get there. Also, know who will be responsible for doing it. R - This can stand for realistic or relevant, and either or both are important and are true. If you want your goal to succeed, it should most certainly be something that is realistic or you will fail. It should also be relevant to your life's vision and match with your values. T - Various authors refer to the T in the S.M.A.R.T. acronym as time-bound, timely or trackable. All of these T's are important parts of the goal creating and setting process. If you don't set a time limit and you can't track what is happening, your goal will be hard to quantified or show as achieved. Whichever words you use to help you craft your goals, the important thing is that you need to have a process to help you make smart goals. Smart goals are goals that you follow through on achieving and know when you've met them. Need help? Please message me, together we can hit your goals!
The SMART framework provides the framework for setting clear, attainable goals in project management. The acronym stands for Specific, Measurable, Attainable, Relevant, and Time-bound. A SMART goal incorporates all of these elements to bring greater clarity, focus, and motivation, which help increase the odds of successfully achieving the desired results. What is the History of SMART Goal Setting?The SMART goal-setting approach, commonly attributed to Peter Drucker, a prolific author, and management consultant whose writing helped shape modern business, first appeared in a November 1981 issue of Management Review. Since then, SMART has evolved to facilitate broader interpretations than the original intent. The acronym has even expanded to SMARTER for some to accommodate two additional criteria: Evaluated and Reviewed.
How is it Useful for Product Management?Identifying and establishing goals is an ever-present and significant part of a product manager’s existence. SMART goal setting can help PMs and product teams create realistic, attainable goals and stick to a plan. Cait Porte, the co-founder of Boston Women in Product and force behind Product Manager in Heels, writes: “For product managers, setting goals for your products and roadmaps on a monthly, quarterly and annual basis will help you with your accomplishments and provide the visibility into your work that senior managers are looking for. …Whatever the goal, make sure that it follows the outline of SMART goals, and I guarantee it will be more achievable than if you hadn’t.” Once a PM has a roadmap, SMART goals can help bring clarity, focus, and motivation to actionable tasks. By defining objectives and setting deadlines, PMs are more likely to achieve success. How to Create a SMART GoalHere are the steps to using this framework to create, develop, and achieve a clear, meaningful goal. 1. Specific: Define a clear, specific goal. 2. Measurable: Make sure your goal is measurable to track progress, which helps you stay focused and meet deadlines. 3. Attainable: Create a realistic goal. It shouldn’t be limiting but should be attainable. 4. Relevant: Ensure your goal matters to you and aligns with your other goals and the needs of the organization. 5. Time-bound: Assign a target date so that your SMART goal doesn’t get lost in day-to-day demands. Related terms: Roadmap, Product Strategy, Project Roadmap, Design Thinking, Sprint Goal, Product Vision, Backlog.
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What does each letter in smart goal stand for?
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