What are SMART goals? Acronym Explained
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?
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:
Specific
What is the objective? Who are all the stakeholders involved?
Measurable
How 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-Related
When 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 Example
Here 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).
SMART |
Cal’s Clothiers, Email Marketing Program |
Specific |
Goal is to increase email open rate by 20% in January. |
Measurable |
Trackable via current email marketing program. |
Assignable/Attainable/Achievable |
The following will happen:
|
Realistic/Relevant |
Please note:
|
Time-Related |
Please note:
|
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:
Specific
Measurable
Assignable (“Attainable” or “Achievable”)
Realistic (or “Relevant”)
Time-Related
Evaluate
Management 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).
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