In: Finance
Discuss a few reasons why using the SMART acronym contributes to the success of a program/intervention.
SMART acronym is used for defining the goal in a proper manner by allocation of different meaning to each of the specific element of SMART framework.
A. Specific- smart framework will be always trying to define the goal specifically. the goals must always be a specific in nature and they should never be ambiguous and there should always be certain action to achieve something so the goals must be a specific in nature in relation to a particular project.
B. Measurable- goals associated with the particular program must be undertaken in order to achieve something and that should be measurable and their progress can be checked regularly
C. Achievable- These goals must be achievable in nature and there should not be any kind of impossibility in order to achieve these goals
D. Relevant- these programs must be relevant in nature and they should be valid and they should not be invalid in nature so they can be properly associated with the relevance in respect to the organisation.
E. Timely- These projects must be accomplished within time period and their progress can be thoroughly checked upon so they must be interpreted in the terms of time period.