How to Set SMART Goals: Examples & Template | TeamGantt

Summary

This video explores the importance of setting clear and actionable goals using the SMART framework—specific, measurable, achievable, relevant, and time-bound. It highlights the challenges individuals and teams face in meeting their goals, citing studies showing a high failure rate in goal achievement. The video emphasizes the need for detailed goal-setting and the value of breaking down goals into manageable, realistic steps. By applying SMART criteria, individuals can avoid confusion and set themselves up for success, improving their chances of meeting their objectives both personally and professionally.

Takeaways

• 😀 Setting goals is crucial for growth in personal, career, and daily work life, but many of us struggle with achieving them.
• 📊 Studies show that 17% of projects fail, and 32% miss their goals, reflecting a common trend of goal-setting difficulties.
• ❓ The key to successful goal-setting lies in exploring and benchmarking goals thoroughly before committing to them.
• 📝 SMART goals are objectives that meet five criteria: specific, measurable, achievable, relevant, and time-bound, which helps in setting clear and actionable goals.
• 🔍 Being specific about a goal helps remove ambiguity and allows for a clear understanding of what needs to be accomplished.
• 📏 To measure your success, choose quantifiable metrics, such as numbers, percentages, or dollar amounts, to track progress.
• 💡 Goals should be realistic and achievable. Avoid setting goals that are out of reach, and consider constraints like time, resources, and team size.
• 🎯 Clarifying why a goal matters helps maintain focus and ensures the goal aligns with personal or organizational priorities.
• ⏳ Time-bound goals with deadlines keep everyone on track and foster a sense of urgency, creativity, and accountability.
• 💼 SMART goals can vary across projects, teams, and individuals, but they should always adhere to the five criteria to remain clear and actionable.
• 📈 Using SMART goal templates can help individuals and teams continue progressing towards success with greater clarity and confidence.

Q & A

Why do so many projects fail according to the 2017 Project Management Institute study?

According to the 2017 Project Management Institute study, 17% of projects fail. Even more concerning, 32% of the remaining projects miss their goals, highlighting the common issue of goal-setting challenges in project management.

What percentage of people fail to meet their New Year's goals, according to the University of Scranton study?

The University of Scranton study found that 92% of people fail to meet their New Year's goals, which emphasizes the difficulty many individuals face in achieving their personal objectives.

What is the SMART goals framework?

The SMART goals framework is a method for setting clear, actionable objectives. SMART stands for Specific, Measurable, Achievable, Relevant, and Time-bound, each representing a key criterion to guide goal-setting.

How does setting specific goals help in the SMART goals framework?

Setting specific goals helps remove ambiguity by clearly defining what needs to be accomplished, who is responsible, and where and how the work will be done, ensuring the goal is actionable and realistic.

What does the 'measurable' criterion in SMART goals entail?

The 'measurable' criterion in SMART goals requires defining how success will be tracked. This could involve tracking numbers, percentages, or other quantifiable indicators to measure progress toward the goal.

Why is it important for a goal to be achievable?

It is important for a goal to be achievable to ensure that it is realistic and within reach. Setting an unachievable goal can lead to frustration and failure. Achievability should take into account potential constraints like time, resources, and team capabilities.

How does the 'relevant' criterion contribute to SMART goals?

The 'relevant' criterion ensures that the goal aligns with broader personal or organizational objectives. It helps clarify the importance of the goal and its potential impact, ensuring that efforts are directed toward meaningful and valuable outcomes.

What role does the 'time-bound' criterion play in SMART goals?

The 'time-bound' criterion ensures that goals have a clear deadline, creating a sense of urgency and accountability. It helps keep everyone focused on achieving the goal within a specific timeframe, which drives motivation and effective planning.

Can SMART goals be adjusted if unexpected challenges arise?

Yes, SMART goals can be adjusted if unexpected challenges occur. The framework encourages regular assessment, allowing adjustments to be made to goals or tactics without derailing overall progress.

What is an example of a SMART goal for a project manager?

An example of a SMART goal for a project manager could be: 'Increase the team's widget production by 10% over the next quarter through process improvements and better resource allocation,' which is specific, measurable, achievable, relevant, and time-bound.