The SMART acronym is a widely used framework in management and procurement for setting clear and effective objectives, goals, or Key Performance Indicators (KPIs). Each element ensures that objectives are well-defined and trackable.
Specific: The goal is clear, unambiguous, and answers the "W" questions (Who, What, Where, Why).
Measurable: The goal includes quantifiable metrics to track progress and success.
Achievable: The goal is realistic and attainable given available resources and constraints.
Relevant: The goal aligns with broader business strategies and organisational objectives.
Time-bound: The goal has a defined start and end date, creating a sense of urgency.