What are 'Critical Milestones' in the project schedule?

'Critical Milestones' in a project schedule refer to significant points in time that represent key achievements or deliverables needed for the project progress. The correct answer highlights that these milestones are crucial because, when not met, they can trigger liquidated damages for the contractor. This means that if a contractor fails to meet these timelines, they may face predetermined financial penalties, making them essential for maintaining accountability and ensuring the project remains on track.

These milestones serve as critical checkpoints throughout the project lifecycle, often determining the overall success and completion of the work. They are unquestionably pivotal for project management, as they help stakeholders keep track of progress and enforce contractual obligations related to performance.

The other options do not accurately capture the importance and implications of critical milestones in project scheduling. They either suggest a lack of necessity for the milestones or focus solely on evaluations rather than their contractual significance and potential repercussions for non-compliance.