Final answer:
The S.M.A.R.T framework ensures that goals are Specific, Measurable, Achievable, Relevant, and Time-bound. These characteristics provide a clear roadmap for success and aid in efficient planning and tracking of progress toward achieving objectives.
Step-by-step explanation:
The five characteristics of objectives according to the S.M.A.R.T framework are as follows:
Specific: Objectives should be clear and detailed, stating exactly what is expected.
Measurable: Goals need to be quantifiable and progress should be observable and concrete.
Achievable: It is important that the goals set are attainable and realistic, meaning any barriers could be overcome with the right approach.
Relevant: Objectives must align with other goals and make sense within the wider context of what is trying to be achieved.
Time-bound: There should be a specific deadline or target date to focus on for completion of the goal.
With these attributes, goals are more likely to be successful because they offer a clear road map that can be followed. By reflecting on these characteristics and establishing an Action Plan, you can break down your goals into feasible steps and set target dates to monitor your progress. Remember, when planning your future, setting SMART goals is essential to financial decision-making and overall success.