Deliverable

A specific output the supplier must hand over, such as a design document, working release, report or training session. Payments are often tied to accepted deliverables.

Related terms

Milestone

A checkpoint in a contract, often tied to a payment, such as “design approved” or “go-live”. Fixed-price software contracts are usually paid by milestone.

Acceptance criteria

The tests a deliverable must pass before the buyer signs it off and pays. Clear acceptance criteria protect both sides on software projects.