Currently the focus of our attention is on small software companies, but we believe that the milestone-based approach would be beneficial to projects in any industry. Milestones bring visibility - the project route is explicitly defined, everyone on the team sees where the project is headed. The other advantage is flexibility - since the project is divided into smaller parts, it's easier to spot problems as they arise.

Of course, this approach is not for all use cases. For example, it won't work for very short projects - too much hassle setting up all those milestones.