Exit Criteria are program-specific accomplishments that must be satisfactorily demonstrated before a program can progress further in the current acquisition phase or transition to the next acquisition phase.
For a list of mandatory items due at Milestone A,B & C, see the Milestone Requirements Matrix
Exit criteria are normally selected to track progress in important technical, schedule, or management risk areas. They serve as gates that, when successfully passed or exited, demonstrate that the program is on track to achieve its final program goals and should be allowed to continue with additional activities within an acquisition phase or be considered for continuation into the next acquisition phase. Exit criteria are some level of demonstrated performance outcome (e.g., level of engine thrust), the accomplishment of some process at some level of efficiency (e.g., manufacturing yield), or successful accomplishment of some event (e.g., first flight), or some other criterion (e.g., establishment of a training program or inclusion of a particular clause in the follow-on contract) that indicates that aspect of the program is progressing satisfactorily. 
Exit Criteria Checklists, Questions and Guidelines:
- Preliminary Design Review (PDR) Exit Criteria
- System Functional Review (SFR) Exit Criteria Questions
- Systems Requirements Review (SRR) Exit Criteria Questions
Entrance criteria are the minimum accomplishments required to be completed by each program prior to entry into the next acquisition phase or effort. They are documented in the Acquisition Decision Memorandum (ADM) and are normally set by the Milestone Decision Authority (MDA).
AcqLinks and References: