While the tool will allow you to schedule backwards, there are many reasons why this is not a good methodology. Scheduling backwards using either the “Schedule from Finish Date” or “As Late as Possible” methods is very risky. Basically you will be driving the start date of each task off of the latest finish date and the duration of the task, which means you will wait to start the task until the latest start date possible…and therefore any slip to any task in the schedule is a day for day slip to the project. A better method, in my opinion, is to schedule everything as soon as possible, from the start date of the project. Then put your milestone in with a deadline set for the date you need to hit. This way, your schedule can still move properly left or right with you starting everything on the early start date when possible, but MS Project will warn you when you have breached the deadline that you set on that task. It would probably also be a good idea to baseline that milestone for the date you want to hit so you can watch your finish variance to make sure you stay on your baseline date.