This function only exists on the Goal module.
The timeline of the actions made on an objective, as an update or a modification of its settings, is available on its dedicated page.
On the list of objectives of the profile page, click on the title of the relevant objectives:
Then, you will find the actions made on the objective in the Timeline section.
The author, date and nature of the update will be indicated.
You can also add comments to the updates made, that will be saved in the same Timeline.