Monitoring and Control
The monitoring and control phase is possibly the most important to ensure project success. This phase happens concurrently with the execution phase. This involves the comparison of the status and progress of the project to the actual plan, ensuring that time schedules, costs and quality are aligned as planned. One of the main parts of this phase is corrective action, which includes changes, defect repair, rework or anything necessary to keep the project on track.
Guide: Monitoring and Control in Project Life Cycle (CAPM)
Importance: Monitoring and control in the Project Life Cycle is vital for tracking progress and making necessary adjustments in order to ensure that a project stays on schedule and within budget.
Definition: Monitoring and control involve constantly tracking, reviewing, and regulating the progress of a project. It ensures alignment with the planned objectives, includes identifying potential issues promptly, and taking corrective actions to control the project execution.
How It Works: Monitoring and control usually involve the use of key performance indicators (KPIs) and project management tools to measure the performance of the project in various aspects such as schedule, cost, quality, risks, scope etc. Based on the measurements, adjustments can be made where necessary.
Exam Tips: Answering Questions on Monitoring and Control
- Understand the key concepts of monitoring and control and its role in project management.
- Clearly distinguish between monitoring and control actions.
- Think of practical scenarios where Monitoring and Control apply.
- Understand the tools and techniques used in Monitoring and Control, and how they are applied.
- When answering questions, first identify the problem and then suggest a solution based on the processes and methodologies of monitoring and control.
- Use correct project management terminology.
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