What is Project monitoring
You can not establish the status of the project till you monitor the project and monitor to what? Project should be monitored compared to the initial established project management plan which also contains various baselines naming scope baseline, schedule baselines, cost baseline. In the Project monitoring process project work performance data compared with the planned data wrt to quality, time, cost parameters and variance between these established. As we know real life projects do not hand on hand as per the initial plan of the project and variance is inevitable. But establishing these variances is critical for the success of the project.
What is Project controlling
The process of analyzing these variance and effect of these variances on other parameters are done in the controlling part of the process. Corrective action and changes are proposed in the controlling process which can again move project to the right path for completion. In this process there may be updates in the initial project management plan and baselines but these are processed through the integrated change management process.
Effect of proper M&C
A proper project monitoring and controlling process not only deals effectively in the changes of the project but also suggest suitable methods for realigning the project with actual project management plan. This ensures that effect of every variance can be determined on every other parameters of the projects so that decision making process is easy for the project stakeholders.
Tools for M&C
There are various tools are established for monitoring the project in which earned value management (EVM) technique is the best technique which ius used widely for monitoring the project. In this technique project planned value compared with the earned value of the Project and actual cost involved for earning the value. By this it can be established that project is behind/ahead the schedule or expenditure is below/above the plan expenditure.
Various type of reporting formats are being used by us for communicating the status of the Project. This will not only ensure that real pictures presented to the management about the Project but also flagged the critical issue to the management for their attention. It will also show case the forecast for the time and cost for the project based on the current project situation.
What we offer
We involve ourselves in the initiation and planning stage of the project. Due to this we are able to prepare the near actual project baselines and Planned value charts. These baselines and EVM charts prepared in the planning process with proper attention and time will not only ensure that project goes smoothly but also variance will be minimal. Our established process in the Approved project management plan will guide the Project team if any variance occurs during the execution of the project.