In any business, the ability to properly monitor project progress and performance is vital. A properly implemented monitoring system provides managers with critical information about how efficiently and effectively a project is progressing, what obstacles are preventing progress from being made, and what activities need to be improved in order to move toward final goals. Without effective monitoring, managers may become completely oblivious to problems or impediments that might be slowing down or undermining progress. However, effective monitoring can provide managers with the tools they need to make sure their projects meet their objectives, are moving in the right direction, and are meeting the necessary deadlines.
Why Need Project Performance Monitoring and Its Importance for Managers
Many different types of monitoring exist in today’s business world. Project management is typically the process of tracking and controlling project progress and implementation. When properly executed, a project monitoring system can provide project managers with an accurate depiction of where projects are in relation to both planned and estimated completion dates. Monitoring performance and monitoring project progress and performance throughout all stages of a project help ensure that management processes and project delivery strategies are adhered to and that all components of a project are operating at maximum efficiency.
For some projects, there may not be a need for full monitoring of these key areas. Some are self-explanatory and do not require the comprehensive scope of a monitoring system to provide an understanding of progress, setbacks, and issues that management must be aware of and address as they arise. Other monitoring systems may require management to conduct interviews, surveys, and questionnaires in order to gain a deeper understanding of key factors that impact project management processes. The type of monitoring required will depend upon the nature and focus of the project. Regardless of whether the monitoring involves interviewing management staff, conducting fieldwork surveys, or asking staff to complete questionnaires, gathering the data necessary to support management’s projects’ goals and objectives is essential to effective project management.