PMM Monitoring and Control Phase
Project monitoring and controlling spans all phases of the project management methodology, beginning with initiation and ending with closing.
Project execution essentially involves carrying out and managing all the activities described in the project management plan. Monitoring and controlling basically means collecting project performance data, comparing planned and actual performance, analyzing variances and trends, identifying and assessing potential process improvements, and recommending corrective action as needed. Monitoring and controlling is critical for overall project success.