Project Monitoring & Controlling
What is Project Monitoring & Controlling?
Project Monitoring & Controlling is the fourth phase of the project lifecycle. It involves tracking project progress, ensuring alignment with the plan, identifying risks, making adjustments, and ensuring quality standards are met.
🔹 Key Question: “Is the project progressing as planned?”
🔹 Objective: Ensure project success by measuring performance, controlling risks, and making corrective actions.
Key Activities in Project Monitoring & Controlling
1. Track Project Performance & Progress
- Monitor Key Performance Indicators (KPIs) to evaluate project health.
- Compare actual progress vs. planned progress.
- Identify early warning signs of delays or risks.
📌 Common KPIs:
✔ Schedule Variance (SV) → Measures if the project is on track.
✔ Cost Variance (CV) → Determines if the project is over or under budget.
✔ Task Completion Rate → % of completed tasks vs. total tasks.
✔ Resource Utilization → Measures how efficiently team members are working.
📌 Example KPI Tracking Table:
| Metric | Planned Value | Actual Value | Variance |
|---|---|---|---|
| Task Completion % | 50% | 40% | -10% (Behind Schedule) |
| Budget Used ($) | 30,000 | 35,000 | +5,000 (Over Budget) |
2. Manage Scope (Avoid Scope Creep)
Scope Creep = Uncontrolled changes or additions to the project scope.
✔ Solution:
- Implement a formal Change Control Process.
- Ensure stakeholders agree on any changes before implementation.
- Use a Scope Management Plan to track approved vs. unapproved changes.
📌 Example Change Control Process:
1️⃣ Change Request Submitted → Team or client requests a new feature.
2️⃣ Impact Assessment → Analyze effect on budget, timeline, and resources.
3️⃣ Approval/Rejection → Decision by Project Manager & Stakeholders.
4️⃣ Implementation → Update the project plan & communicate changes.
3. Monitor Budget & Cost Control
- Compare planned budget vs. actual spending.
- Use Earned Value Management (EVM) to track financial performance.
📌 Cost Variance (CV) Formula: CV=Earned Value (EV)−Actual Cost (AC)
✔ CV > 0 → Under Budget
❌ CV < 0 → Over Budget
📌 Example:
If the project was supposed to cost $50,000 but has already spent $55,000, the cost variance is -5,000 (over budget).
✔ Solution:
- Identify unnecessary expenses and reallocate resources.
- Negotiate with vendors for cost optimization.
- Add contingency funds (10-15% extra budget for risks).
4. Schedule Monitoring & Adjustments
- Compare planned vs. actual project timeline.
- Use Gantt Charts, Milestones, and PERT Charts to track deadlines.
📌 Schedule Variance (SV) Formula: SV=Earned Value (EV)−Planned Value (PV)
✔ SV > 0 → Ahead of Schedule
❌ SV < 0 → Behind Schedule
📌 Example:
- Planned Work Completion by Week 4 → 50%
- Actual Work Completed by Week 4 → 40%
- SV = -10% (Project Delay Detected!)
✔ Solution:
- Reallocate resources to high-priority tasks.
- Increase working hours or hire additional help.
- Adjust non-critical deadlines to maintain balance.
5. Risk Monitoring & Issue Management
- Continuously monitor risks and update the Risk Register.
- Resolve issues proactively before they escalate.
📌 Example Risk Register:
| Risk | Impact | Likelihood | Mitigation Strategy |
|---|---|---|---|
| Data Loss | High | Medium | Cloud backup system |
| Developer Resigns | High | Low | Cross-training team members |
| Budget Overrun | High | High | Cost control measures |
✔ Solution:
- Hold weekly risk assessment meetings.
- Set up early warning alerts for financial and timeline risks.
6. Quality Control & Compliance
- Perform regular quality checks to ensure deliverables meet standards.
- Conduct internal audits, testing, and client reviews.
📌 Example Quality Control Checklist:
✅ Unit Testing → Code functions correctly.
✅ Integration Testing → Modules interact properly.
✅ User Acceptance Testing (UAT) → Clients validate functionality.
✅ Security Testing → No vulnerabilities.
✔ Solution:
- Use automated testing tools (e.g., Selenium, JIRA, SonarQube).
- Conduct peer reviews and code audits.
7. Communication & Reporting
- Provide weekly project status updates to stakeholders.
- Use dashboards and reports to visualize progress.
📌 Example Status Report Format:
| Category | Details |
|---|---|
| Overall Status | 🟡 At Risk (10% delay) |
| Budget Used | $50,000 (90% of allocated budget) |
| Risks Identified | Scope creep risk due to new client requests |
| Next Steps | Adjust timeline and allocate extra resources |
✔ Solution:
- Schedule weekly check-in meetings with stakeholders.
- Use email updates, dashboards, and real-time reports.
Project Monitoring & Controlling Tools
✔ Microsoft Project → Gantt charts & scheduling.
✔ JIRA / Trello → Task tracking.
✔ Slack / Zoom → Team communication.
✔ Google Sheets / Excel → Budget tracking.
Example: Monitoring & Controlling an E-Commerce Website Project
📌 Project: Develop an online fashion store.
📌 Budget: $100,000.
📌 Timeline: 6 months.
🔹 Current Status (Month 3 Update):
✔ Task Completion: 45% (vs. 50% planned → Slight delay 🚨).
✔ Budget Used: $55,000 (vs. $50,000 planned → Over budget 🚨).
✔ Key Risk: Payment gateway integration delayed.
✔ Corrective Actions Taken:
- Hired an extra developer to speed up backend work.
- Shifted 10% of the budget from marketing to development.
- Adjusted timeline to recover lost time in Month 4.
Common Challenges in Project Monitoring & Controlling
| Challenge | Solution |
|---|---|
| Scope Creep | Implement strict change management. |
| Missed Deadlines | Use Gantt charts & real-time tracking. |
| Budget Overrun | Regular cost tracking & budget reallocation. |
| Poor Communication | Weekly meetings & dashboards. |
| Unidentified Risks | Frequent risk assessments & contingency planning. |
Conclusion
Project Monitoring & Controlling is crucial for keeping a project on track. By tracking progress, managing scope, monitoring costs, mitigating risks, and ensuring quality, project managers increase the chances of project success.
✅ Key Takeaways:
✔ Track KPIs (Schedule & Cost Variance).
✔ Manage Scope & Budget (Avoid Scope Creep & Cost Overruns).
✔ Control Risks & Quality (Regular audits & testing).
✔ Ensure Clear Communication (Weekly reports & meetings).
About the Author
