Once the project is under way, the Monitor stage keeps you on track. During this stage you deal with changes, problems, and unexpected circumstances. Compare the time, cost, and performance of a project against its expected position and then make adjustments to activities, resources, or the plan to keep on track.
Project monitoring includes the following key elements:
Track changes to the project scope to avoid scope creep and to ensure that you will be delivering those items you set up to deliver at the start of the project
Monitor the project schedule and budget and adjust plans as needed to meet the project goals
Track project quality, including defects, issues, and progress against the quality plan
Mitigate project risks, ensuring that contingency plans are executed and working
Manage the project team so that they stay focused on priority items and avoid speed bumps due to conflicts
Perform timely and accurate project performance reporting to the stakeholders, and manage stakeholder expectation appropriately
Manage vendor contracts to ensure proper fulfillment and payments
