The purpose of this project management document is to guide and direct the project monitoring and controlling process.
Monitoring and controlling is where comparing planned to actual takes place for all components such as activities, cost, schedule, quality, and so on, of the project. If there are differences between planned and actual, appropriate members of the project team and stakeholders will determine what changes, corrective or preventive actions, to recommend. The recommendation is usually made by requesting an update or change to the appropriate management plan or other project document through a change request. For example a missed milestone may lead to a recommendation to extend the project schedule.
Change is a constant, so expect monitoring and controlling to generate change requests throughout the life of the project.
The basic steps to be followed for monitoring and controlling are monitor activities by comparing the planned, forecasted, or budgeted data against the actual data on an established schedule. If there are variances beyond the acceptable range, discuss and analyze with appropriate project team members and stakeholders to develop a recommendation. Create a change request and represent, as needed, during change request review process in accordance with change management plan.