Monitoring and controlling processes continuously track, review, adjust, and report on the project’s performance. It is important to know how a project is performing, whether it is on time, and make any necessary changes. This will ensure that the project stays on track, within budget, and on time.

What is project control?
According to the PMBOK(r), Project Control (the Project Management Body of Knowledge) is “project control” which refers to comparing actual performance with planned performance, taking corrective action (or directing other people to take this action), that will result in the desired outcome in a project when there are significant differences.
Project controls are basically a set of tools that help to keep a project on track. They combine project experience and people skills to provide information that allows for accurate decision making. The main focus of project control is:
Measuring actual performance vs. planned performance
Continuous assessment of project performance to identify any corrective or preventive actions.
Maintain accurate and timely information based upon the output of the project and any documentation.
Information that supports status updates and forecasting, as well as measuring progress.
Forecasts that reflect current costs and project schedules.
Monitoring the implementation of any approved schedule or schedule amendments.

Important importance of project monitoring and controlling
Projects can be monitored and controlled to ensure they stay on track. The right controls can make a big difference in completing projects on schedule. Project managers can also make informed decisions based on the data they have gathered. They can capitalize on opportunities, make changes, and avoid crises management issues.
Simply put, monitoring and controlling ensures seamless execution of tasks. This increases productivity and efficiency.
Monitoring and control method
Before you can set up the monitoring and control processes for a project, it is important to establish the baselines. This includes the scope, schedule, and budget. This information can be used to track the project’s progress through its lifecycle.
To break down a project into smaller units of work or sub-tasks, use a Work Breakdown Structure. This makes it easier to manage and assess the work. This allows for quicker detection of problems, better project control, and easier verification of progress. This helps team members feel less overwhelmed.

Once you have a WBS, you can follow this sequence throughout the project’s lifetime.

Monitoring and control techniques
Project managers can use a variety of monitoring and controlling techniques, including:
A Requirements Traceability Matrix. This map or trace the requirements of the project to the deliverables. The matrix links the two baseline documents. This makes it easier to see the project’s tasks. This prevents the addition of new tasks or requirements to the project without approval.
This makes it easier to see the tasks assigned to the project. This prevents the addition of new tasks or requirements to the project without approval.
A control chart monitors project quality. A control chart can be either univariate or multivariate. It displays one project characteristic.
Status and review meetings are used to further analyze problems and determine why they occurred. They can also be used to highlight potential issues that may arise in the future.