There are four stages involved in measuring the performance of the project: Monitor, Assess, Resolve and Communicate. Monitoring the project means that the project manager should always and continuously have control over the performance of the project, project monitoring is important to keep the project under control.
Project management is a concept which has both benefits and limitations and it is important for the management to consider both sides of the project management. Project Management gives you a clear and a well defined scope of the project which helps in better communication and distribution of responsibilities among the members of the project and then everybody knows what to be done.
Project Management Body of Knowledge (PMBOK) consists of the nine management functions, Scope - Project scope means that the aims, goals, objectives and donor of the project should be defined, other functions are cost, time, Human Resource, Communication, quality, Contract procurement, risk, project integration
Project management is defined as managing and directing time, materials, personnel/labor, and costs to complete a project in an orderly, economical manner and to meet the established objectives of time, costs and technical’s and or service results. A successful project using project management will have the following three stages Planning, Scheduling & Controlling