The PMBOK® Guide monitoring and controlling process group.
Put simply, this is where the performance of the project is measured, action taken based on this performance analysis, and ensure that the integrity of the various project baselines are maintains by ensuring the only approved changes are integrated back into the project management plan.
This process group involves every knowledge area except for human resources and includes activities that relate to monitoring and controlling to ascertain that the plan is working. If actual performance is varying from the plan then corrective action would be taken to bring future results in line with the plan.
At the heart of this process group is where project deliverables are measured, inspected, reviewed, compared, monitored, verified and reported.
The executing process group Carries out the plan, whereas smaller drink and controlling consists of taking the results from executing and comparing those results against the plan. If there are any differences then corrective action is taken either to change the plan itself or the way in which the plan is being executed (or both). The main focus here is to influence future results.
Typical activities involve problem-solving, root cause analysis, and evaluating the impact of change requests. In addition communicating the status of the project to all relevant stakeholders is an important activity here.
The deliverables are inspected for acceptance and work performance measurements checked such performance against baselines.
Earned value analysis will be carried out in particular to calculate estimates from the current time to completion in order to give accurate forecasts.
Quality control is performed and the deliverables are validated.
The project status is communicated to all relevant stakeholders according to the communications management plan, and all risks are monitored and controlled.
If the project includes procurements then these would need to be administered in this process group where the vendor work would need to be inspected to ensure compliance.
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