Project Planning Techniques Book (with CD)

7 Progress Monitoring

Monitoring project performance is essential to keeping the project manager informed of the status of the deliverable. Data collected during the process is crucial in managing the issues and circumstances that will be brought on by the inevitable changes to the project.

The focus and emphasis of project progress monitoring is fundamentally different from traditional cost accounting. Cost accounting by and large deals with issues involved in reporting the expenses to the correct components of the established budget cost centers and account codes. Cost accounting focuses on collecting accurate actual cost information with specific attention to the elements of the code of accounts; project progress monitoring, on the other hand, ...