Performance monitoring techniques in project management
The objective of using performance monitoring techniques as a key element in the management of projects is to:
- Provide the management of the EA, the borrower and the Bank with an effective means of measuring the progress of a project, its components, and the adequacy and timeliness of the provision and use of funds.
- Regularly assess the achievement of or the potential for achieving technical, financial, and economic goals of the project.
- Determine the form and nature of corrective actions necessary to achieve goals monitored by performance indicators.
- Assist in defining new or modified performance measures that may be more effective, and to replace any that may be ineffective.