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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.