Question

1. Critically discuss the importance of monitoring and evaluation in project management.  

2. According to the characteristics of a project, it is said that a project should have a primary sponsor. Discuss the responsibilities and qualities of great sponsor. 

Answer 1

Answering the first question as per Chegg Guidelines:

1. Project management is a comprehensive task and leads company’s answerability to the customers. Monitoring and evaluation helps in maintaining a constant vigil in the way project is developed and the way it is implemented and keep a check on its performance. Monitoring and evaluation is conducted in every phase of project management and helps in facilitating the efficiency and accuracy of overall project.

Following are the major benefits associated with monitoring and evaluation in project management:

· Constant monitoring and evaluation helps in keeping the project within its scope and facilitates the adherence of the customer requirements. If the customer has specified certain feature, monitoring and evaluation will keep a check on whether this feature is developed as per customer specification. This enhances the customer acceptability rate of the project.

· The project timelines as well as allocated budget can be adhered to using project evaluation and monitoring techniques. If the project is implemented at a slow pace or is going over budget, in such a scenario, project monitoring will raise an alarm and the project management can come up with solution for the same.

· Project evaluation and monitoring techniques facilitate the risk management process of the company. Any kind of risk can be detected in early stage using project monitoring and evaluation techniques and the project team can come up with interventions to solve the same.

· Overall feedback and reporting system of the project gets supported by the project monitoring and evaluation process. Project performance will be continuously monitored and feedback can be given to the process owners for improvement.