Project Monitoring & Evaluation

Overview

Both project monitoring & evaluation can be cornerstones in helping internal project teams responding effectively to the increased expectations that are placed upon them. They can also help organizations operate more efficiently and more profitably.

Call them the twin peaks of continuity – "Project Monitoring" and "Project Evaluation." There are certainly similarities between them, but they are not quite the same processes. Both can be cornerstones in helping internal project Teams responding effectively to the increased expectations that are placed upon them. They can also help organizations operate more efficiently and more profitably.

The concept of Project Evaluation is fairly straightforward: Project Evalution activities on a frequent repeated basis to provide ongoing assurance and more timely insight into risk and control issues.

Project monitoring is also straightforward: It is essentially a process that falls under management’s responsibility, in which key business process transactions and controls are constantly assessed. This permits ongoing insight into the effectiveness of controls and the integrity of transactions running within them.

Project Monitoring Evaluation FAQ's

Are these two separate concepts or merely variations of a theme?
  • There is indeed a primary difference, which is related to ownership of the process. Though both processes are similar and tend to produce similar outcomes, project evaluation – as its name implies – is owned by the project Evluation function and can include any project evaluation process that is repeated regularly.
  • whereas Project monitoring is a process owned by management. Management is responsible for maintaining effective controls systems, so it follows that they should have the primary responsibility for monitoring the effectiveness of controls. They also have the most to benefit from obtaining timely insight into transactions that are the result of fraud, error or abuse.
Why it matters?
  • Project evaluation is used to perform the bulk of regular testing activities. This frees up the project management team to focus on the more critical business risks that may impact the organization. Project Evaluation technologies also give evaluation an indication of risks in the common business process areas. For example, when the volume of control exceptions in the purchase-to-payment cycle is increasing, project Evaluation can then respond in a timely fashion.
  • As far as Project monitoring is concerned, the trend to involve management starts with the requirements imposed by International Best Practices.
  • As far as Project monitoring is concerned, the trend to involve management starts with the requirements imposed by International Best Practices. Another trend emerges when it becomes clear that going through the control assessment process businesses benefit beyond satisfying regulations: by monitoring business process systems and focusing on controls and transactions, businesses could detect errors, fraud, abuse and system inefficiencies on a timely basis.

Our Project Monitoring & Evaluation Expertise Includes



Project Planning

  • Planning the time frame of the project to decide who is going to carry what activities
  • Planning enough financial and human resources to decide from what information the data is going to get collected.
  • Which level of threshold is to be qualified as success
  • Clarifying to the management what is expected of the Project Auditing & Monitoring work, and how the data collected is to be utilized.

Field Work Implementation

  • Developings tools and gather data
  • Recruiting Staff
  • Identifying and organizing existing tools
  • Analysing previous reports if any.
  • Carrying out interviews.
  • Testing new developed tools
  • Implementing the data quantatively and qualitatively.

Analysis

  • Analysis of gathered information
  • Preparing data for Analysis
  • Interpreting results
  • Holding discussion and meetings with project implementation teams
  • Completing data intepretation

Communicate

  • Preparing materials for data divulgation
  • Developing project recommendations and preparing draft report
  • Preparing project results and presenting them to various stake holders of the project.
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