ABSTRACT
An enterprise typically measures and compares its overall project performance by quantification through the use of defined metrics. Much of this activity is carried out under the auspices of the overall monitoring and control processes. In some cases, the collection of performance variables is used to compare one organization or project entity versus another. This activity is called benchmarking. In either case, the internal or external measurements that are a defined metric’s role are used to identify gaps in the project or organization versus planned values for that variable. Reaction to gaps between actual and planned (or desired) performance is the focus element that the management uses to establish future corrective actions. In the case of project monitoring, this process must be very dynamic and lies at the heart of the control process.
