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Monitoring a Project.
The Project Initiation Document (PID) is complete and the project is launched, we need now to ensure that the project is completed to plan and that it realises the benefits we stated that it should when we wrote the business case.
Divide and conquer.
Rather than tackle the whole project at once it is better practice to divide the activities up into easier to manage stages. The work of each stage can then be handed out to the resources identified in the PID and the monitoring is more manageable.

Another advantage of working with stages is that it prompts for regular reviews at the end of each stage. The review should consist of an evaluation of the stage, i.e. did it produce the expected, specified outputs? We should also look at the original business case - is it still relevant and on track to ensure that the business benefits will be realised?

One outcome of the review, albeit not often utilised, is the option to close down the project. There is often a culture with projects of "we've started and so we will finish!" In some circumstances, i.e. if it can be shown that the project cannot be completed with its business benefits and to plan, then it may be better to cut your losses and stop rather than to lose more by continuing.
Testing for success.
Most likely at the end of each stage and certainly at the end of each project it will be necessary to make a judgement of the project's success, or not. This is where the testing methods and expected results specified at the project initiation stage will prove invaluable. It is difficult to be objective about a projects outcome without predefined acceptance critieria.


Pareto Analysis - for a Project Management view on this technique click here