Project Integration Managment - Monitor and Control Project Work

• This process allows you to track, review and report the progress to meet the performance objectives defined in the project management plan.
• This allows the stakeholders to understand the current state of the project.
• Items that this process focuses on are:
• Comparing actual project performance to the project management plan
• Assessing performance to see if corrective actions need to be taken
• Identify new risks
• Maintaining accurate documentation
• Provide forecasts to update current costs and schedule
• Monitor implementation of approved changes
• Provide appropriate reporting on progress

Note: Lots of vocabulary to learn here. I highlighted in green and provided explanation where needed. 

Let's look at the Inputs, Tools and Techniques and Outputs

1) Project management plan

• Baselines used to create the project management plan:
• Scope baseline
• Schedule baseline
• Cost baseline
• Plans used to create the project management plan:
• Scope management plan
• Requirements management plan
• Schedule management plan
• Cost management plan
• Quality management plan
• Process improvement plan
• Human resource management plan
• Communications management plan
• Risk management plan
• Procurement management plan
• Stakeholder management plan

2) Schedule forecasts

• Forecast the future of the schedule with where you are with the project today vs. the baselines you set up on the project management plan. 
• Estimate to complete (ETC) - time you estimate it will take to complete the project
• Schedule variance (SV) - difference between the earned value and the planned value
• Schedule performance index (SPI)- ratio of earned value to planned value

3) Cost forecasts

• Forecast the future costs with where you are with the project today vs. the baselines you set up on the project management plan
• Estimate to complete (ETC) - time you estimate it will take to complete the project
• Cost variance (CV) - difference between the earned value and actual costs
• Cost performance index (CPI)- ratio of earned value to actual costs
• Estimate at completion (EAC) - sum of the actual cost to date and the estimate to complete
• Budget at completion (BAC) - sum of all the budgets established for the work to be performed

4) Validated changes

• Any change requests that were approved through the Perform Integrated Change Control process

5) Work performance information 

• This is the performance data that is collected, analyzed and integrated. This data has been transformed into work performance information. This information is correlated and contextualized to provide for project decisions. Examples of work performance information is as follows:
• status of deliverables
• implementation status for change requests
• forecasted estimates to complete

6) Enterprise environmental factors

• The factors outside of anyone's control that would affect the way you manage and control the project work would be:
• Culture and structure of organization
• Infrastructure - existing facilities
• Personnel administration
• Stakeholder risk tolerances - will they allow you to be late on a deliverable? go over budget?  
• Project management information systems
• scheduling software tools
• information collection and distribution system
• online automated systems
• Organizational structure, culture and management practices
• Existing facilities
• Personnel administration such as hiring guidelines or employee performance review

7) Organizational process assets

• The business organization will have many assets that will influence how you manage and control project work that may include the following:
• Standardized guidelines
• Communication requirements
• Issues and defect management procedures and databases
• Process measurement database 
• Project files from previous projects

8) Expert judgement

• The experts you consult with will help you assess the inputs needed to manage and control the project work.

9) Analytical techniques

• Techniques are applied to forecast potential outcomes based on variations and their relationship with other variables. Here are some of those techniques:
• Regression analysis - series of input variables are examined in relation to their corresponding output results in order to develop a mathematical or statistical relationship
• Grouping methods - system of classifying things into groups to help make decisions
• Causal analysis - analyze defects, issues and other problems to identify the cause of it
• Root cause analysis - determine the basic underlying reason that causes a variance or defect or a risk
• Forecasting methods - estimate or predict things in the future with the project using the information you have completed already and expected future performance
• Failure mode and effect analysis (FMEA) - any failure mode is analyzed to determine it's effect on itself or other components. For each failure and estimate is made for its impact on the total system and review is done of the action planned to minimized its effects. 
• Fault tree analysis (FTA) - conditions and factors are that contribute to a undesirable event are organized in a logical way and represented in pictures/charts
• Reserve analysis - determine the essential features and relationships of components in the project management plan to establish a reserve for the schedule duration, budget, estimated cost, or funds for a project
• Trend analysis - uses mathematical models to forecast future outcomes based on historical results (Budget, cost, schedule or scope) 
• Earned value management - methodology that combines scope, schedule, and resource measurements to asses project performance
• Variance analysis - determine the cause and degree of difference between the baseline and actual performance

10) Project management information system (part of the enterprise environmental factors)

• scheduling software tools
• information collection and distribution system
• online automated systems
• automated gathering of key performance indicators (KPI) 

11)  Meetings

• Can be face to face, virtual, formal or informal and the types of meetings can be user groups and review meetings
• You should conduct many meetings to keep everyone informed on what is going on with the project. Documentation of these meetings with meeting minutes will help track discussions and decisions that were made. 

12) Change requests

• If any changes are determined to be made while doing this process you would submit a formal change request proposal. The changes could be requested due to the need for the following:
• Corrective action - realign an activity tot he project management plan
• Preventive action - make sure that future performance is aligned
• Defect repair - modify a nonconforming product
• Updates - changes to project documents, plans etc.

13) Work performance reports

• Physical or electronic representation of work performance information compiled in project documents. They may include: 
• Status reports
• memos
• justifications
• information notes
• recommendations 
• updates

14) Project management plan updates

• After you monitor and control the project work there could be changes need to certain management plans that include:
• Scope management plan
• Requirements management plan
• Schedule management plan
• Cost management plan
• Quality management plan
• Scope baseline
• Schedule baseline
• Cost baseline

15) Project document updates

• Other documents that may need to be updated include:
• Schedule and cost forecasts
• Work performance reports
• Issue log

Source: PMBOK 5th ed.