What must be monitored during the controlling phase of project management?

During the controlling phase of project management, monitoring budgets and resource allocation is crucial because this phase focuses on ensuring that the project remains on track in terms of its financial and physical resources. Effective monitoring involves comparing actual performance against the project plan, which includes verifying whether resources are being utilized effectively and if the budget is being adhered to. This allows project managers to identify any variances early on, making it possible to implement corrective actions to keep the project aligned with its objectives.

Maintaining oversight of budgets ensures that the project does not exceed its financial limits, while careful monitoring of resource allocation promotes optimal use of materials, personnel, and finances. This systematic check contributes significantly to the overall success of the project, as it asserts control over the factors that can influence project timelines and deliverables.

This focus on financial and resource management differentiates it from other aspects, such as team member performance, location coordination, or historical data analysis, which, while important, do not capture the immediate need to manage and control the project's viability in real-time.