The Monitoring and Controlling Phase is the fourth process of the project management life cycle and involves Monitoring and Controlling Project Work, Integrating Change Control, Scope Verification/Control, Schedule, Control, Cost Control, Quality Control, Management of Project Team. Performance Reporting, Management of Stakeholders, Quality Control, Risk Monitoring and Controlling, and Contract Administration.
Project scope is generally controlled by using a formal change control process.
Project schedule can be controlled by using either the crashing or fast tracking methods.
Monitor and conrol identified risks using the risk response plan and risk register..