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Project Tracking Method is a complex of techniques and instruments used to control performance or progress of a project in every specific case. The most common matters to be subjected to tracking include project costs, time, resources, scope, quality, and actions. All these matters are controlled by the project managers via staying in touch with the key parameters of the project, measured through monitoring the essential indicators (the key performance indicators – KPIs) demonstrating health of these parameters – their compliance with the project plan or with certain standards set as a gauge of success. There is no formal list of project tracking methods, but usually these methods comprise the following ones:
- Spreadsheets or special tables – whether printed or electronic tables used to collect and compare numbers. Very often are used to carry out tracking by financial matters, or to derive statistics. In a special table a project manager can input results achieved by certain parameters, for example ratios showing the percentage of the budget performance by every project stage or by periods of time (month, quarters or years) to learn how well this project is going;
- Project tracking applications – groupware used for collection and communication of essential parameters by tasks, project stages, employees, etc. With a help of such applications the project managers can easily track performance of activities to supervise practical progress towards the project goals, levels of productivity, efficiency, quality and time;
- Specific techniques, methods, points of focus and means embedded into the established project management methodologies, such as PRINCE 2 and many others;
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