Discuss the importance monitoring and evaluation in project management ( 10 marks)
Monitoring and evaluation gives a consolidated place where information can be obtain to check on the progress of the project. Knowing the progress of the work will assist the whole project team to be ready to progress to the next phase of the project. It gives the team managing the project an insight on how the project is going on and the team will be able to validate if the project is going according to schedule.
The process of monitoring and evaluation allows the team to learn from from more experienced team members. In the process it allows the team to build expertise and knowledge required while still handling the project. The project team will be able to be more qualified and at the same time handle the active project perfectly. These gives the project management team an easier job of managing the project.
Evaluation and monitoring allows the transparency and accountability to be developed. These two vices are very important while developing a successful project because the project management team has trust to his or her team that they will handle a perfect job. Also the available materials due to transparency makes it easier for the project team to have access to knowledge.
The process of monitoring and evaluation give the team a clear path to identify where the error happened. The clear path to where mistakes was done while developing the project makes it easier in tracking back and removing the mistake which was done in earlier stages. These process also allows the project team to learn about the mistake which was committed in that process it makes it hard for the team to repeat the same mistake in the near future.
Monitoring and evaluation gives the opportunity for questioning project assumptions made. These opportunity which makes the project team to be able to run a test for modules. In that process removing modules which might be out of place or doing redundant fuctionality. It allows the project team to clean up the project by removing parts of the project which are not in line with the project requirements.
Explain the key component of monitoring and evaluation system ( 10 marks)
Monitoring and evaluation of human capacity. For a perfect monitoring and evaluation implimentation needs the team to have enough human labour. The monitoring and evaluation requires the unit tasked with the task to have enough knowledge and technical understanding about how monitoring and evaluation process works. The human capacity should be able to do a proper job which is required in the monitoring and evaluation process.
Another important key component is the monitoring and evaluation logical framework. These component allows the understanding of the fuctionality of the process of the project such as input, outputs, indicators and other process which makes up the project. These component links the project goals to the actual process of development which makes it possible for the project team to measure the delivarable of the project.
Monitoring and evaluation work plans and costs is another important component in the system. These component allows the project team to come up with a project schedule which the experts in different parts of the project have to follow the schedule to finish the project. The budget or cost of each of the project process is computed aand also the resources needed to facilitate the project is taken into consideration. A total of each of the process costs and the facilities required are computed and submitted to the project owner or the project sponser.
Culture and communication of the monitoring and evaluation system. These is a very vital component because the team should be able to communicate with one another to be able to run the process of developing the system well. These component also covers for the policies of the organization because each organization has policies which should be communicated to the project team. Also strategies are developed so as to come up with a plan on how to handle the project development process.
Their should be a proper monitoring plan. The project process should be monitored closely by a team tasked with the work. The team should come up with a plan of collecting data from the project development process through time intervals known only by the monitoring team. The process should be able to get anomalies which lies in the project development processes. The main aim of these component is to make sure the project modules were developed as required by standards set up and also as per the user requirements.
Discuss factors to consider when carrying out project monitoring ,control and evaluation
The team doing the project checks should take into account whether the project process is as per the user requirements. The team tasked with the work should ensure that they confirm that the project development is in the right track. The project should be as per the user requirements since he or she is the person who procured for the development to be undertake. The team should respect and follow the user requirements while developing the project and the team tasked with monitoring, control and evaluation should ensure that the user requirements are abidded to.
Another factor which is for importance to the monitoring team is to ensure that the project development team use the international standards set for developing such projects. The development team should be able to use pre-existing standards which define how development processes are to be undertaken by the team. They should not invent their own methodologies on developing the project they should use existing once.
The other factor which should be taken into consideration is work schedule. The team tasked should ensure that the developing team are using schedule. The project development should correspond with the time schedule which has been established. The monitoring, control and evaluation team should be very crucial about these factor because failure to do so can result in late delivery of the project which might result In the project being turned down by the person/s who procured for the project.
HEMH3107/HECG3103/HEPL3107/HEE 3107 ECONOMICS
Assignment
Assume a consumer spends all his income in the purchase of two goods X and Y whose prices are Ksh. 90 and Ksh. 120 per unit respectively. The consumer's monthly income is Ksh. 20000. He is satisfied with the various combinations of X and Y but prefers to spend his income in equal proportions on the commodities that is at a ratio of 1:1 to maintain his level of satisfaction.
a)Using clearly labeled diagram
i)Show the relevant budget line and indifference curves indicating the equilibrium position of the consumer
Using the equation
90X + 120Y = 20,000
We arrive at the following values.
Quantity of good X Quantity of good Y
222.22 0
0 166.67
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