Measuring performance. During project execution, it is important to measure actual progress. Such measurement often involves tools and techniques such as risk log, problem log, change log, accident log, progress reports, situation reports, exception reports, site visits, variance reports, milestone charts, questionnaires, sampling and testing, reviews and audits. prototypes and testing, structured walkthroughs, demonstrations, simulations, benchmarking, peer reviews and earned value analysis. Jim tells me that there is often a trade-off between the cost of monitoring and the value of the resulting information. Project control must be cost effective. Thus, the need to monitor performance may be influenced by considerations such as (young,