What processes are essential for performance monitoring?

The essential processes for performance monitoring are collecting data and analyzing metrics. Collecting data provides the foundational information needed to understand what is happening within an organization or project. This data can include various performance metrics such as productivity rates, financial figures, or customer satisfaction scores.

However, simply collecting data is not sufficient on its own. Analyzing metrics is a crucial next step that allows organizations to interpret the collected data, identify trends, and draw meaningful conclusions. By analyzing the data, management can assess whether performance goals are being met, uncover areas for improvement, and make informed decisions to enhance overall performance. This combination of data collection and analysis enables a comprehensive understanding of performance, which is vital for effective monitoring and improvement strategies.

The other options represent a limited or ineffective approach to performance monitoring. Ignoring performance metrics undermines the ability to track success or identify issues, while focusing solely on historical data does not account for current conditions or future trends that could impact performance. The combined approach of collecting and analyzing ensures a more accurate and actionable understanding of performance.