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, incident log, progress reports, status reports, exception reports, site visits, variance reports, milestone diagrams, questionnaires , sampling and testing, reviews and audits, prototypes and trials, structured walkthroughs, demonstrations, simulations, benchmarking, peer reviews, and earned value analysis. Jim tells me there is often a trade-off between the cost to monitor and the value of the resulting information. Project control should be cost-effective. Therefore, the need to monitor performance may be influenced by considerations such as (Young,