Source: Project Monitoring and Control – techniques to control budget, status and planning https://www.stakeholdermap.com/project-management/project-monitoring-and-control.html 

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Monitoring and control techniques can be split in to three areas: project plan monitoring, project budget monitoring, monitoring through regular status and/or stage reporting and monitoring carried at different levels by the project team. This guide gives an overview of each area and describes key project monitoring techniques. Monitoring and control techniques are defined in the Project Initiation Document (PID). Read an overview of the PID, guidance on completion of the monitoring section of the PID.

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