Understanding Monitoring and Evaluation: Key Concepts and Importance (Full Transcript)

Speaker 1: So, what is Monitoring and Evaluation? We can see M&E stands for Monitoring and Evaluation and it consists of two different words, Monitoring and Evaluation. So, let's define these two different words first. As per the OECD, Monitoring is defined as a continuous function that uses systematic collection of data on some specified indicators to provide management and the main stakeholders of an ongoing development intervention with indications of the extent of progress and achievements of objectives and progress in the use of allocated funds. In simple terms, we can understand Monitoring as regular collection of information and data to measure progress of projects and activities so we can track performance and resource utilization over time. Evaluation on the other hand is defined as the process of determining the worth or significance of a development activity, policy, program or a project. Evaluation tells us how well the project has achieved its objectives and how much change in outcome can be directly linked to the project intervention. Having understood two different words, now let's try to define what M&E is. As per the Food and Agriculture Organization of the UN, Monitoring and Evaluation is a continuous management function to assess if progress is made in achieving expected results, to spot bottlenecks in implementation and to highlight whether there are any unintended effects including both positive and negative from an investment plan, program or project and its activities. M&E as an embedded concept forms part and parcel of every project and program design. M&E is also a critical part of program management and implementation cycle. For example, if we are taking a bus to reach our village, then it is the monitoring that shows us if we are moving in the right direction, whether we have taken the right bus and how well our journey was, but it is the evaluation which shows us whether or not we have reached our intended destination, that is our village. So in a way, monitoring and evaluation goes hand in hand. To better understand any project, program or policy and we can say monitoring is doing things right, whereas evaluation is all about doing the right thing. That's all for today and if you are new to my channel, then please do subscribe and share the video among others who are interested to learn more about monitoring and evaluation. Thank you. Bye.