What should be regularly monitored to ensure accuracy in project estimation?

Regular monitoring of project costs and expenses is essential to ensure accuracy in project estimation. Keeping a close eye on costs helps in assessing whether the project is adhering to the initial budget and timeline. As the project progresses, unforeseen expenses may arise, or costs may deviate from the estimates due to price changes in materials or labor. By tracking these expenses, estimators can adjust future estimations more accurately and make necessary budgetary adjustments in real-time, which is critical for maintaining profitability and ensuring project success.

In contrast, monitoring employee attendance is more related to workforce management rather than financial estimation. Site visitor logs track external visits and do not directly influence the cost estimation process. Client social events, while important for maintaining relationships, have no bearing on the accurate estimation of project costs.