Which of the following best defines 'performance measurement' in project management?

Performance measurement in project management focuses on the systematic tracking of project milestones and deliverables to assess progress against planned objectives. This involves monitoring various key performance indicators (KPIs) that align with project goals, ensuring that the project stays on schedule and within scope. By keeping tabs on milestones, project managers can identify deviations from the plan early on and take corrective action, thereby enhancing overall project performance and success.

While other aspects such as team dynamics, financial expenses, and resource availability are important in managing a project effectively, they do not encompass the full scope of performance measurement. Team dynamics may impact performance but are not a direct measure of project outputs. Evaluating financial expenses contributes to the understanding of project health but does not specifically track performance metrics related to deliverables. Similarly, determining resource availability is crucial for planning but does not focus on the actual measurement of performance outcomes in relation to the project's objectives.