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Having a monitoring and evaluation system/entity is very important in an organization because M&E allows for close monitoring of progress in project implementation. In other words, it provides the necessary tools to monitor implementation, learn from mistakes, evaluate the outcome/change brought about by the project, and report to those in authority, such as donors, etc.
Thank you for your post and I share the same sentiments. Monitoring and Evaluation is a tool that paves the way into the project's goals, objectives, inputs, outputs and also, how all these aspects will influence the impact and outcome of the project.