This presentation defines key concepts used in monitoring and evaluation, including monitoring, evaluation, indicators, targets, milestones, benchmarks, outcomes and outputs. Monitoring is defined as the periodic tracking of a program's progress by collecting and analyzing data. Evaluation is defined as the systematic examination of a program's objectives and outcomes. Indicators are variables that measure progress, and should be SMART. Targets are quantified goals to achieve by a date. Milestones show progress at different points in time. Outcomes are results of activities and outputs are direct products delivered. The presentation provides examples for each concept and explains they help inform management decisions and program effectiveness.