Performance reports are produced during the Control Procurements process by evaluating work performance data against the agreement requirements. Which of the following is the prime objective of producing such reports?

Performance reporting is a good project management practice and must be carried out on all projects.

Performance reports are produced so they can be added to lessonslearned database, and the future project might benefit.

Performance reports document the analysis of the project manager and does not require supplier’s participation.

Providing management with information about how effectively the seller is achieving the contractual objectives.