“Monitoring and Governance” is the most important phase of every Dynamic Manufacturing Network (DMN) lifecycle and aims at managing and controlling in a continuous way the operations of the network, resulting either in “small and corrective” actions towards the network’s operation optimisation or to “larger and structural” changes, which are fed back to the initial phases of the network’s lifecycle, for reconstructing the network towards better results. The study at hand aims to review current approaches for controlling and monitoring plant operation or traditional supply chains, and to examine thereby their maturity and adequacy for the management and monitoring of dynamic manufacturing networks, leading to useful conclusions with regard to the requirements and challenges encountered in this particular phase of the DMN lifecycle.