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SUPERVISION AS AN APPROPRIATE FORM OF INTERNAL MONITORING WITHIN EUROPEAN UNION COOPERATION DEVELOPMENT PROJECTS ——o— Maja DRAZIC ABSTRACT The aim of the present work is to explain why supervision could be an appropriate form of internal monitoring of international development projects funded by EU. The local stakeholders’ ownership of development processes is the main issue of EU cooperation development policies, while the active participation represents the principal tool for ownership enhancement. Monitoring is one of the key practical tools in ownership promotion and the EU cooperation policies have placed greater emphasis to monitoring conceived as a learning process, not exclusively as a revision tool. This indicates that there is a need of review of the methodology planning and implementation of monitoring process as well as the competencies that monitoring experts should possess in order to successfully achieve all its objectives. Supervision intended as a common learning process that leads to improvement of individual, team and process features, should become an appropriate form of monitoring. INTRODUCTION This paper is meant to be a brief overview of theoretical assumptions aiming to elaborate a theoretical and methodological framework of supervision as a form of internal monitoring of cooperation development projects funded by EU. By analysing the basic monitoring and supervision characteristics, I shall try to establish, in the present paper, the reasons why supervision should be considered as an appropriate form of internal monitoring in the context of cooperation development projects funded by EU. I strongly believe that the theoretical and epistemological research of new possibilities of supervision application is one of the key preconditions for further development of this discipline and enlargement of its application scope.