Whether you set up the project with others, or get the basics in place without them will depend on your specific circumstances. There are benefits and drawbacks to both approaches.
Ideally it is best to make the important decisions together and delegate the less important decisions to individuals. This way everyone has some independence and a degree of control over their work and you can make sure that you can handle the amount of work you collectively need to get through.
You will have set out your commitments to monitoring and evaluation when you prepared your project plan. Now is the time to implement that. It is a good idea to keep this area as simple as possible.
You will also need to implement your consultation process in order to get input on your performance and/or direction. Key stages to do this are during the set-up and review periods, but you might also find other opportunities such as events.
There is a well-known management tool that works as a cycle and contains the following stages of development: plan – do – review – reflect. The idea is that first you work out (plan) how you will deliver; you then do it; you then review how well it went in practice (identifying any shortfalls); you then reflect on what you have learnt.

This page is a summary of the information contained in the full online toolkit.