Ok, I've used this information below for my own understanding througout my PMP preparation because I had the same question.
Work performance data, work performance information, and work performance reports are all either inputs and/or outputs of various processes in the Executing and Monitoring and Controlling process groups. They are similar but do have differences. I recommend you understand the differences for the exam. Here is a recap of each for your study time.
According to the PMBOK ® Guide, the definitions are as follows:
Work Performance Data: This is the process of measuring and observing project activities. This may include data such as reporting on the percent of work complete, status of deliverables, technical performance measurements, the actual start and finish dates of schedule activities (schedule progress to date), the number of change requests or defects, costs incurred to date, etc. Work performance data is an input of the following processes:
• Validate Scope
• Control Scope
• Control Schedule
• Control Costs
• Control Quality
• Control Communications
• Control Risks
• Control Procurements
• Control Stakeholder Engagement
Work performance data is an output of the following processes:
• Direct and Manage Project Work
Work Performance Information Work performance information is used in the Monitoring and Controlling processes to analyze information such as the status of deliverables, the status of change requests, and forecasts such as estimate to complete (i.e., the work performance data).
Work performance information is an input of the following processes:
• Monitor and Control Project Work
Work performance information is an output of the following processes:
• Validate Scope
• Control Scope
• Control Schedule
• Control Costs
• Control Quality
• Control Communications
• Control Risks
• Control Procurements
• Control Stakeholder Engagement
Work Performance Reports Work performance reports are the physical manifestation of the work performance information you've gathered and analyzed using variance analysis, earned value calculations, or forecasts. Work performance reports may include status reports, memos, updates, and more. Work performance reports are intended to aid decision making and action plans.
Work performance reports are an input of the following processes:
• Manage Project Team
• Manage Communications
• Perform Integrated Change Control
• Control Risks
• Control Procurements
Work performance reports are an output of the following process:
• Monitor and Control Project Work