Ah... the nag factor. How much of nagging falls under monitoring and how much could be attributed to micromanagement? A certain amount of "nagging" is unavoidable.
So your arrangement starts with nagging (I prefer the words "following up" to describe what you're doing early on), then becomes micromanagement once a staff member blows a deadline and didn't ask for help (proven themselves unreliable), is that right?
It looks like you have a sort of contract set up with you staff. Is this arrangement clear to folks before they get hit with the micromanagement 2x4 (I love that analogy now.. lol), or do they find out once they've breached your trust?
I'm not trying to put you on the spot. I'm hoping to clarify the progression from follow up to micromanagement. Maybe your comment suggests there's a way to short circuit the micro-manager by modifying the feedback loop (i.e. providing regular and accurate feedback).