Toto Wolff has revealed that Mercedes took a "risk" in making such dramatic changes to the W14 mid-season, as he insisted there was still a long way to go to catch up to Red Bull.
Lewis Hamilton and George Russell followed each other across the line in second and third respectively, securing a double podium for the Silver Arrows.
And given the extensive upgrades that Mercedes introduced to the W14 in Monaco, Wolff for one knows how much of a gamble the team took changing their approach so dramatically during the middle of a championship.
"I'm very happy with the hard work that's been done in Brackley and Brixworth," he told the team's in-house media. "We took some decisions to go in another direction, we changed so many parts and it was a risk, but everybody just pushed forwards.
"We need to be realistic," he added. "The temperature really suited us. It was nice and fresh, not too cold and not too hot. The car was in a great window.
"It's a long way to catch up to Red Bull and we just need to grind away. It's good to see the development direction is right but this is just the beginning."