Read the entire play at least twice. Write down what you think are the play's themes and what role your character plays in the story. Read your monologue from the play with these ideas in mind.
Use a dictionary or the notes at the bottom of the play's page to discover the meaning of words you may not know. Check to see if a word may have more than one meaning and is being used as a pun or play on words.
Note the words you are drawn to. Write down what they make you think of and if there are any feelings attached to them. Pay attention to words with sharp consonants or lush vowel sounds. They may be there for the speaker to emphasize and use to express an idea or emotion.
Write out the monologue using your own words. Think of how a modern character would express the ideas. Read the original monologue again with the contemporary words in mind.
Read the monologue out loud. Note punctuation. Take a breath at a period or a short breath at a comma. Do not take a full breath at the end of every line, as that will break up the sentence flow.
Read the monologue out loud again. Think of who you are speaking to. Use a person from your own life to create an imaginary listener.
Read the monologue out loud as many times as necessary till the words flow with ease. Memorize the text to free yourself to perform it.