See my jsfiddle demo.
By your use of col-sm-* and col-md-* classnames, I assume you're using Twitter Bootstrap CSS Grid.
I noticed a couple of issues with your work though.  You had a style="width: 700px;" and "col-sm-8" class on your <h1>.  You also tried using "col-md-4" class on your <img> instead of using it on a wrapping <div>.
I would refer you to the code in my fiddle, and the Bootstrap CSS Grid docs (scroll down and look at the code samples.)
HTML
<h2>Example 1</h2>
<p>2-column grid, using Bootstrap CSS Grid (12-column grid).  <strong>col-sm-4, col-sm-8</strong></p>
<hr>
<div class="container" style="margin:0 auto;">
    <div class="row">
        <div class="col-sm-4">
            <img alt="DDP"  style="width:140px; height:60px;" src="logo.png" />
        </div>
        <div class="col-sm-8">
            <h1>Monitoring Engineering Dashboard</h1>
        </div>
    </div>
</div>
<hr>
<h2>Example 2</h2>
<p>2-column grid.  Tip: Adjust your browser window to see in real-time the side-by-side layout activate, for col-md-* grid sizing.  This also means that if your browser window is anything under 991px, then the column layout will display the columns as stacked blocks (rows).  <strong>col-md-4, col-md-8</strong></p>
<hr>
<div class="container" style="margin:0 auto;">
    <div class="row">
        <div class="col-md-4">
            <img alt="DDP"  style="width:140px; height:60px;" src="logo.png" />
        </div>
        <div class="col-md-8">
            <h1>Monitoring Engineering Dashboard</h1>
        </div>
    </div>
</div>
<hr>
<h2>Example 3</h2>
<p>
2-column grid, flipped.  <strong>col-sm-8, col-sm-4</strong>
</p>
<hr>
<div class="container" style="margin:0 auto;">
    <div class="row">
        <div class="col-sm-8">
            <h1>Monitoring Engineering Dashboard</h1>
        </div>
        <div class="col-sm-4">
            <img alt="DDP"  style="width:140px; height:60px;" src="logo.png" />
        </div>
    </div>
</div>
<hr>