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>