Installing Parental Control on ipad:Need strategy for changing apple id on 2 devices

I have and Ipad and iPhone both tied to same Apple ID. These are my devices and when my daughter was 8 I allowed her to use my iPad under my supervision and even allowed her to purchase apps -- she had to ask me for permission and show me the app she wanted to purchase with gift cards and such. Fast forward to now. She is 11 and texting on social media sites like oovoo and staying up way too late doing so. I have now put up rules and set boundaries on her use but want to go a step further and put a parent time lock app called One Pact on my ipad that she uses. I have to set up the app on the ipad and then monitor it from my iphone so am thinking I need to decouple the ipad somehow from my current, single apple ID. Not sure if this is the best route/strategy though so am seeking advice. I am not yet ready to get her her own phone but am open to setting up my ipad with a new apple id that will be solely her's (and then have mega rules and controls in place!!) Since current my apple id is tied to my email address I really would like to keep it tied to my iPhone and somehow setup up my ipad to no longer use my Apple ID -- ie, to be separate enough for her to use the ipad but with a setup such that I can put parental controls, etc on "her" device (ipad) and monitor it from mine (iphone). Has anyone dealt with having your own multiple devices tied to one ID, thus email address, etc. and then needing to make a change to enable your kid's use of one of those devices with parental controls? Thanks so much for any help. This tween age is going to put me over the edge!