P3® also provides a mechanism to monitor the ‘performance’ of a project against its uniquely developed KPI’s during the life of the project. Project KPIs are helpful in providing holistic picture of the project’s exact status at any given point in time. They are like snapshot providing current status of health of projects in terms of spending and scheduling. Keeping a track of KPIs or Key Performance Indicators is absolutely critical to project management and success. In the absence of a performance monitoring system that tracks KPIs, it is nearly impossible to assess the progress of a projects towards the predetermined goals.