Abstract: The invention is directed to a rules based method and system for monitoring and reporting the status, progress and performance of a project. The invention further includes a method and system which include indicators which are selected as a function the rules to identify variances in the project status, progress and performance. The invention further provides for a dashboard type way of presenting the information which presents the information in the form of indicators that allow a user to determine whether a project or component of a project is not performing as it is expected or planned to perform. The rules according to the invention can define variance limits for the data representative of the project performance and be used to change the indicators as a function of applying the rules to the project data.