Microsoft Project - Tracking Explained

Tracking Explained 

Tracking is a way of monitoring progress on the project plan. There are many different ways of tracking progress.  Track the project to the level that is required, the deepest level the software is capable of doing.

By tracking a project information can be drawn from the project to produce reports that can be circulated around the team to keep them informed with what has been done, what needs to be done and how close to the original schedule the project is running.