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The importance of monitoring daily progress as a project manager is highlighted in this video tutorial. Progress is defined as forward movement towards a destination, with a start and end date for projects. It is essential to track progress regularly, similar to how we monitor our weight, diet, and finances in life. Team members may ask for updates on progress and seek indications that they are advancing towards their goals. Monitoring progress at different time intervals, such as daily, provides valuable insights for project management.