The ability to quantitatively monitor and assess software project performance supports the Quantitative Process Management and Software Quality Management Level 4 Key Process Areas (KPAs) of the Capability Maturity Model (CMM). In this paper, we discuss ongoing work with an industrial partner to integrate software process metrics with a discrete event simulation model to improve process performance predictions. A flexible metrics repository provides data that are used to generate updated simulation model parameters at predefined project milestones. Model predictions are updated using a flexible metrics repository and are compared to Outcome Based Control Limits (OBCLs) defined for the project. These predictions enable a project manager to take corrective action as necessary with the simulation model providing insight on potential performance impacts of the corrective actions proposed.