In my opinion, the project review meetings are vital for delivering the status of the project to executive management and other stakeholders, it provides them with the updates and the major milestones of the project, while addressing any emerging issue within the project. But one problem with these monthly meetings is that no matter how efficiently they are run and how many projects they have covered in a short period of time they are still expensive. As these meetings tie up critical management resources for half a day to a day in the meeting itself, and meeting preparation time is a further hit on project managers. But an interesting thing about these meetings are that it makes the whole team active and they try to nail the next milestone to be able to present in front of the higher management and stakeholders.