If you follow (i.e. "watch") a project, MeisterTask will notify you of all goings-on in the project as if you were following each task in the project individually. This is a great way for project managers to keep an eye on status changes of tasks and see how things progress.
To follow a project, click on the ( i ) button in the top bar and select Project Properties from the menu.
In the top-right of the Project Properties dialog, you'll find an eye button. Click on the eye to start watching the project. Click on the button again to stop watching.