Final answer:
A project war room, also known as a situation room, is a designated space for project teams to collaborate and track project progress.
Step-by-step explanation:
A room where project teams can meet, and where the latest details on project progress will be available, is called the project war room or situation room. This space is typically equipped with various communication tools, displays for tracking progress, and areas for collaborative work. It serves as a central hub for project management, enabling team members to stay informed and connected throughout the project lifecycle.