The Microsoft Best Practices Analyzer for Windows SharePoint Services 3.0 and the 2007 Microsoft Office System Best Practices Analyzer programmatically collects settings and values from data repositories such as MS SQL, registry, metabase and performance monitor. Once collected, a set of comprehensive ‘best practice’ rules are applied to the topology.
This is a command line utility that administrators can run to get a detailed report of recommended changes that can be made to their environments to achieve greater performance, scalability and uptime. The below picture shows a snap shot of my staged server after running it:
One thing that you will notice is that it does indeed cover Project Server. There are a number of best practices that are specific to Project. For example, if there has been a failure with the cubes or if there are failed queue jobs the Best Practice Analyzer will warn you of these failures.
It is important to note that this tool is a read only. It will not make any changes to your environment. You should give it a try.
You can get a copy here: