This paper discusses the contributions of the Most Significant Change (MSC), its benefits and challenges in the context of monitoring and evaluation. The inquiry used qualitative methods of data review. It was evident that one of the recognizable change systems of the monitoring and evaluation model is the Most Significant Change (MSC) analysis. The model was founded by Rick Davies in late 1993, and it is still helpful to date, particularly in social settings. Today, the majority of NGOs in developed and developing countries use the model to evaluate and monitor their projects through consideration of various stories as well as through the use of democratic and participatory involvement of others in the project. In using the model, project managers must gather stories, especially stories of substantial transformation among staff, volunteers, participants, and groups. The stories are then verified to evaluate the changes in place. The model works best in social settings, and it was first applied in Bangladesh by Christian workers and Rick Davies to solve humanitarian project challenges. In using the model, key elements and steps that should be considered include defining the change, deciding how to collect the stories and collecting the most significant change stories. The stories are then verified, and evaluation is done to ensure that the project meets all the stakeholder's needs and values. The model works best with qualitative methods and is mostly used when changes are uncertain. However, it is associated with unreliable data and bias since it involves personal stories. It is important that project managers use the model to promote the accountability and transparency of their projects. This study fully contributes to monitoring and evaluation since it highlights some of the ways that project teams can use in managing their stories and using such stories to promote their project scope, accountability and transparency.