As first steps towards establishing software engineering as an engineering discipline, we need to create explicit models of its building blocks, i.e., projects, processes, products, and various quality perspectives; organize these models for effective reuse across project boundaries; and establish measurable criteria for project guidance. This paper investigates the possibilities of providing measurement-based project guidance using explicit project plans. Following a summary of technologies developed by the process modeling and measurement subcommunities of software engineering, a method for integrating these technologies is suggested, and the potential benefits for project guidance are discussed. Examples from the MVP Project at the University of Kaiserslautern are used throughout for illustration purposes.