Create customised fields at the Project level within the global template for various metrics. Combine status reporting by PMs (eg traffic lights) with derived data from the schedule. Fields could include Traffic lights for time, cost etc plus AC, ETC and EAC independent of the in built cost fields, alternatively you could create one field for your actual cost (derived externally) but use the in built ETC and derive an EAC which you could compare to BAC or Baseline cost.
Basically dont be constrained by what MS Project gives you in the vanilla install, it is flexible enough that you can get quite creative. Be careful though, design and prototype before deploying anything.