Importance of a 'source of truth' file and tools for project tracking

The chapter explores the significance of maintaining a 'source of truth' file in Figma that consolidates all screens for each product, facilitating collaboration within the team and external stakeholders. The challenges of ensuring the accuracy of the source of truth file are also discussed. Additionally, various tools like Quip, Google Docs, Slack, and Monday.com are explored for tracking project progress and accessing project documentation.