I would say that you should not feel the need to micromanage your team members. Performance update meetings typically work well. When you have the right team members in place, once per week meetings should be more than sufficient. During those meetings I recommend discussing the current status, challenges and obstacles, as well as anticipating worst case scenarios.
When software engineers report "all is well" I become nervous and start posing the question, what could go wrong and what are you doing to anticipate/plan for it? I also recommend encouraging collaboration, where the engineers are supporting each other. Hope this helps. Good luck!
