Would it be possible to apply setting whereby every time a project or ITG request is updated it sends a notification to a email ID?
You can configure this on the RT > Notifications Tab (Workbench). Is it what you are loooking for?
This is not available as out of the box.
There is a product enhancement for the following:
QCCR1L38447 Send Notifications when request is saved
Next PPM release will include this functionality