In my experience, it's less PIP and more "let's schedule daily check-in meetings and please send us hourly updates in Slack."
The trick is to be overly communicative before it gets to that point and push back on things when you can. People are generally understanding, but watching time pass without having any clue what progress is being made is scary. Especially when there are important deadlines and you have no control over or insight into the project status. Quell those fears without impacting your productivity too much and everyone will be much happier.