A gas turbine engine provides mechanical shaft power. Two parameters relating to engine operation are sensed that are representative of two different pressures, two different temperatures, or a pressure and a temperature associated with the engine. A value representative of the shaft power is determined during engine operation as a function of these two parameters. This value may be used for engine monitoring including making one or more adjustments to operational aspects of the engine, regulating/controlling engine function, and/or providing one or more power indicators.