Client has 200k keywords, how do I track them.

wow.. that's a TON of keywords..

maybe you could narrow it down to like the top 200 or 300 at most and then build your campaign from there.

depends on how deep you want to go. Obviously if you're only interested in checking top 10 then 200k isn't too big a deal but you'll need at least 100 proxies with Rank Tracker. If you want to go deeper than that, you can configure Rank Tracker to parse search queries w/ 100 results per page. Results won't be identical to 10 result per page queries, but it'll give you a pretty good estimate of where you rank. I would not go beyond 100.

I would divide the list by 20 and check each list once per week -- you could do 4 lists a day -- that way it will take you 1 work-week to do your entire list. Your results won't change much in a few days anyway.

You could also use the Google API -- you can go 64 deep with their api results...but I'm not sure how many queries you can do per day, I seem to recall there is no limit (it used to be 2000 but I think they got rid of that). Check with Google api docs.

such a huge list of KWs... And how many people are gonna work on this project .. I can't imagine who would go thru the reports of them...

Dont bother with one it will more trouble than it's worth.

Use analytics and webmaster tools to check average position impressions track conversion rate and more..

Or if you don't fancy Google check out ahref they tell you what keywords your ranking for and the position although the updates are a bit random.

If it was me I wouldn't track 200k keywords, even if there is a tool to track the keywords who's gonna look into 200k reports?
I'll focus on the main keywords and watch analytics for traffic.
People don't care where they rank. They care about how much they are spending and how much they are bringing in.

that's true. nobody will read 200k reports. connect your webmaster account to google analytics and you can start analyzing keywords that way.

breaking down the camp would be my best guess