Check memory usage of subprocess in Python

I'm developing an application in Python on Ubuntu and I'm running external binaries from within python using subprocess. Since these binaries are generated at run time and can go rogue, I need to keep a strict tab on the amount of memory footprint and runtime of these binaries. Is there someway I can limit or monitor the memory usage of these binary programs at runtime? I would really hate to use something like "ps" in subprocess for this purpose.