Well, without looking around online (I'm tired), I can still say yes. Depending upon the connection you have on your monitor (DVI or VGA), you should be able to find an adapter to convert the Composite or Component (or is it HDMI?) cables to the required connection. However, unless your monitor also has speakers built in, you're going to have to get a set a cheapo speakers or whatever to obviously give you sound.
I personally don't own a PS3, so I don't know the wires it comes with out of the box. HMDI to DVI can be done though. I would suggest either Amazon or Newegg as your starting point for adapters.
EDIT: Wow, they actually do make them.
[ame="http://www.amazon.com/DVI-I-component-Adapter-Switch-Plated/dp/B000Q6T0OK/ref=pd_bxgy_e_img_b"]Amazon.com: DVI-I Male to 3 RCA component Adapter w/ DIP Switch for ATI Video Cards (Gold Plated): Electronics[/ame]






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