STATUS REPORT
Since projects are delivered by teams of people, there is need for them to keep
each other updated. This can be done using a status report.
Here are some vital aspects about project status reports:
Frequency: Project status reports are typically created on a regular basis, such as
weekly or monthly, depending on the project's complexity, timeline, and scope.
Content: The content of a project status report usually includes a summary of
progress, accomplishments, challenges, risks, and issues. It may also include a
detailed breakdown of tasks, timelines, and budget.
Audience: The audience for a project status report can vary depending on the
project's stakeholders. This may include senior executives, project sponsors, team
members, or other relevant parties.
Purpose: The purpose of a project status report is to provide visibility into the
project's progress and performance, to identify potential problems or roadblocks,
and to allow stakeholders to make informed decisions.
Format: Project status reports can take many forms, including written reports,
presentations, dashboards, or spreadsheets. The format should be easy to
understand and tailored to the needs of the audience.
Communication: Effective communication is essential when creating project status
reports. The report should be clear, concise, and objective. It should also be
accompanied by regular communication and follow-up to ensure that stakeholders
are informed and engaged.
Overall, project status reports are a critical tool for project managers to keep
stakeholders informed and to ensure that the project is on track to meet its goals.
By providing timely and accurate updates, project status reports can help to
mitigate risks, address issues, and ultimately ensure the success of the project
A further look at the elements of a Status Report
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Although there are several important details surrounding every project, you do not
need to include all of them in your report. You only have to include what’s relevant
and what needs to be reported.
The Status for Measuring
The status report must visually communicate the status of your project. One
common method is to use the “stop light” technique. With this technique, you can
color code the status:
• Red means that there are problems or issues which might affect the
project. Therefore these problems need to be solved immediately.
• Yellow means there are problems, but there are also plans to solve them.
So if these plans work, then the problems won’t impact the project.
• Green means that the project is progressing within the timeline.
The Overall Status of the Project
You also need to report on the overall status of the project, meaning, whether the
project is on track or is delayed. The status report should be able to report the
project status in regard to project costs, project time; resources; quality, and any
other key variable.
The Status of the Milestones
A milestone is a relevant event or work product within a project which has been
accomplished. It’s important to include these in your report, when applicable. This is
one of the more positive contents of a report, which will be gladly received by
anyone who reads it. When adding in the milestones, be sure to include:
• The name of the milestone along with the project plan.
• The start and end dates of the milestone.
• The current status of the milestone. If it hasn’t been accomplished yet,
you can revise the end date.
• Again, if the milestone hasn’t been accomplished yet, add in the
percentage of completion.
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• Any risks or issues which are related to the milestones which have not
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yet been accomplished.
Any Issues, Risks, and Concerns
The status report can also provide an update on issues, risks, and concerns which
have not yet happened. You have to identify all potential risks and include them in
your report. You also have include all the potential solutions to the risks, issues,
and concerns.
The Project Accomplishments
It’s also necessary to highlight the project accomplishments.
CONTRACT DOCUMENTS
Project contracts are awarded after a varying range of processes. A contract is a
legally binding agreement that results from accepting an offer. In Project
management, a contract has several key details that must be considered including
the terms of the contract and the obligations they create; the consequences of the
breach of contract; the existence of exclusion clauses; Force majeure (a contract
clause regarding extraordinary occurrence beyond control which prevents one or
both parties from fulfilling their obligations); and how the contract could be
terminated; and provisions for resolving disputes including arbitration.
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