Project Status Reports: Timely, Relevant, Informative

The Smart Art of Project Status Reporting: On Time and To the Point

  • from ITtoolkit.com

Status reporting is one of the most vital governance
practices for any project.  When used appropriately, status
reporting serves multiple purposes, not the least of which is to
support informed decision making, monitor progress, communicate with
stakeholders and maintain performing organization credibility. 
Above all, status reporting is the primary means to “control the
project narrative”.  Read on to learn how it all works.

Status Reports: The Path to Informed Decisions

As projects are executed, it is vital to have accurate information
regarding “where things stand�?. Status reporting is the means by which
“progress�? is quantified and documented, providing the basis for informed
decision making as the project unfolds. And that’s the key to effective
status reporting…. using the information reported to make decisions,
solve problems and keep the project moving forward in a positive direction.
Within the project management lifecycle, productive status reporting
serves seven (7) key goals:

  1. To maintain a timely, consistent flow of information relating
    to project progress and performance.
  2. To raise issues, problems and delays in a timely, actionable
    fashion.
  3. To provide sufficient reasoning and rationale for changes and
    adjustments to plans and strategies.
  4. To monitor and track project costs and budget utilization.
  5. To lay a solid, practical foundation for informed decision making
    and creative problem resolution.
  6. To acknowledge individual and team accomplishments in a timely,
    organized fashion.
  7. To provide a standardized mechanism for communicating “status�?
    to project stakeholders.

It All Starts with the Reporting “Templates”

Status reports are most efficiently produced using standardized procedural
and production “templates�?, designed to save time and set realistic
expectations regarding report timing, frequency, content and formality.
Truly actionable status reporting will convey “where you are�? in comparison
to “where you planned to be�? and “where you need to go�?. It’s about
quantifying work completed in measureable terms (typically percentages)
and comparing that data to established baselines, all to determine whether
the project is on track (and to take immediate corrective action if
not).

In order to ensure that all key goals are met, status reports must
provide the following types of information:

  • Facts: Milestones, planned accomplishments,
    schedule utilization, budget utilization, resource utilization and
    related variables.
  • Variances: Measureable differences between
    planned and actual status (e.g. are we on plan, ahead of plan or
    off plan, and if so, why?).
  • Analysis: Reasons for and the impact of any
    identified, measureable variances (e.g. why is the project ahead
    of or behind schedule?).
  • Next Steps: Actions to be taken to respond
    to variances and resolve problems, as well as expected accomplishments
    for the next reporting period.

Controlling the Project Narrative

Projects do not occur in a vacuum. There is always an underlying
“narrative�? that determines how a given project will be perceived –
from both a progress and “probability of success�? point of view. As
a project manager, you can either take control of the narrative, or
you can let the narrative control you. It’s easy to guess which is preferable.

In order to take control of the project narrative (and to hold on
to it as the project proceeds), status reporting must go beyond steps
and templates to communicate actionable status information that is both
timely and in context. What makes status information “in context�?? Usability.
To serve its intended purpose, project status reporting must keep stakeholders
informed in a meaningful way – to make relevant decisions, take appropriate
action and fulfill project roles and responsibilities. To “report�? is
to communicate, and project communication without purpose lacks productivity
and value.

The key to timely, “in context�? status reporting is to match reporting
“means and methods�? (i.e. status reporting procedures and templates)
to stakeholder needs and interests. This is achieved through a four
(4) point analysis:

  1. Who are your “status report�? stakeholders (to receive status
    reports)?
  2. What are their respective project roles and responsibilities?
  3. How will they use status information to fill these roles and
    responsibilities?
  4. Are they considered “active�? or “passive�? participants for status
    reporting purposes?

This is where the art of status reporting truly kicks in – matching
status reporting practices to stakeholder needs and interests (which
can and do vary). In all likelihood, multi-layered procedures and template
formats will be required to address varied needs with regard reporting
frequency, level of detail, and related format possibilities (i.e. software
produced reports, simple forms, formal documents, presentations, etc.).


Learn to Fast Track

When it comes to managing, you need more than one approach
to be consistently successful. The way you manage when surrounding conditions are good, is not
the way you manage when time is running short, resources are stretched thin and people aren’t
working together. That’s what fast tracking is for – and we can teach you how it’s done.
Learn More


(8) Easy Tips to Maximize Reporting Results

  • Be on time – if status is not timely, it is meaningless.
  • Be accurate – nothing is more damaging to performing
    organization credibility than inaccurate
    (or partial) information.
  • Don’t hold back – if the news is bad, be open and upfront about
    it.
  • Don’t be shy about good news – tout accomplishments (status
    reporting is part “marketing” – it’s your job to “sell” project
    viability).
  • Always be prepared to explain known and potential variances and trends (whether
    you are ahead or behind).
  • Anticipate stakeholder concerns and interests – look at status from the “other side”
    and try to meet information needs.
  • Be aware of the politics – and respect the information hierarchy.
  • Know your audience – make sure your status reports are always
    relevant, concise and to the point.

Be sure to remember that, as a process, status reporting also has
its downsides. If not properly sized, it can increase administrative
overhead, it can lead to “information overload”, and it might be perceived
as “micro-managing”. The art to productive status reporting is to minimize
these downsides so that all true benefits can be realized. In actual
practice, potential downsides will only be a factor when appropriately
sized “status reporting” standards aren’t clearly established and followed.


Using Milestones to Track Project Progress and Accomplishments

What would project planning be like if every task,
decision and event were given the same weight and significance?  It
would all just be “noise�?, without a meaningful way to monitor progress or plan
next steps.   That’s the point of the project milestone
– to quiet the “noise�? and provide actionable goalposts to manage
by. Read this article on Project Milestones or other related articles listed below.


CHECK OUT THE FAST TRACK PROJECT TOOLKIT.

If you’re looking for a fast, easy way to achieve project planning success, you’ll find it inside
the Fast Track Project Toolkit. This unique, informative online course gives you everything you need to become
a project leader and fast tracking expert. Here’s what you’ll learn:

  • How to plan and govern projects using strategic project fast tracking.

  • How to use strategic project fast tracking to save time and make the most of available resources.

  • How to use strategic fast tracking to overcome project constraints and limitations.

  • How to use strategic fast tracking to negotiate with stakeholders and build shared expectations.

  • How to use strategic fast tracking to become a more productive project manager and team member.

Source: Unless noted otherwise, all content is created by and/or for ITtoolkit.com


About Us

ITtoolkit.com staff writers have experience working for some of the largest corporations, in various positions including marketing,
systems engineering, help desk support, web and application development, and IT management.

ITtoolkit.com is part of Right Track Associates, proprietors and publishers of multiple web sites including ITtoolkit.com, Fast Track Manage, HOA Board List and more.
We started ITtoolkit.com in 2001 and have continued to grow our web site portfolio, Toolkit products, and related data services.
To learn more, visit us at Right Track Associates.

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