ESSENTIAL PROJECT REPORTS
What Is a Project Report?
A project report is simply a document that provides detail on the overall status of the project or specific aspects of the project’s progress or performance.
Benefits of a Project Report
These are important tools of communication with stakeholders to keep them updated on the project and its progress. They are helpful for project managers and assist them when allocating resources and other means of managing the project to a successful conclusion.
Most project reports will compare an actual effort against the planned effort in order to keep the project on the financial track and aligned with its schedule.
Project Report Types
- Status Reports
This is the most common type of project report and the one that you probably find yourself working on most regularly.
You can produce status reports weekly or monthly. Depending on where you are in the project and how much there is to say, you can adjust the frequency.
- Progress Report
One of the most essential project reports you’ll generate over the course of executing a project is the progress report. This report provides updated information on your project, focusing on whether it is performing up to the standards established by the timeline and budget. It’s another way to inform your stakeholders about where the project is at that time.
You want to be specific when making a progress report. Note the data, and then write a brief introduction that includes the title of the project, contact info, a summary of the status of the project, and general information about the schedule, cost, and expected completion of the project.
3. Risk Reports
The risk report should include a summary of the risk profile of the project, but how you present this is up to you. A good approach would be only to include the details of the risks that have the potential to create the most problems for your project. Then, include a statement on the lower-level risks, perhaps summarizing how you are managing all of these.
4. Cost Benefit Analysis Report
When deciding if a project is viable, one of the reports you’ll want to run is a cost-benefit analysis report. It’s a way to compare how much of a benefit or opportunity the project offers to your organization in comparison to the investment. It’s a key step in deciding if the project makes sense from a business perspective.
- Resource Reports
The resource report will show you the breakdown of which project team member is allocated to which task on which day. They can also be used to pinpoint over-allocation problems – where a team member is allocated to more than one task. Obviously, they can’t work on two things at once, so if you don’t pick up these problems you’ll find that your project plan slips behind schedule. Use the resource report to ensure that you haven’t got clashes for individuals and reschedule those tasks as necessary.
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