Project management reporting is an integral component of the project management process, which facilitates for effective project governance. It is primarily conducted to make sure that the key project goals are realized within the schedule and scope of any given project. This can be brought about by regular monitoring and evaluation of a project’s progress to determine any variances from the original plan. Once these variances are pinpointed, corrective measures can be proposed, and ultimately adopted accordingly.
What are the benefits of project management reporting?
This critical process offers a vital platform where team members and their superiors can raise issues on identified variances. Which in its turn, allows them to be in an excellent position of formulating corrective actions before the issues get out of hand. In some very rare scenarios, the situation may prove to be beyond remedy, but still, the problem will have been identified and get reviewed later on in the project.
Project management reporting can also greatly enhance accountability of the various facets of any ventures. Essentially, the work that is been done is made more visible to all interested parties such as the project manager and the senior management team. This process also provides tangible records on the given venture’s progress. Which the manager and senior management can conveniently assess at any time that the history of the project is required.
What is the ideal cycle of management reports?
Ideally, this process should to be undertaken on a regular basis to guarantee its effectiveness as well as that of the whole project. Nevertheless, the exact frequency of reporting needs to be decided by the exact duration of the project in question. For instance, short span projects (not more than six months ) can require weekly reporting so that issues raised can be comprehensively tackled in a time efficient manner. On the other hand, for projects that last longer than this, bi-weekly or monthly reporting can be appropriate.
What is the right format to use in generating management reports?
Quite naturally, there happens to be a wide variety of formats that can be utilized in project management courses reporting , and virtually all organizations integrate totally unique content. However, the tabulation of such content normally depends on the distinctive metrics that a project team members may use to track the objectives set for them. The frequency of reporting along with whether budget tracking is factored into the report and if earned value is been taken into account are also some other factors that may come into play.
Despite all this, typically the following are some of the most essential that all project management usually include.
The status summary of project management is designed to offer a high level summary of the given project.
The project progress report is primarily meant to outline the exact progress that was achieved since the last reporting period. This includes key milestones accomplished , deliverables obtained and the budget that was made use of in that given period of time. The project progress report also includes anything that ought to be accomplished by the next reporting period along with the projected resources to be utilized for the same.
Risks and other important issues raised
This section of a project management report elaborates on any identified risks and any other critical issues that may need to be addressed for the success of the project. It also outlines the plans adopted to comprehensively deal with such challenges.
This part of a project management lists the current budget that has been used so far together with the projected budget to bring the project to a successful culmination. Both of which take into account any variances that might have arisen so far or those that may arise in the future.
This section of a project management report elaborates on the current project schedule until the completion of the project. It also explains if the work has been accomplished so far was within the original schedule, and if not explain why
As you can see, project management reporting is indispensable to the realization of any project’s objectives. It not only permits the project members to identify issues that can derail the project. But also offers unparalleled accountability and presents a visible record of a project’s progress at any given time.