Keeping Stakeholders Informed about Project Status
Regularly reporting on project status is a core project management activity according to Method123 Ltd, leaders in online Project Management Templates.
“Communicating the project status with your team, stakeholders and project sponsors is a key requirement for any project manager,” says Jason Westland, CEO of Method123 Ltd. “Preparing a weekly status report is a simple way to do this.”
“It helps everyone to understand whether the project is on track and likely to finish on time, and also raises any potential issues that could affect the project so that they can be resolved quickly,” he says.
“If you don’t keep a record of what’s going on, things can slip so project reporting is a sure fire way to ensure the project is successfully delivered on time and within budget.”
A Project Status Report is used to communicate the status of a project. The report is prepared and distributed regularly to ensure all key stakeholders are kept informed about the project status. It specifies whether the project is on schedule, within budget and adequately resourced.
Method123’s project status report helps project managers document the overall status of their project so that stakeholders are regularly informed of the project’s progress. It covers all aspects of the project and enables them to report on the project schedule, budget, resources, deliverables, risks and issues.
The project status report is part of the comprehensive Project Management Kit offered by Method123 and should be completed during the project execution phase of the project life cycle. The kit includes all of the project management templates and tools needed to successfully deliver projects. It comprises hints and tips, real-life examples, charts and tables that cover every activity in the project lifecycle from initiation to planning, to execution, to closure
Method123 also provides Project Management Methodology and Project Management Software, which combined with its Project Management Template package, present a unique and compelling offering to project managers around the world.
For more information, visit Method123.com