The Project Status Report is a routine, formalized report on the project’s progress against the schedule. The purpose of a report on the status of a project is to keep all stakeholders aware of progress, resolve problems before they occur, and ensure that the project can land within the time frame.
A report on a project’s status helps improve coordination within an organization as everyone is kept in the cycle on how the project is progressing. Project Status Report also helps simplify the process of correspondence through a consistent, formalized report that everyone can refer to keep up to date.
Also, a project progress report increases organizational support for the project by ensuring good contact with team members to ensure that all priorities and objectives are achieved.
Project managers complete a monthly Status Report of the project. This status report is sent to the PMO for inclusion in the Quality Reporting Pack of the Project Portfolio, reviewed at the Capital Review Group (CRG) regularly.
Project Status Reports from all relevant Project Managers will be generated from the last working day of each month and sent to PMO within three working days of the month.
In advance of submission to the PMO, project managers should review the project status report with the project sponsor. The Project Status Report may also be produced, at the project manager ‘s request, as an input to the project’s review meeting.
Once the revised status report is saved and sent to the PMO, the project name and the reporting date ‘as at’ should be included in the document title, e.g. ‘[project name] Project Status Report [YYMMDD].’