5 WAYS TO IMPROVE PROJECT REPORTING
One of the primary responsibilities of a project leader is to provide regular reports on the status of a particular project. This is reported to the company’s leadership as well as the project sponsor. Project reporting also helps managers and teams determine where they stand in the project cycle and if they’ll be able to meet the deadline.
The importance of project reporting cannot be devalued as it leads to complacency, and ultimately the death of a project.
Here are some handy tips to improve your project reporting:
#1 Project Status
To start, you need to create a weekly report on the status of your project. This enables you to compare planned versus actual efforts, including the percentage of work completed. Your project status report will also help you identify risks, issues in the project and actions your sponsor can take to resolve them.
This feature can help you provide an accurate estimate of the effort, duration, and cost to complete the entire project. Exercise conservatism when forecasting these parameters.
#2 Task Completion
Sponsors like to receive regular updates on the status of the project and often compare it to the task schedule. Your project plan must carefully summarize and update consistently to indicate the percentage of work completed. You should add this to the Project Status Report so that management can also look into the specifics of each task.
By providing a detailed summary and weekly status reports provides transparency on your project and increases the level of trust between your sponsor and organization.
To demonstrate when project deliverables have been achieved, you must add milestones to the project plan. Sponsors like to know the macro and micro of your progress, and this keeps them in the know-how. You should consider showing the progress percentage of completion as well as a forecast of the date of achievement of each milestone.
This involves your sponsor in the progress of your work.
#4 Getting Help
Do not hide or lie about the status of your reports. It’s always better to state the truth no matter how awful it might seem. Stakeholders are going to respond adversely if they learn that you’ve falsified or hidden critical information about the project, mainly because it affects the proposed due date and budget.
If you ever go over budget or fall behind schedule, inform your stakeholders immediately. Work with them to resolve these issues. Sometimes they will be able to move the point towards resolution in a better way than you can. Project reporting was created to tackle this critical problem. It’s not as simple as it sounds to bring your sponsor’s attention to a problem. However if you can demonstrate your best efforts, clear your requirements and show that the project will be delivered on time, then they’ll be glad to offer their assistance. By not asking for help, you won’t get very far. Whether you need more resources, money or time, ask!
#5 A Single Version of the Facts
Projects are not literary works; hence there’s no room for uncertainty. You must exercise clarity while communicating the facts about the project. Transparency and accuracy are also required about the issues influencing your team. They should be made aware of the actual course of the project so that they can steer it towards completion.
You need your team’s support to resolve issues that will arise during the project. By shedding light on these issues, you are sharing the responsibility of addressing them.
To create useful project status reports, invest in effective project management software.
Contact ViduPM to learn more.