Project management reporting plays a vital role in the success of any project. Team members, stakeholders, project managers, and even board members create reports regarding the important issues. There are several types of reports that must be carefully prepared and submitted to stakeholders, clients, and managers in order to ensure effective communication among the participants of a project. In this article, we will discuss four common types of reports in project management.
Why are Reports Important in Project Management Processes?
An efficient project management reporting system provides regular and formal information for the project. Team members, stakeholders and also clients can be furnished with enough information about the projects current status. In this way, you can protect your project team members and project stakeholders from unforeseen risks and issues that are highly critical to be known.
By the help of project management reports, we will recognize what is preventing the project from moving faster and have the possibility to break down the various aspects of the project against the project management plan, which was prepared before.
Project management reporting system also provides a documented history of the project and its proceedings. These valuable data can be used for claim analysis and/or settling disputes.
Note that your reports are in a format that remains the same and can easily read.
What are the Types of Project Management Reports?
There are several types of reports used for project management, however, we will review four different types of reports. Each of these types plays an important role during the execution of the project.
1. Status Reports
One of the most common types of project management reports is the status report. You can prepare status reports on a daily, weekly and monthly basis. The frequency of reporting depends on the detail level of project and requirements. If the project is large and complex, you can produce daily reports to show the activities daily performance. If the project is relatively easier or the activities take longer than one week, you can report the activity status on a weekly or monthly basis.
Project status reports can be indicative of the following statuses pertaining to the project:
- Schedule Variance (SV)
- Cost Variance (CV)
- Earned Value Analysis (EVA)
- Percentage of Completion
- Milestone Status
- Procurement Status
- Health and Safety Status
2. Resource Reports
A resource is a necessary asset which is used to perform a certain task or a project. A resource can be a worker, a group, a vehicle, finances, and time. Most projects require several types of resources in order to be performed.
As a project management report, resource report show you the breakdown of which worker is assigned to which activity on which day. By the help of resource reports, you can easily compare the planned and the actual performance of the project.
Productivity analysis can be made by reviewing the resource reports. Resource reports provide information about the completed quantities and spent manhours. Project managers use resource reports to decide resource leveling when the resources are limited.
3. Risk Reports
Risk report includes a summary of the risk profile of the project. The risk register should be updated and risk review meetings should be assembled by the project management team. Risk reports can be the output of risk register and risk review meetings.
Risk reports may include a lot of information about the risks but in order to present the report briefly. The risks that have the potential to create the most problems should be highlighted in the risk reports. It is possible to create a risk report which involves all the risks within a project regardless of how important they are.
Updating risk register regularly and encouraging project team members help to contribute to the risk register whenever they determine something needs to be recording.
4. Executive Reports
Executive reports are prepared for board members and top management. Therefore, the detail level of these kinds of reports is different than the other project management reports. But the detail level of executive reports must be enough to improve decision making. Project’ s current status, important issues, high-level risks, income, and budget summary, key milestone status parts are included in the executive reports briefly.
Project Management Reporting and Communication
Effective communication is key to successful project management. In the same way, effective project management reporting is vital for a successful communication system. Because communication plays a significant role in all dimensions of business. The project manager is required to make sure that everyone is clear about their responsibilities. He also needs reports to understand the progress and communicate with stakeholders.
No matter if you’re a project engineer in the field or a project manager, you have to create reports regarding the performance of the project. In the field of project management, there are several different types of reports available for this purpose. Status reports provide information regarding the status of the project during the implementation phase. Resource reports include information related to resource usage. Risk reports allow you to review project risks and their potential effects on the project goals. Executive reports are the high-level reports created for the top management to provide summary information regarding the projects status, performance, and other important project information.
Note that you can use spreadsheets as well as reporting software while creating these reports.
In this article, we discuss the importance of project management reporting and common types of reports. How do you write a project report? You can use the comments section below to share your opinions and experiences.