Make your status reports more efficient, communicate with important stakeholders better, and deliver your project update presentations with more impact using this template. With the help of this free Excel template, you can start utilizing the project status report to its maximum potential. A status report is capable of so much more.
You can create a project status report in excel if you want to go further with your reporting. For example, our template may provide a status report that details progress, costs, resource utilization, overdue activities, and more in just a few clicks. Additionally, it provides more functionality than only reporting. Five alternative perspectives you can also use for your team: Gantt charts, kanban boards, task lists, spreadsheets, and calendars. Keep your reports updated each time you update the tasks and the project plan.
An overview of a project status report
Are your project’s stakeholders, investors, and key individuals pestering you for updates? Wouldn’t it be amazing if you could professionally, effectively, and appealingly offer them the information they require without rushing to put something together?
A project status report is a document used in project management that summarises a project’s current state of health and progress. In addition, it serves as a project reporting tool for communicating important information to project participants, including clients, sponsors, and team members.
Status reports are a crucial tool for keeping clients, and other critical stakeholders informed about the progress of a project. Everyone concerned will be able to communicate freely and continuously thanks to this report, enabling the updated flow of information. In addition, they can be referred to when making significant decisions and used to record any project milestones.
Why should a project status report be made?
Just because someone gave you a task doesn’t mean you have to develop a progress report template. Such a report is created since it is advantageous to the project. Your report is created such that:
- When you require assistance, you can request it or get it.
- The project’s major backers and stakeholders are updated on its progress.
- Everyone working on the project may see the successes as they happen tangibly and visually.
These reports are quite helpful. A project is kept on track and everyone engaged is productive when the status is communicated often. These reports were initially developed by managers who desired a written record of their staff members’ work.
Components of Project Status Report Excel Template
The fundamental issue with using a status update template to report a project’s progress is that many individuals do not see or comprehend the perspective of a project manager, no matter how big or little. Of course, making this report can be simple if you are the designated project manager. But if not, that’s when the difficulty arises. To learn the complete state, you might need to conduct research and consult others involved in the project.
There are numerous project status report templates online, and they may differ in content. However, your project status report needs to address these important points.
Project Specifications: You’ll give a general overview of your project here.
Project specifics: Name of the project, the date of the report, the project manager, sponsors, and stakeholders
Reporting time frame: Determine whether the project status report is weekly or monthly.
Brief Project Status Report: You will update team members and project stakeholders on the project status in this area.
Key Accomplishments: A section for highlighting the accomplishment of milestones, deliverables, and action items.
Work that has been finished: Work that is planned within the parameters of a project.
Project Milestones: Completing a work package, deliverable, or project phase constitutes a project milestone. A completed milestone is an important event or piece of work that belongs to a project. When appropriate, it’s crucial to incorporate these in your report. This is one of the report’s more encouraging sections, and anyone who reads it will appreciate it. Be sure to include the following while adding the milestones:
- The project schedule and the milestone’s name.
- The milestone’s beginning and finishing times.
- The milestone’s present state. You can change the end date if it hasn’t been finished yet.
- Add the percentage of completion if the milestone hasn’t yet been reached.
- Any dangers or problems arising from the milestones that have not yet been reached.
Project Deliverables: The project deliverables are the products of the tasks that fall under the purview of your project; they are essential to completing the project schedule.
Action items: Activities that must be carried out to produce deliverables and finish the project. These are the things that are universal and apply to everyone. But, instead are either owned by the entire club or a portion of it. After completing these, the goals can be transferred to the accomplishments.
Include your report’s key goals from the current week or the following week. On the other hand, action items describe specific tasks that are delegated to a certain person. The requested date and the due date are also included in this. Once completed, the action items can be added to the section devoted to accomplishments.
It’s crucial to include all project accomplishments in your report so that your team and important stakeholders are aware of them. Even though you don’t have to, it’s a good idea to include all the pertinent details.
The active status of the project and how it is related to the project plan will be discussed here with the project stakeholders and team members. You’ll need to discuss your project’s money, schedule, quality, and scope to achieve this.
- Overview of the project budget
- Overview of the Project Schedule
- Overview of Quality
- Overview of Scope
Overview of risk management
- Project Issues & Risks
The Important Choices
It’s crucial also to cover all significant choices. These deal with potential challenges and problems. You can refer to the report for any questions after making the decision.
Please focus on the most recent significant decisions, then make a choice based on them. Before the choices are formally recorded, the majority must accept and concur with them.
Your progress report template will be successful if all these important components are present. Therefore, before drafting your report, consider these components and acquire all the necessary data. Here are some suggestions for you in the next section.
Summary and recommendations
Here, include suggestions or worries about risk management, resource management, or project schedule.
These are any problems, dangers, and worries that have not yet materialized. All potential risks must be identified and mentioned in your report. Of course, when jotting these down, be sure also to include all of the potential fixes for the dangers, problems, and worries. Include the ones that have already occurred, whether or not they were anticipated.
The Project’s Overall Status
Knowing if the project is on schedule or is running behind schedule is the most crucial component of the report. If you want, you can categorize this overall status into different groups. For example, the participants, the budget, the scope, and other pertinent groupings can all serve as categories.
Benefits of Reporting Project Status
Projects don’t progress by themselves. The project’s participants collaborate to keep it going forward. Everyone can stay informed if someone is in charge of monitoring the project. Creating a template for a project status report is a great approach. Creating such a report has many advantages.
- To increase the project’s focus
- Clarification of the Project
- To record every aspect of the project
- To Get a Better Perspective
- Facilitate Project Participants’ Communication
- to provide a smooth pace for performance analysis of the project
- To inspire and motivate you and the project participants
You are aware that producing a status report is essential for project management. If you don’t know, your project stakeholders or team members will inform you as soon as possible. They require information, and the best way to provide it is through a project status report.
A status report is a fantastic way to communicate the project’s current state regarding progress, hazards, and health. Additionally, you need a system that can respond quickly to sponsors or stakeholders that frequently need project updates. Although you’ll probably be producing weekly status reports, your schedule for project status reporting can be as relaxed as once per month or as rigorous as once per day.
You are conscious of the significance of status reports in project management. Your project stakeholders or team members will let you know as soon as they are aware if they don’t. A project status report is a perfect way to give them the necessary information.
A status report is the best way to convey the project’s progress, risks, and health. A mechanism must be in place that can react rapidly to sponsors or stakeholders that frequently require project updates. Even though you’ll likely be submitting weekly status reports, your schedule for reporting on the status of your project can be as relaxed as monthly or as rigorous as daily.
With the help of our free Excel status report template, you can concentrate on the most important details, provide clarity, compile a timeline of events, and even discuss the overall project strategy. However, it is simpler to prepare and share these reports using collaborative project management systems.
One of the benefits of using a status reporting template is that it helps you get a lot of the heavy work associated with project reporting done and out of the way. Even better is using a project management platform like excel template, which mostly provides the reporting tools to automate the status reporting procedure. As a result, you and your project team can now focus on more crucial duties.
Project managers may generate a status report using our project management templates with only a few clicks. These act as instant status reports, giving you a constant view of the status of your project in real-time. So, start right now for nothing.
Best Practices for a Status Report Template
The significance of a project status report cannot be overstated. They update the stakeholders on the status of your project from the front lines. In addition, they support project managers in determining whether their progress is in line with the project timeline and where they stand regarding the project plan. As a result, accurate project status reporting is crucial to any project’s success.
Recognize Your Target Market
Making ensuring the status report is being targeted is the first recommended practice. Understand your target market, the project’s stakeholders and team members. You should be aware of your reader when writing anything. Making an impact in this way is the finest option. Because of this, whether our status report template is for a stakeholder, client, or another senior management executive, make the language understandable and concentrate on the information they’re most interested in learning.
It matters even how your status report is laid out. Keep the material concise, targeted, and organized to summarise your milestones, risks, challenges, expenses, and other factors. Keep your formatting constant, no matter what you decide. As a result, stakeholders can read the report more easily because they are familiar with it and know where everything is.
Although you should keep your status report brief, you shouldn’t skip over the important accomplishments and successes from the previous period, which comprise the bulk of the report. It informs stakeholders of the successes and aids in reviewing the team’s development during the project.
Although it may seem unimportant, a project status report template’s visual presentation can greatly increase your stakeholders’ level of interest. When that happens, a project management tool or a status update template can assist you in producing a project status report that grabs the interest of your project stakeholders and project team members.
When Should a Status Report Be Delivered?
Your project’s status is continually evolving. Teams are tackling tasks, progressing, hitting milestones, and finishing deliverables. As a result, an hourly status update might be produced. That project reporting timetable would be ludicrous, of course. Messages would be buried, and the purpose of status reports would be defeated because they are communication tools.
That raises the question of how frequently status reports should be sent out. Stakeholders must be informed of what’s happening throughout your project’s timetable. Before including such information in your status report, you should speak with the stakeholders directly if there are any problems, such as running late or over budget. Never catch them off guard by breaking negative news in the status report.
That, however, does not deal with the frequency problem. The frequency of your status updates depends on how active your project is. A bimonthly status report will do if your project moves slowly and there aren’t many action items. If you report more frequently than that, there won’t be much to report. You should submit status reports weekly to capture any action items, issues, risks, milestones, and deliverables the more active your project is.
Remember that the status report is a tool to update users and stakeholders on the project. Therefore, it should be brief, precise, and timely to provide a picture of the project’s health and progress at a specific time and location. To keep everyone updated about the project and on the same page, it’s important to discuss current and future events. If you overburden them, important project status reporting data will get lost.
How to Use Excel Status Report Template
Knowing that you require it is one thing, but mastering an Excel project status report template is quite another. Thankfully, the procedure is pretty simple. So, it won’t take you long to pick it up. Here’s how to use the project management template you downloaded to make a status report.
In the project information section, include the important project highlights. The sponsor and the date will be added. Who is in charge of the project? There will be room for you to include your accomplishments and growth. If you’re presenting this information to project stakeholders and sponsors, consider it an executive summary. It’s a fantastic chance to let them know what you need and when.
Any actions that require immediate attention should be called out. This is a method of remembering important information and getting it to the right people. Someone on the project team should always be given responsibility for such action items.
Keep track of achievements. Here is where the labour-intensive work is. A milestone is more significant than a task but less significant than a project. Consider it the point at which a project phase or work bundle is finished. It’s a clever approach to keep track of a project’s advancement and whether it’s on time.
Additionally, it helps demonstrate to executives your progress. For example, red and green indicate if you are on or off schedule. Additionally, you can add comments and identify who is accountable there.
Include a list of the major dangers and problems that could harm your project. Although most projects have more than five, the template only has an area of five. Thus this is where you should list the top five. Set priorities, or you’ll become overwhelmed. To reduce any risks that might impact your project, you should have a risk management and risk response plan.
This is a useful method for letting stakeholders know how the project is progressing. They can observe the actual dangers and problems that you have identified. But then follow that up with the risk management measures you’ll take to avoid or handle them. Do not bring up negative information in this forum. Surprises are not good. Face-to-face communication is preferred when first identifying the risk or issue with your stakeholder.
Talk about the percentage of the project budget that has been spent thus far. It is a wonderful spot to highlight the total expenditure and where the project stands in the budget: behind, ahead, or on schedule. This doesn’t have to be an extremely detailed line-by-line item account. As a general rule, visualize this status template as the outline of an engaging narrative you’re telling about the condition of the project. You want to engage your target audience, whoever they may be full.
Points to keep in mind Before Writing a Project Status Report Template
Clear and frequent communication is crucial in all businesses and organizations. Therefore, updating and regular status reporting are beneficial when there is a project, and each member is working on a distinct element.
You must discuss and organize your facts to create an excellent report. By doing that, you can steer clear of frequent blunders and create a compelling and straightforward report. Here are some suggestions to help you.
Keep asking queries
This can seem like a piece of odd advice, but it’s a crucial first move. If you want your report to have a significant impact, you must understand your audience. So, inquire about their priorities by asking them questions. You’ll know better what to write about and include in your report once you’ve done this.
Once you’ve finished your research and gathered all the necessary data, you may begin drafting your report. As you work on your document, start with the broadest points and work your way up to the more precise and comprehensive ones.
Focus more on the outcomes than the activities
Avoid dwelling on the past while you write your report. Instead, concentrate and emphasize more on the report’s findings and, eventually, your project. You are not required to reflect on your life and write a detailed account. The exact last thing you ought to do is that.
You will include unrelated facts in your report if you concentrate on past activities and incorporate them. You might think the activities are pertinent. However, readers aren’t interested in specifics like every action or activity you engaged in.
The results and objectives are the two most crucial elements to include in your report. The readers will be highly interested in this information. Therefore, you must think deeply to write down the results. Making a report involves many steps for your project’s status to be accurately reported in your document.
Include All of the Important Information in Your Report
Depending on your firm, there could be several forms for creating project status report templates. We already spoke about the essential components that must be present. To include them remember to include them all in your report. Some tasks could require more time from you than others. Forth either case put in the effort and include all the crucial components.
Shorten Your Report
By all means, adhere to the template if your organization has one. Write a longer report if that’s what you’re required to do. If there are no such guidelines, you might have to make it as brief as possible.
Try to imagine yourself in your readers’ position. If you are reading one of these reports, you probably want to quickly and conveniently find out how the project is progressing. Therefore, you will appreciate a simple but direct report. Comparable to a lengthy document that is filled with unrelated content. Therefore, create a concise and comprehensive report if that is what you want to read.
You must cover everything in your report, even if it is brief. Your boss or the important stakeholders will request additional information if they require it. A quick report that outlines the overall state of your project is much better for the readers.