When to develop a project status report template
Project status reports should be an integral part of the ongoing reporting process throughout your project's lifecycle. As mentioned above, the frequency of project status reports largely depends your individual project's needs and context.
Nevertheless, it's a great idea to prioritize the development of a project status report template as early as possible in the project planning process if you're planning on using one. You should be using the same template throughout your project's duration (updating and editing it as you go), so having a strong template to work off of from the get-go is a huge advantage.
How often should project status reports be written?
As mentioned above, one of the key elements of successful project status reporting is determining the frequency that's right for you, your project, and your team. Here are some factors to keep in mind when it comes to determining how often you should send out project status reports:
1. What's the estimated project length? If your project is predicted to be carried out over 12 months or less, consider monthly project reports. Multi-year projects often call for quarterly reports, whereas quick, short-term projects of less than a few months require weekly or even daily reports.
2. What's the level of cost and/or risk associated with the project? Generally speaking, projects that have higher budgets, involve more resources, or are considered high risk involve more regular status reports. This is because the stakeholders and other parties involved will likely want to see where their time, resource, and risk investment is going as the project develops.
3. How's the working relationship between the project stakeholders? When professionals are working together for the first time, more communication (and therefore status updates) is required as they get to know each other and establish their working relationship. Project teams that have worked together before often require less frequent (or less detailed) status updates.
4. Is the project considered to be relatively standard or highly complex/specialized? Once again, project management teams with extensive experience working on a relatively run-of-the-mill project will likely require less frequent status updates. On the other hand, if a given project is viewed as highly complex, specialized or otherwise difficult, more frequent status updates are a good idea.
Using the questions above, consider your project's specific situation and think about what would best suit the needs of all parties involved.
Slite's free project status report template
Are you ready to get started with the development of a project status report template for your next project?
Check out the template below and use it as a starting point for your project reporting process. It's easy to adapt to your company situation and specific project needs. Oh, and did we mention that it's free? What else could you ask for in a project management tool?
Forget about emailing documents and Excel files back and forth... you can rely on Slite to streamline your project planning process. We want to make it easy for your project team to work together collaboratively and keep everyone in the loop, no matter where the members are located.