For success and development of business projects given to business must be completed on time which helps in maximizing profit generation for business as well as earning good fame for business which helps in getting more projects later in field of competitors.
Project Status helps in process of improving communication between managers and senior management as well as improved communication between team members and project head. Its Excel Template consists of key information regarding milestone of project in a single sheet which can be viewed by management team who needs it.
Purpose of Project Status Update
Importance of time is fundamental for continuous growth of business.
Project managers have key responsibility of completing projects on time.
Therefore they want to asses’ performance of workers in their team anytime.
It helps in highlighting issues as well as threats to life of project.
It helps in early detection of risk factors and limiting factors.
Issues and problems can solve on time to prevent any time wastage.
Solution of problems can generate before their occurrence saving labor time which is a major expense for business.
It helps in informing project managers the present condition of project.
In case of any major change need it can made available by senior management showing project current position.
Also consult other related topics on status report:
Microsoft Excel Template for Project Reports
Different types of templates are available in excel as well as various form of diagrams which helps in explaining project reports more precisely. Project status reports can update weekly or monthly as the need of project.
This report is divided into various sections which help in highlighting main features and outlining problems at that stage. Report use by managers or stakeholders to offer solution of various problems at the time of arrival or before they occur. The report also helpful in meetings and conferences for better communication purposes.