Project Performance Reporting
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Topics: Cost Management, Quality, Risk Management, Scheduling, Knowledge Shelf
Introduction
Project-status reporting is intended to enable decision makers to make informed decisions that will increase the chances of achieving a favorable outcome. Furthermore, it is a vehicle to communicate project performance information to project stakeholders.
The information portrayed in the Project Status Report (PSR) pertains to variances from the original project baseline plans for schedule, cost, quality, and safety.
An effective PSR will command the attention of project executives and decision makers, and help focus their attention on critical deviations from the project’s baseline plans that pose risks to achieving a favorable project outcome.
Unfortunately, PSRs are seldom read by project executives and are often shelved upon issuance.
The underutilization of this project tool, which is intended to be a key to project success, is rooted in a multitude of reasons including:
- Report content: Issues that are common knowledge to the project team (yesterday’s news), should be addressed in terms of how effective the current mitigation measures being employed to correct them are, while newly evolving issues should be clearly identified along with a discussion of potential mitigation measures to correct them.
- Presentation of project data: Content of a PSR is paramount; however, the effectiveness and reach of the message lies in the …
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