An executive project status report is a concise, one-page document about the current status of a project. It is a snapshot that includes the most relevant and high-level information that stakeholders and C-suite members of the organization need to confirm if the project is off track, on track, or at risk. Rather than real-time project updates, an executive project status report provides a summary of events in projects and explains the way they deliver value.
Executive Project Status Report vs Project Progress Report
An executive project status report informs stakeholders about the whole project, the current status of time, budget, dependencies, risks, and the way they fare about baselines. On the other hand, a progress report shows the project’s progress since the previous report.
Benefits of an Executive Project Status Report
The biggest challenge for people in charge of project management is to provide an up-to-date and comprehensive overview of an entire project. Suppose you do not have a holistic and accurate view of a project. In that case, the business leaders will face blind spots about the project’s current status that may lead to ineffective decision-making. An executive project status report will help tap several benefits as you can:
- Use real-time data to keep stakeholders aligned on project status
- Track project health to identify bottlenecks and risks
- Remain reactive and agile as you identify problems promptly
- Provide context and clarity for the team and around other roles
- Enhance the accessibility and give people the information they need to make decisions
- Reduce the number of meetings and provide data for people to check when available
- Reduce manual work and save time by reducing data gathering for projects from other places
When should you update your Executive Project Status Report
When should you share the executive project status report depends on your specific project. For example, if the project is moving fast and has short-term milestones, you should share the executive project status report weekly. However, if your project is moving slowly and has long-term objectives over a long timeline, the best way is to send monthly reports to keep the stakeholders updated.
Whatever frequency you choose, the important thing is to keep stakeholders informed about the project’s health regardless of whether the project is on track or off track. You can also use a reporting tool to set reminders and create reports each month or week.
Executive Project Status Report Template Word
Executive Project Status Report Template Excel
Executive Project Status Report Template PowerPoint
Use the templates above to provide executive stakeholders with a high-level project status report, including updates on accomplishments, key milestones, risk, financial overview, high-level requirements, and issue summary. These templates allow the creation of a detailed report and to organize data into overviews and add sections to customize them.
Executive Project Status Report Online Tools
The ClickUp executive project status report template will assist you to keep projects on schedule and update the stakeholders. Through different views and custom fields, this template will enable you to oversee projects easily.
Best practices for writing effective Executive Project Status Report
Here are some of the best practices to create an executive project status report:
- Visualize your reports
Images make reporting easier for the eyes. No one wants to trawl through complex numbers and walls of text. You can make your reports easier to understand and read by adding visual elements such as pie charts, graphs, bar charts, videos and pictures, and mind maps.
- Automate the status reports
To check on the status of your strategy, use project management software. The software will enable you to track work on the go and make it easy to compile reports.
- Build custom reports
Before writing reports, consider the target audience. Tailor the executive project status reports matching the expectations and needs of the stakeholders.
- Don’t get lost in details
Most of the stakeholders skim through the reports and get the important details they need. You must keep the report digestible, concise, and focused on relevant information.
- Executive summary
Write a sweet and short executive summary so every stakeholder can quickly grab the essential information on the go. Highlight the risks and the list of actions and recommendations in your summary.
- Use dashboards
A good project manager will know what’s happening with the project at any time. You’ll be able to share with the stakeholders what’s coming next and how you will handle curveballs. To have this, you must have a dashboard.
Executive Project Status Report FAQs
What important details should be included in an executive project status report?
Be sure to include a project summary that includes activities, issues faced, and how problems will impact the project resources, quality, costs, and timeline.
What is the purpose of an executive project status report?
The purpose of this report is to efficiently and effectively communicate the status of a project.
Who writes an executive project status report?
The project managers write the executive project status report to keep the project stakeholders updated with the latest details and progress as the project makes progress. It is a high-level reference of key transitions and milestones between project phases in the timeline.
What is the impact of the status report?
Executive project status reports are used by managers to keep key stakeholders informed about the project’s progress. These reports enable teams to mitigate risks before they arise and ensure that the project goals are met.