Project Status Reporting: Templates, Traffic Light Reports, and Differences in Approaches
Verified
Added on  2023/06/15
|9
|1302
|466
AI Summary
This article discusses project status report templates, their advantages and disadvantages, challenges and pitfalls of traffic light reports, differences between status reports for teams, sponsors, and steering committees, and differences between traditional and agile project management approaches. It also includes a reference list.
Contribute Materials
Your contribution can guide someone’s learning journey. Share your
documents today.
Running head: PROJECT EXECUTION AND CONTROL Project status reporting Assessment 3,part A Name of the Student: Shiva karki, Mohammad Asfaq
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
2 PROJECT EXECUTION AND CONTROL Table of Contents Explaining two project status report template and discussing its advantages and disadvantages...3 Discuss the challenges and pitfalls of traffic light reports...............................................................6 Differences between the status reports as rendered for teams, sponsor and steering committee....7 Difference between traditional project management approaches and agile project management approaches.......................................................................................................................................8 Reference List..................................................................................................................................9
3 PROJECT EXECUTION AND CONTROL Explainingtwoprojectstatusreporttemplateanddiscussingitsadvantagesand disadvantages Thetwostatusreporttemplateismentionedbelowwithproperjustificationand discussing its benefits and limitations individually. Figure: Project status report
4 PROJECT EXECUTION AND CONTROL (Source: Serra &Kunc, 2015) The above project status report elaborates each of the components in detail where it is categorized as project summary, project key parameters, project schedule and project risks and issues. This project status report is prepared by the project manager in order to note down the status of the specific project they are working upon. Each project status report is unique and differs largely.In this report, name of the project, name of the project manager code of project and status date is mentioned to give detailed analysis of this specific project carried by the project manager (Braglia & Frosolini, 2014). To explain in detail about the above project status report, it is important to look at the strengths and weakness of these reports. The strength of this project report is to understand the status of the project and it gives clear presentation in the form of template where each of the aspects is mentioned in detail. This project status report helps in monitoring as well as tracking project costs and budget utilization (Hausdorf, Risavy & Hunter, 2014). The weakness of this project status report is that the report does not talk about any qualitative characteristics about the project status such as personality traits of individual, work climate and cultural norms that plays major role.
Paraphrase This Document
Need a fresh take? Get an instant paraphrase of this document with our AI Paraphraser
5 PROJECT EXECUTION AND CONTROL Figure: Project status report (Source:Marcelino-Sádaba et al., 2014) The above project status report is prepared by the project manager as it help them in decision-making process, monitoring the level of progress of a given project and communicating with stakeholders and maintaining performing organization capability. Disadvantage, on the other hand, there are situationwhen project manager tend to load the report with too much of information.
6 PROJECT EXECUTION AND CONTROL Discuss the challenges and pitfalls of traffic light reports Challenges of traffic light reports Liability- One of the challenges of traffic light reports is liability. The reason behind this can be a simple malfunction of the control system and that can result in road accident. This issue needs to be solved and ensure optimum functionality of the software that should reduce any malfunction of traffic light reports. Privacy- One of the challenge of traffic light reports if privacy.On analysis, it is noted that issue of privacy had become one of the major hindrance to its adoption or commercialization (Marcelino-Sádaba et al., 2014). Costs- One of the challenge of traffic light reports is costs. Huge costs need to be borne while adopting any new technology for optimizing traffic status control and act as a hindrance towards its adoption. Pitfalls of traffic light reports Rulesusedforallocatingtrafficlightcolorsformeasuringpurposearemostly inconsistently defined as well as used The second pitfall of traffic light report is that interpretation of these traffic lights are rarely consistent with performance improvement The third pitfall of traffic light report is that the rules of traffic lights are statistically invalid assessment that is used for assessing current performance.
7 PROJECT EXECUTION AND CONTROL Differencesbetween the status reportsas renderedfor teams, sponsor and steering committee Project status reports useful to teams Within the project management lifecycle, the project manager prepares project status reports and it is helpful for the team to acknowledge individual as well as team accomplishments in a timely and organized way. Project status reports useful to sponsor Mostly, the Senior Manager who is representative of the business area gets the greatest benefit from the project status report. The project sponsor has the responsibility to ensure that the project status reports are received as well as reviewed on regular basis. This Project Sponsor have to address the issue when the issue cannot be resolved by the Project Team. Project status reports useful to committee The Steering Committee should consist of key stakeholders that include the project sponsor and the project owner. This Committee is responsible to provide executive level support as well as guidance and direction. The Committee properly reviews the progress of the projects. The Committee has the responsibility to address the issues that relates to scope, resources, schedule as well as budget when escalated and in case the issue cannot be resolved by project manager or project sponsor (Serra & Kunc, 2015).
Secure Best Marks with AI Grader
Need help grading? Try our AI Grader for instant feedback on your assignments.
8 PROJECT EXECUTION AND CONTROL Differencebetweentraditionalprojectmanagementapproachesandagileproject management approaches There are different project management approaches that are considered by the project manager. In this section, two project management approaches are discussed named as traditional project management approach and agile project management approaches. Using two of these approaches together on the same project can be counter-productive as well as highly explosive by nature. Using both of these approaches together can cause disorder in the overall company systems that make the productivity lower. To compare between these two approaches (traditional project management approaches and agile project management approaches, it is found that Agile focus on adapting changes into its core plan and still can be quite responsive but traditional one need manager to control the changes. By comparing both the project management approaches, it is advisable to use agile project management approach by the project manager. By using agile management approach, customer engagement will be given utmost priority and this approach is clearly the winner amongalltheothermanagementsystems.Aftercomparingthefeatureswithtraditional approaches, it is noted that features of Agile come to the fore and it is considered as one of the top software used by companies in and across the world.