PROJ6003 - Risk Management Plan: Analyzing Project Status Reporting

This discussion post delves into the challenges and pitfalls associated with project status reporting, emphasizing the importance of accurate and unbiased reporting for effective risk management. It explores how factors such as executive reliance on project staff, biased reporting, cultural norms, communication gaps, and inadequate audit processes can lead to misreporting and project failures. The document also highlights the differences in status reports tailored for project teams, sponsors, and steering committees, emphasizing the need for customized information to meet the specific needs of each stakeholder group. The project team's report focuses on development tools and methodologies, while the sponsor's report concentrates on investment and resource utilization, and the steering committee's report provides a high-level overview of the project portfolio's financial health and staff information. This resource is available on Desklib, a platform offering a wide range of study tools and solved assignments for students.

Running head: RISK MANAGEMENT PLAN
Assessment 2: Part A
Risk Management Plan
Part A: Discussion forum
References

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Difference challenges and pitfalls associated to status reporting
The process of status report is referred to as a document that helps the project managers
to track whether the project is running on the correct direction or not. The project status report
must be analyzed frequently after each project phase accomplishment. It is role of project
manager and other project associates to prepare the document and check it on a frequent basis.
This kind of report can be utilized as a communication tool and must be used by the project
associates each time. There are different type of project type that widely used by project
managers to check the status of the repots. Each and every members associated to the project
team need to check all the project management aspects. Team availability report, risk assessment
report, project time tracking report, baseline reporting and status tracking are the different reports
used by the project associates. The aims of the project associates are to complete any project
within assigned time and budget.
Different challenges and pitfalls associated to project status reporting are all illustrated in
the below section:
The executives may not be able to rely on project staffs and all other employees for
reporting status report and current status of the project and to discuss regarding project details
while issues and problems are found. The research defines that, Project management writes
biased status reports likely to be negative and positive. The success of any personnel is
dependent on success of a project.
Different reasons are there which is root for people misreporting based on project status.
The optimization and authors cite risks takers are more likely to the misreport traits. It is

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determined that work ambiance which is dependent on professional project management rules of
conduct is less liable o produce the project status reports. The other causes for which mostly the
project misreporting issue occurs include collective cultural rules norms and regulation,
communication gaps etc.
An unprofessional project audit team cannot counter the effect of misreporting of status
regarding the information shared by the project staffs. The project team members have the
ability to hide information from auditors. The internal project reporting structure gets interrupted
due to theses reasons. The project misreporting issue occurs if the executives are not reported
timely.
If any project executive is given the charge of a project head then the entire project can
be misreported. In some cases issues are being identified with QA auditors and project executive
directors. A project will be a complete failure if at the initial stage no proper risks are identified.
The risk report log needs to be identified and updated accordingly. If proper update is not done
then the success criteria would fail to meet the objectives. An integrated timesheet is also needed
to be updated however if this is not done then the entire project status report will be a failure. If
the project executives ignore to take all responsibilities then the project status report will fail to
identify the proper one.
The project status report for project team, sponsor and steering committee are different
from each other and the differences are as follows:
Status report defies by project team: The project status report documented by the
project team members contains project development tools, software and best practices needed for
the successful completion of the project within assigned timeline and budget. The status report

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defines team member’s roles and responsibilities including the importance of real time
communication. This report also identifies the project management methodology that has been
followed for the project design and development. The assigned individual roles and
responsibilities are also elaborated in the status report. The way through which team will get
better equipped to handle project status are also elaborated in the report. How each team member
can use the tools and techniques for accomplishing the project within time and are also
elaborated in this report.
Status report defies by Sponsor: The executive reports are consists of the total
investment done for developing each phase of the project. This report also determines the use,
frequency and use of the investment in each phase. In order to fulfill the project communication
needs this report or document is very essential. As per changing requirements this report needs to
update. The sponsor defines the
Status report defies by steering committee: The project steering committee report
summarizes the status of the project folio within specific time period. This report shows a detail
financial and health a metrics offered by the detail overview of the project folio. It also provides
details staffs information along with their roles and responsibilities. Manual information
management system should be used by steering committee to automatically refresh and update
the information related to the project. In order to prepare the data management system the
steering committee must use proper tools. Different tools and techniques used by project
associated to accomplish the project are also elaborated in steering committee reports. The total
number of working days, the days left, remaining efforts field for earning and efforts given by
individual are also demonstrated in this report.

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References
Badewi, A. (2016). The impact of project management (PM) and benefits management (BM)
practices on project success: Towards developing a project benefits governance
framework. International Journal of Project Management, 34(4), 761-778.
Binder, J. (2016). Global project management: communication, collaboration and management
across borders. Routledge.
Hornstein, H. A. (2015). The integration of project management and organizational change
management is now a necessity. International Journal of Project Management, 33(2),
291-298.
Joslin, R., & Müller, R. (2015). Relationships between a project management methodology and
project success in different project governance contexts. International Journal of Project
Management, 33(6), 1377-1392.
Kerzner, H. (2017). Project management metrics, KPIs, and dashboards: a guide to measuring
and monitoring project performance. John Wiley & Sons.
Kerzner, H., & Kerzner, H. R. (2017). Project management: a systems approach to planning,
scheduling, and controlling. John Wiley & Sons.
Todorović, M. L., Petrović, D. Č., Mihić, M. M., Obradović, V. L., & Bushuyev, S. D. (2015).
Project success analysis framework: A knowledge-based approach in project
management. International Journal of Project Management, 33(4), 772-783.

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