Project update template report or status is very important to your ongoing/pending project and through its model, you can easily manage it. Today, several types of management techniques are implemented to carry out specific missions and tasks.
Basically, a project update works like a status report of a project that tells us the current progress of the project, the phase and the milestones that have been completed. This update is shared with project managers, senior management, the board and stakeholders.
So whenever a project phase, project objective, milestones are reached, we send that project update to the relevant staff.
So, in this regard, different kinds of management tools and templates are also used, you can easily get and use them according to your needs. This project management tool has different features.
Features of Excel Project Update Template
Here are some key features of this model:
- You can easily edit/customize them
- This model gives you many options to control the project
- You can create a project reporting dashboard for your active employees
- You can distribute tasks among your employees
- This project update format helps you keep up to date with the current status of your project
- You can use this format in different types (word, excel and powerpoint)
- You can also share reports with your management, customers, stakeholders and partners
Steps to create a project update
Here are some steps to create a project update that follow:
First, you need to add a new project update to its Excel sheet.
Second, you need to give it a unique ID to this latest update which can be a name or a number.
Now in the sender option, you need to add the project stakeholders, partners or customers to whom you want to send this project update.
After that, you can save it and email it or produce printouts and mail it.
Types of project report templates
In project management, we must report on the completion of each task, phase or work package. So, to write a report, we need a professional format that can support our reporting requirements. Here are some highly recommended models:
Project Status Report Template
This project report template also works as a project update that provides brief information about the current project status, project development or project phase. You can use this data in your report.
Project progress report template
This document report tells us how much a project has been completed and what is owed. Basically, it writes up the project activities that are performed, the tasks that are completed, and the milestones that are achieved.
Project Milestone Report Template
Project Milestones is the list of the main objectives and goals of the project that we will complete. So every time a milestone is reached, we write a report about it and send it to the project manager.
In addition to these, there are other project reports that we need in project management and these are:
- Risk Report (This report shows all known and unknown risks we might face during a project).
- Executive Report (An executive report refers to an executive summary that explains the entire project plan, objectives, goals, and accomplishments in the form of an executive summary).
- Cost-benefit analysis report (This analysis report explains how much benefit we can get from a certain investment, as well as tells us about the opportunities in the project).
- Resource Report (This report gives us full details of all resources needed and available).
- Gap Analysis Report (This analysis document provides brief information on the actual status of the project and the required status or outcome of the project).