PROJ6003 Project Execution and Control Assignment Help
Introduction
The project executions requires the organisation to involve all the relevant stakeholders from teams to clients to be informed on the project. Project status reports are essential to inform the relevant stakeholders initially before the project produces some tangible deliverables. The Project status reports should provide such detailed information on progress of the project, employee performance, metrics, and other valuable information to track the path of the project. Status reports are managed by the project managers who are responsible to produce these periodic reports with complete information and relevant information (Wysocki, 2011). This report will focus on two style of project management reports, along with the difference between the status reports for team, sponsors, and steering committee. The status reports will also be looked upon the given case study of Blue Spider Project.
Project management report
There are various types of project management status reports as reported by Wysocki (2011).
- Risk Assessment
- Static Risk Assessment
- Dynamic Risk Assessment
- Current Period Report
- Weekly Status Report
- Cumulative Reports
- Exception Reports
- Spotlight Reports
- Variance Reports
- Milestone trends chart
- Earned Value Analysis
- Integrated milestone and charts
- Gantt Charts
- Meeting Status Report
Project is a collection of interconnected activities designed to accomplish a certain purpose within a specified time and expense, using a specific sets of resources. Because each project role has clear deadlines and deliverables, uncertainties are often considered to be risks which are likely to arise and can affect the progress of the project. There are several different risks involved in project execution, it is crucial that it is established in advance so that its mitigation plan can be planned and its impact minimized (Dinu, 2016).
What is a risk assessment?
The risk assessment provides detailed information about the number of risks involved in their impact, how likely they may occur, what measures need to be taken to resolve them. The process of a project risk assessment and management is necessary to allow for the identification of risks associated with a project. If the procedures are properly performed, the probability of successful completion of a project will be increased to the performance, cost and timelines. The project stakeholders are also interested in understanding what the key threats involved with reporting progress are (Muriana & Vizzini, 2017).
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