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Related: Free Status Report Template for Excel That’s why we have created this ultimate project status report checklist, along with a handy guide below for how to create the best possible status report for your next projects.

But the project status report can do a lot of things other reports can’t.

It’s a vital communication tool, and it can provide a documented history of the project, which makes planning for your next project easier. All this information is essential, if obvious, to track the paperwork.

Most PM tools let you generate some kind of project reports, but Project automates reporting, so you save time.

In Project Manager.com, you can generate a variety of reports in one click, from project and portfolio status reports, to task progress report, timesheet reports, workload and allocation reports, expense tracking reports and more.

Some of us use templates, others Power Point, and some produce their reports straight out of their project reporting tools. Whatever format you use, adhering to a regular and formalized process helps you save time and costly data mistakes.

Also, by being consistent in your reporting process, you maintain stakeholder expectations, so everyone is aware of what information they can expect on a regular basis.

You can also customize your project reporting and get the right data for the right audience by filtering the project and data columns you need.

The great thing about having the data on your software is that you can always drill down to get finer detail if asked.

That way, if a stakeholder wants to drill deeper on the data, you can do so in real-time so they have the most current picture of the project’s progress as possible.

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