Although the size and complexity of a project will indicate the extent and nature of the reports required, a robust reporting portfolio is essential for keeping a project on schedule and on budget. Portfolios of this nature may include the following as defined below: the project charter and management plan or “scope”, inventory documents detailing resource requirements, project scheduling, budgeting, program milestones, key performance indicators and risk assessments.
The Project Charter is the primary document for getting stakeholders to align behind an agreed upon scope. To track planned and actual progress, record changes and identify drivers for adjustments a Project Management Plan (PMP) is created. If changes of the scope are required, a modified charter should be established to ensure key stakeholder buy in.
Reports on scheduling provide an evaluation of both planned and actual activities and program progress against already established project milestones. Changes in available resources may drive adjustments to the schedule. These changes are reported along with associated risks to the project timeline. Through this process, critical path items are identified and monitored.
Budgeting reports provide a comparison of actual versus planned costs as well as progress made towards documented project milestones. Maintaining a record of these items allows for the identification and monitoring of potential funding risks and project specific priorities. With reporting in place as an assessment tool, adjustments to budgeting and scheduling may be more easily enacted when the organization experiences a change in available resources.
DuraBante collaborates with the organization in defining and establishing project milestones. Once identified, progress and costs for performed work may be assessed and documented.
Key Performance Indicators
Identification of potential adjustments is needed to streamline a project’s activities and pinpoint any detractors or “bottle necks” within the created system. The assessments and documentation acquired through tracking milestones are utilized together with key performance indicators in determining if a project will successfully meet budgeting and scheduling plans. If this is not the case, adjustments may be necessary.
All equipment and materials needed for the completion of a project, as well as the status of these items, are identified and documented. Assistance is given to organizations in maintaining records of availability or possible future risks to availability through consistent monitoring and regular reporting.
Potential areas of concern for delayed project completion, or going over budget, may be identified and addressed through a preliminary risk assessment. These assessments precede regular evaluations of key performance indicators, serving as a method of pinpointing potential future complications. Risk assessment provides a predictive measure in which DuraBante facilitates an organization’s understanding of the potential for complications. A plan of action is then developed to counter-act or stop predicted adverse outcomes prior to them becoming a reality.