In business, no one likes surprises. This is why management in organizations are emphasizing on trends to help plan their move ahead of time. They need credible data on how the company is doing versus the current market status so they can come up with informed decisions to adjust and recalibrate whatever it needs.
The quarterly progress report serves this purpose. It provides a strategic balance between long and short-term vision which will undoubtedly instigate change within the organization. It enables the company or the organization to improve its controls and provide timely information to its stakeholders and investors.
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A well-crafted quarterly report will provide all these and more if only it is able to convey relevant data on the organization’s standing, current trends, market forecasts, and both long and short-term visions.
How to Build an Effective Quarterly Status ReportPart 1
Here are some best practices on how to come up with an effective quarterly status report:
Briefly discuss the activity or the project, including its progress and the team’s accomplishments in relation to the said undertaking during the reporting period. Identify the major tasks accomplished during the quarter and, if it is possible, discuss how each works.On the other hand, describe the product or service, if the project is being considered about its development.
Any issues or difficulties during the quarter must also be part of the report. . Discuss it in brief including the steps taken by the team to resolve it. Take note of the issues which still need resolution, most notably, if the decision needs intervention or input from other departments or approval from the top management or other stakeholders.
It is also important to include updates on the status of deliverables and project milestones reached during the quarter which are projected to be met in the succeeding quarter and the expected deliverables.
Now, it’s time to assess the project or activity based on its performance standards or metrics. Note that there should be overall project metrics, also metrics for activity and partners.
Events which are in relation to the project or tasks during the quarter may also be part of the report. Briefly discuss what the event was all about, who is involved, what happened during the event, and, most importantly, the impact it made on the project.When reporting about meetings for the project, it’s not enough to mention where it was, and who was there. The essential things to discuss are the agreements from those meetings, and the output, if there are any.
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Templates on ProsperForms:
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ProsperForms — set up a form and start receiving submissions from your colleagues in minutes. 100+ forms available: reports, logs, requests, etc. or build your own. View and manage submissions on Timeline and Dashboard screens, generate PDF reports. Get Started
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Create a “Project Status Report” applet — customize our preset forms or easily create a new form in minutes.
Setup reminders if you want your team members to receive automatic reminders when their reports are due.
Configure who will submit reports by choosing the “Participants” tab.
Step 2: Users will click the “Open Submission FormPixelmator 3 4 2. ” button to fill in and submit the report. Cashew 1 10 4.
Data such as the report type, date and name will be added automatically.
As soon as a new status report is added, participants with “View” rights can view it in real time.
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Step 3 (Optional): Generate a report and export it to PDF. (Skip this step if you share status reports online and don’t print them.) Click “Generate Report”.
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Done!
Benefits:
Make project reporting easier with auto-fill: Fields such as date, name, report type, and formatting are inserted automatically by software.
Consolidate reports automatically: Reports created by your team members can be consolidated easily.
Save time with auto-layout: No need to spend hours in Word or Excel perfecting the report’s layout because it exports your updates into a beautifully crafted file with a couple of clicks.
Peace of mind with auto-reminders: No one forgets to fill in their status reports because ProsperForms automatically sends timely reminders according to the schedule you chose.
Decrease time and effort spent on monthly, quarterly, and yearly reporting thanks to powerful filtering and export features.
Quick sharing: Status reports can be either – exported to files and printed, or sent by email; – shared with the manager online (in real time); – optionally shared online as team-wide status reports, i.e., all team members share their progress with each other to spend less time on meetings.
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