Design Templates for Reporting Performance

Design Templates for Reporting Performance
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University

Design Templates for Reporting Performance
Abstract
Achieving the performance targets is the ultimate aim for any organization or project. Many project management tools have been designed to ensure the performance objectives are achieved. Tracing performance at regular intervals and ensuring the execution is according to the plan and target is of paramount importance in project management. This paper will discuss the essentials and different aspects for reporting performance in a project, the importance of these aspects in performance reporting and how they address the needs of the target audience.
Reporting performance of a project is essential for a successful project as management as project team and stakeholders must be kept well-informed on project status at regular intervals along with any changes made in the project (Wysocki. 2004). A few key performance reporting requirements are as follows:
Cost
The project’s cost is the primary element to be reported. This template should include the expected cost as outlined in the budgeted costs for the project and the actual costs incurred along with the variances. The cost area should also focus of the schedule performance index (SPI) and cost performance index (CPI) which clearly indicates any deviation of scheduled and current performance (Richman, Larry, PMP. 2011). This would give a clear indication whenever the performance is assessed as the project is in surplus or deficit. This is of key importance to the donors of the project to trace the progress.
Tim...