How to Create a Project Report in Microsoft Word
Project reports are one of the most valuable tools in monitoring the progress of your business investment. Besides giving insight on how well the project is going, it also helps in tracking the schedule and budget. Overall, this vital document sheds light on the deal and its productivity. Every entrepreneur should recognize the importance of business reports in learning more about the growth of their business. Having project reports provides a detailed account of the business plan, and it contains the trail of evidence of the business dealings.
1. Gather Details About the Project
The first thing to do when you're about to make your report is to gather necessary information. If you're making a proposal project report, give details about the people involved, the allotted project budget, and the overview of the business deal's general information. Moreover, you have to specify the engineering group that will handle the construction when your project is real estate. Be sure to mention the expected expenses of the project before it starts, if its a proposal. When it's an ongoing project, you have to include the additional payments done (if there are any). If your business is manufacturing, be sure to have a section about the materials used in the production. As much as possible, be transparent.
2. Duration of the Report
Another essential portion of your project report is the extent of the information it covers. In editing the project report template in Microsoft Word, you can either do a monthly or weekly report for your project. Establish the duration of your report to avoid confusion and miscommunication. On the other hand, if your report is still a proposal, you have to define the completion date of the project. It's crucial to be specific about the dates because resources are limited. Companies want their investment to have profit in a particular timeframe, so being heedful about time matters.
3. Include an Analysis
To complete your report, you need to introduce an analysis of the project. The content is about the effects of the project to the stakeholders and the people around the area. It also includes the advantages of the construction (if real estate, bridges, roads) to the citizens. Part of the analysis is the assessment of the project and its economic impact on the community. In the management report, the analysis also contains plan deviations and how the company will address this.
4. Have an Issues and Risks Summary
In any activity, hazards and problems are unavoidable. That's why in your project work report, you need to list out the issues and risks that everyone might encounter when doing the work. Summarize all the possible complications you might meet in the workplace and include solutions. You have to highlight the resolution to problems like safety and natural disasters. Remember, preparation helps in creating a successful output.
5. Deliver the Report
Your report becomes an executive summary of the project's progress. It's essential to keep it simple, professional, and direct to the point. When you've accomplished editing the project report template, you can send it to the respective receivers. Do recheck the content before sending it to prevent problems in the future. Keep the file template in your laptop or computer when you need to update the report.