Product development projects are always risky. That's why it's important for companies to track their progress in a careful way. One way to track how a project is going is by using the Highlight Report. This report can help you record how the project has progressed, what risks have been encountered, and what actions have been taken to address these risks. You can also use it to identify where future risks are likely to occur.
Highlight reports are used as short, regular updates to show how the project is going. This helps keep the project team moving forward and improves communication with stakeholders. The reports also help keep everyone informed about what is happening in the project.
The Highlight Report is, similar to the Agenda; an agenda for your next meeting. It's also a living and breathing document that may be updated as needed. The first thing you need to do is explain what format and frequency should this report follow. This way, everyone knows how often should this report be produced and how detailed it should be.
Highlight Reports should always include the same things: progress made, issues encountered, and what actions have been taken to address these issues. It's also a good practice to include future risks that could impact the project if they do not receive attention.
Highlight Reports are usually created at the end of a reporting period or when someone requests them. This should be planned before the project starts, as it needs to be part of the initial Scope of Work. If you think that your reporting process is missing something, you can always request a review.
The Highlight Report is a great tool to make sure everyone stays on the same page throughout the life of a project. As a project sponsor, you should review this report regularly and communicate with your team about any issues identified. This way you can ensure that those problems are being resolved quickly and without affecting other parts of the project.