These reports contain information about status or performance of anything. It can be any type of status report like employee status report, employer’s status report and business status report etc. status reports give the all details of specific data. These reports are very helpful for evaluation of annually performance and benefits or losses. Employer can take decisions on the basis of such reports by matching it with predefined standards. These reports are also helpful in future decisions. These reports play very important role in process of auditing. Auditor specially checks such reports. These reports bring improvements in current situations.
It usually exists between the project manager, the client and the internal team to periodically update everyone as to where the project is in relation to where it should be at that point in time. They are a useful tool to focus everyone on the same issues every week. It also helps you in regularly checking the current status against the original quote or plan. It also gives you a record of what, and when, things have happened throughout. People can pick up the project much easier if they have a reference point to check. It will also highlight the status of your project.
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