Question

status reporting provides value to an engagement in what ways?

Answer 1

Explanation:

Benefits of a status report include:

Provide an informative and collaborative team environment.

Save cost and time through accountability, visibility, and feedback loop.

Provide a consistent, efficient, and effective approach for reporting project status, health, accomplishments, issues, and risks.

Answer 2

Answer:

e. enabling all stakeholders to stay regularly informed about the progress for an engagement.

Explanation:

The proper execution and governance of a project lifecycle require regular status reporting and feedback. Depending on the scale, complexity, and duration of the project, as well as stakeholder needs, status reports are produced on a weekly, biweekly, or monthly basis. While a status report is beneficial to project execution, it is also beneficial to other corporate initiatives and should be considered for any endeavour or initiative.

When the following situations occur, a status report is used:

• External clients are impacted by the project.
• The project is critical to the organization's success and strategies.
• The planning and execution phase of the lifecycle begins with an active project.
• The project's sponsor, stakeholders, and top leaders are all very involved and enthusiastic about it.

The following are some of the advantages of a status report:

• Create a team climate that is both educational and collaborative.
• Accountability, visibility, and a feedback loop can help you save money and time.
• Provide a method for reporting project status, health, accomplishments, challenges, and risks that is consistent, efficient, and effective.
• Increase key stakeholders' and project team's focus and attention on project governance and accountability.

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