Level Up Reporting with a Project Dashboard

Are you including a Project Dashboard? Or are your reports still boring and in a standard Word document that you get 12 times a year?

It seems absurd to consider that you only have 12 opportunities each year to make decisions.

Revamping your project dashboard is crucial for nailing your construction reporting. Using a Project Dashboard can greatly improve your success, while using old or poor ones can cause problems.

This article discusses the essential components of contemporary reporting systems and provides valuable advice for enhancing them to achieve excellent project outcomes.

Why You Need a Project Dashboard

Construction projects are pretty complex, with lots of phases and activities from start to finish. Coordinating and integrating all the information through these phases makes project reporting quite a challenge. Reactive reporting, produced only in response to immediate needs, can lead to missed deadlines, budget overruns, and unmet stakeholder expectations.

To avoid these pitfalls, organizations must establish proactive and tailored reporting systems. These systems should meet the industry's needs and follow the rules set by boards, shareholders, and regulators. The goal is to finish projects on time, within budget, and to make everyone happy.

Three Key Steps to Level Up Your Project Dashboard

To make your project reports better, focus on three main things: being clear and accurate, having clear goals and purposes, and having a good layout, timing, and way to share the reports. Don't accept mediocre work!

1. Maximize Transparency and Accuracy

Being open and accurate is fundamental for any good reporting system. Stakeholders need clear and accurate information to make smart choices and adhere to the rules and project needs. They don't want their questions answered later; they want them answered now!

Here are the key things to keep in mind:

• Ability to Deep-Dive into Detail: Reports should let stakeholders check the original data to ensure it is accurate and relevant or get their answers quickly.
• Level of Redundant Input: Minimize redundant information to avoid confusion and duplicate entries.
• Amount of Manual Adjustments: Excessive manual adjustments can be a red flag, indicating underlying issues that need addressing.
• Relative Size of Variances: Significant variances between reported data and actual project costs suggest the need for system evaluation and remediation.
• Number of Discrepancies: Reports should be consistent and free of contradictions.

2. Clearly Defined Objectives and Purpose

A reporting system must have clearly defined objectives and a purpose to be effective. With advanced software, reporting large amounts of data in real time can be overwhelming if not managed well. Important considerations include:

• Usefulness for Decision-Making: Reports should provide accurate and meaningful information to facilitate decision-making.
• Ease of Understanding: Data should be turned into easy-to-understand formats, like charts, dashboards, and summary reports.
• Ability to Satisfy Regulatory Requirements: The system should support quick and comprehensive regulatory reporting without the need for excessive ad-hoc reports.
• Level of Security and Data Integrity: Robust security and data integrity protocols are essential to protect sensitive project information.

3. Consider Reporting Layout, Timing, and Distribution

Getting the layout, timing, detail, and distribution of reports just right is super important. Here are the key bits:

• Types of Reports and Format: Reports should be designed to communicate underlying information effectively. Common report types include project dashboard style, summary management reports, summary cost reports, risk reports, and milestone schedules.
• Timing and Frequency: Create reports that match the needs of management and stakeholders. Avoid making extra reports. Avoid creating a monthly project report that nobody reads. Use a system where everyone can see reports anytime, all year.
• Distribution: A good project manager should specify who receives which reports and when. It should also strike a balance between controlling information and sharing it with a wider audience. Go one better and allow people to ‘self serve’ repots on demand via your dashboard.

Utilizing Project Dashboard Templates

Using reporting templates can be a game-changer for your project reports. Here’s how you can make the most of them:

• PowerPoint Dashboard Template: PowerPoint dashboard templates help you organize complex data into an easy-to-read format. These visually appealing templates help stakeholders understand the project's progress at a glance.

• Project Status Update Template: A project status update template keeps everyone informed about milestones, upcoming tasks, and any issues. It ensures consistent reporting, making it easier for stakeholders to track progress.
• Project Status Report Template PPT: For formal presentations, a project status report template PPT is ideal. These PowerPoint templates cover budget changes and risk assessments, making sure no details are overlooked.
• Project Status Slide: A project status slide is perfect for quick updates or summaries. It highlights key achievements, major milestones, and critical risks, making it useful for briefings.
• Project Update Template: Regular updates keep everyone aligned with the project's goals. A project update template helps keep track of progress by providing a structured format for weekly or monthly updates.

Using these templates can streamline your reporting process, save time, and improve the clarity of your reports. They also make it easier for stakeholders to stay informed and engaged. Many of these templates are available online for free, ready to elevate your reporting game.

These tools ensure your project reports are informative, engaging, and visually appealing. This helps improve communication with everyone involved in the project and makes it easier to manage the project effectively. As a result, you will achieve better outcomes and keep stakeholders satisfied.

Case Study: Effective Project Dashboard Reporting in Action

Newcastle Airport is getting a big $200 million upgrade, with $110 million going towards improving the terminal. This will make the airport better for passengers and help the region's economy in the long run.

Previously, the airport struggled to manage and report on projects due to messy and unclear methods. This led to problems and mistakes.

Since 2022, they have implemented Mastt's Project Reporting Platform to achieve highly visual, consistent, and timely reporting. This platform brought together their project reports, using visuals to show progress, expenses, risks, and approvals, making reporting easier.

Mastt adoption changed Newcastle Airport's reporting from slow and manual to a single, efficient platform. Key benefits include timely reporting, enhanced stakeholder transparency, and improved decision-making. Reports are now prepared on time, saving each team member one day per month and reducing frustration. The consistent and simple reporting has increased stakeholder trust and reduced questions from non-project stakeholders.

This change has improved the team's ability to handle complex reporting tasks. Mastt is now a crucial part of the Airport's Infrastructure department. This ensures the successful completion of their important capital program.

Conclusion

Effective project reporting is essential for the success of construction projects. Organizations can significantly improve project outcomes by ensuring transparency and accuracy, defining clear objectives and purposes, and appropriately managing reports' layout, timing, and distribution. Implementing robust reporting systems helps project owners and developers make informed decisions, build stakeholder relationships, and address project challenges proactively.

To improve your project's chances of success, reach out to project advisory professionals for help with your reporting systems. They can evaluate and improve your systems, fix any issues, and guide your projects toward success.