Project Update TemplateProject Executive Update TemplateA concise format for providing a business improvement project summary update to key senior stakeholdersProject Update Template –Overview© 2018 EXPERT TOOLKIT | ALL RIGHTS RESERVED | USAGE PERMITTED ASPER USER AGREEMENTPage 2What is itThe Project Update Template is a simple, concise format template for communicating essential information to key stakeholders regarding progress, findings and benefits delivered as part of a business improvement initiative. It is complementary to the Project Status Update Template, however the Project Update Template is broader, provides additional context and focuses more on presenting findings, insights and benefits rather than reporting on the status of project delivery.Project Update TemplateWhen to use itThe Project Update Template is best used when reporting to senior business executive stakeholders interested in the business outcomes being delivered on a project. The template should be used on a cadence appropriate for the initiative being delivered and at critical project milestones where there is important information (results, findings, benefits, insights) that need to be communicated.Why use itClear, concise stakeholder communication is of critical success to any business improvement or transformation initiative. While it is important to have clear reporting as part of regular program governance mechanisms, it is also essential to report upwards and outwards on critical program benefits and insights over the course of the project. Being able to communicate to executives clearly without getting “bogged down” in project delivery details is a must-do for every project.Project Update Template –Method© 2018 EXPERT TOOLKIT | ALL RIGHTS RESERVED | USAGE PERMITTED ASPER USER AGREEMENTPage 3How you use itProject Update TemplateStep 1, Concisely summarize the purpose, background, approach and objectives for the project. What’s the elevator pitch?Step 2. Which business unit or organizational area is leading or owning the project?Step 3. Who is the executive sponsor? Who is funding the project?Step 4. Which part of the business or process is being impacted, improved, changed? Step 5. List the key project phases, dates and milestones.Step 6. Briefly summarize the key project insights, findings, outcomes. What should executives know?Step 7. Outline the major outcomes, benefits and value that has been tangibly delivered as a result of the project. What metrics have been improved?Project Update Template –Template© 2018 EXPERT TOOLKIT | ALL RIGHTS RESERVED | USAGE PERMITTED ASPER USER AGREEMENTPage 4••Business Area / Process AreaKey Findings & Outcomes•Project Description, Approach and Objectives•Value Delivered & Savings / Benefits Identified•Sponsor•Delivery Phases & Dates•Business UnitProject Update Template© 2018 EXPERT TOOLKIT | ALL RIGHTS RESERVED | USAGE PERMITTED ASPER USER AGREEMENTPage 5Project Update TemplateAn editable version of this template is included in the Business Transformation Toolkit.Disclaimer© 2018 EXPERT TOOLKIT | ALL RIGHTS RESERVED | USAGE PERMITTED ASPER USER AGREEMENT•Descriptions and other related information in this document are provided only to illustrate the methods covered. You are fully responsible for the use of these methods where you see appropriate. Expert Toolkit assumes no responsibility for any losses incurred by you or third parties arising from the use of these methods or information.•Expert Toolkit has used reasonable care in preparing the information included in this document, but Expert Toolkit does not warrant that such information is error free. Expert Toolkit assumes no liability whatsoever for any damages incurred by you resulting from errors in or omissions from the information included herein.•Expert Toolkit does not assume any liability for infringement of patents, copyrights, or other intellectual property rights of third parties by or arising from the use of Expert Toolkit information described in this document. No license, express, implied or otherwise, is granted hereby under any patents, copyrights or other intellectual property rights of Expert Toolkit or others.•This document may not be reproduced or duplicated in any form, in whole or in part, without prior written consent of Expert Toolkit.•The document contains statements that are general in nature and do not constitute recommendations to the reader as to the content’s suitability, applicability or appropriateness. Page 6Project Update TemplateThe EndWe hope this Expert Toolkit product helps you to make a greater business impact.For feedback, questions or suggestions please get in touch at www.experttoolkit.comNext >