Projects are dynamic. The Project Status Report indicates the areas of a project that may vary as the project proceeds: integration, scope, time, cost, quality and risk. Decisions may then have to be made to adjust the other areas to compensate. If the schedule slips, then resources may be increased to bring the project back on schedule to meet a critical deadline. An increasing focus of attention in the report is risk management with review of project risks in each report. Changes in or new risks may explain the need for variation in the project.
The Project Status Report is a tool for reporting on progress of the project suitable for inclusion as a standing agenda item at steering committee meetings. The report has a visual aspect that is valuable for a quick examination of the status of the main project areas.
Queensland University of Technology (QUT) is a highly successful Australian university with an applied emphasis in courses and research. Based in the city of Brisbane with a global outlook, it has 40,000 students, including 6000 from overseas, (QUT Statistics) and an annual budget of more than AU$500 million. Courses are in high demand and its graduate employment rate is well above the national average for Australian universities.