This Project Status Report is a formalized, ongoing report on project progress about the project plan. The Project Status Report aims to effectively and efficiently communicate project status to project stakeholders at regular intervals. One of the primary goals of the status report is to compare project progress to project plan estimates. Include a summary of the project's estimated completion date and costs. This enables project managers to control the project's execution and assess its success. Daily, weekly, monthly, and quarterly project status reports are available. They streamline the process of gathering and disseminating critical project information.