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Whatever type of project you’re managing, one thing’s for sure: for it to be a success, you need to conduct project reporting.

Did you know, for example, that nearly 60% of projects fail due to communication breakdowns? Or that a staggering 75% of project managers lack confidence in project success?

Oil and gas project management is complex and intricate, with many moving parts needing to work together to deliver successful results – so it’s no wonder that project reporting is so integral to project success.

The truth is that whatever industry you are working in, though, whether it’s oil and gas, renewable/green energy, the nuclear sector, mining, or defence, without adequate project management reports, it’s hard to see whether a project will succeed and what issues may have occurred because the right insights aren’t getting through.

So, if you want to make sure your projects succeed, read on to discover how the best oil and gas project management software can help you to effectively report on project data, and find out why reporting is an essential part of the project process.

Why is project reporting so important anyway?

The fact of the matter is that reporting on projects is important, both for those working on the project and those overseeing it.

Why? Because reporting helps keep track of progress, enabling everyone to see how the project is going in line with the original project plan. With so many different elements to oversee – especially when it comes to oil and gas project management -regular reporting also enables teams to monitor what’s going on and spot any potential problems before they arise.

Not only that, but reporting also means costs can be kept in check against the budget for the project, and it can also help with the motivation of staff and teams too.

When it comes to project reporting, then, there’s no denying that the benefits are clear – but how can companies carry out reporting and make it an integral part of the project process?

3 proven ways to effectively report on project data

1. Project Status Report

A project status report is a type of report used to offer a general status report of how a project is performing overall. It can offer those involved in the project – as well as internal and external stakeholders – a vision of the project and whether or not it is on track.

The project status report also gives insight into whether project goals are likely to be met, and keeps track of the money spent so far, indicating the progress in line with the planned budget.

By thoroughly monitoring the project through project status reports, you can keep up to date with various important elements of work and ensure the process is as streamlined and efficient as possible.

 

2. Time-Tracking Reports

Another important type of reporting is time tracking reports, also known as timesheets, which allow users and stakeholders to keep track of spent on different stages of the project.

Time tracking reports are incredibly important for the overall success and monitoring of a project, as they can enable those leading the project to compare the actual time spent on each task or stage to what was initially estimated and budgeted for.

Not only that, but time tracking reports can also be integrated as part of a wider project report and can be used by project reporting tools to enable a complete set of data.

Finally, time tracking and time sheets are also essential for projects where freelancers or contractors are employed.

 

3. Invest in Commissioning Software

Finally, when looking into project reporting, it’s important to remember that the actual reporting is just as integral to the success of the project as the work and steps that are being implemented.

One way to ensure your project reporting is as efficient as possible is to invest in commissioning software such as Orbit.

Orbit commissioning software provides a total overview of projects giving them the best chance of success. With everything easily accessible, you can have everything in one place as the reporting becomes a part of the project process.

The benefits of investing in a system such as this speak for themselves. There’s no denying that oil and gas projects are some of the most complex in the world – however, Orbit enables you to elevate your projects, optimise your resources, and drive excellence in delivery.

With accurate forecasts and effective progress reports, as well as live and remote reporting, Orbit empowers you to transform the project management process, enabling you to overcome any complexities and achieve project success.

Learn more about Orbit project management software

If you’re searching for the best project management software out there to ensure your oil and gas projects are a success, look no further than Orbit.

As an industry-leading solution, Orbit is the perfect marriage of innovation, digitisation, interfacing, and project outcome delivery, and has been designed to streamline every aspect of the project management process.

What’s more, it also provides you with the real-time data you need to plan with confidence, make informed decisions, improve the bottom line, and deliver project success.

If you’d like to learn more about Orbit project management software and how it can help you to effectively report on project data and achieve project success, contact us today for a personalised demonstration of how Orbit can revolutionise your project management.