Performance reporting is an activity that is important in the communication management of the performance. Through performance reports collection of information and disseminating information on the project progress can be collected. It provides a view to the stakeholders about the resource utilization, progress in the future, and also status to the stakeholders. There are various information that is included in the performance report like the past performance analysis, changes that have been approved, various risks and issues, and also the variance analysis results (Brusca & Montesinos, 2016).
It has been generally seen that the reports of performance do not show the information that is related to the pending schedule and cost overruns. There are various reasons for not providing adequate notice for pending schedule and cost runs. The basic one is that it becomes hard to predict the changes from the risk that might occur in the schedules that are pending. Certain risks lead to cost overruns which cannot be shown before as that happens suddenly. Also, at times the complexity of the project is underestimated by the management due to which improper allocation of risk happens. This leads to a change in deadlines and also in the goals of the project that is formulated. Since it will lead to an increase in cost and also a change in schedule that is pending but that will not be shown in the performance of the project as it will depict the inefficiency of the management. Due to this performance reports do not consider or give notice for adequate pending schedules and cost overruns. Cost overruns and pending schedules slips occur often in the workspace especially in the construction industry (Prasad et al, 2019). At various times due to change in weather or policies the project is affected and the cost is increased. So, it is very much possible that it happens in any project.
Reporting accuracy can be improved by taking the following actions:
Brusca, I., & Montesinos, V. (2016). Implementing performance reporting in local government: A cross-countries comparison. Public Performance & Management Review, 39(3), 506-534.
Jakubus, J. L., Di Pasquo, S. L., Mikhail, J. N., Cain-Nielsen, A. H., Jenkins, P. C., & Hemmila, M. R. (2020). Pull back the curtain: External data validation is an essential element of quality improvement benchmark reporting. Journal of Trauma and Acute Care Surgery, 89(1), 199-207.
Prasad, K. V., Vasugi, V., Venkatesan, R., & Bhat, N. S. (2019). Critical causes of time overrun in Indian construction projects and mitigation measures. International Journal of Construction Education and Research, 15(3), 216-238.
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