One of the most common and simple mechanisms to report on the performance and status of projects is by using RAG indicators.A RAG status template can help you to stay organized and let your team know the current state of a project. It is helpful for those who are working on large, complex projects that need to be completed in sections over time.
RAG is an acronym that stands for Red, Amber, and Green. Track the status of your project using a single indicator.
The template helps you in the following ways:
- It allows us to identify any issues early on and make adjustments before they grow into problems.
- This template is also helpful for assessing the risks associated with investments in these sectors to help determine if they are good opportunities or not.
Excel RAG project status template indicates-
- Red – Houston, we have a problem! There is a concerning situation that demands immediate attention
- Amber – It could have been better but let me do some project management and we’ll get back on track soon
- Green – So far, so good, nothing to worry about, we plan to deliver against what was agreed
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