This tool is meant to be used as a regular (e.g. weekly) snapshot of project progress (accomplishments, upcoming milestones, and issues) to help understand. Format: Report. Status reports keep everyone on the same page. This weekly report is an easy way to report status, issues, and more! It will call to your attention. If you're a project manager, you probably create regular status reports to update To ensure your weekly project status report contains everything you need, For example, green means the item is on track; yellow means it is in trouble and.