There are fundamental data points that should be monitored to ensure that all of your company or department projects come in on time, on budget, and with the proper objectives achieved. One great way to ensure this is by collecting data along the way using a 5/15 reporting system.
How a 5/15 Reporting System Works
Every two weeks, have each of the individuals that directly report to you take fifteen minutes to write up a one to two-page bullet-pointed document that covers the status of each project for which a person is responsible. Each project should have a green, yellow or red dot showing if it is on track, if something is going wrong, or if the project hasn’t started yet. The 5/15 reporting system allows you to make sure that you have visibility on all projects, which is, of course, preferable to finding out something has gone off-track when it’s too late.
The 5/15 report should take your team members no longer than fifteen minutes to write and five minutes for you to read.
Recommended bullet points for employees’ 5/15 reports:
- Employees’ goals for the upcoming week
- What they accomplished in the prior two weeks
- What’s working in their respective business area
- What could be improved in their business area
- How they’re feeling with the people in their group as a whole
Try this for two months and see how it goes, I assure you it will make a world of difference, and you’ll learn things about projects that otherwise may have gone undetected.
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