Sponsors read the first page and little else, so status reports that bury the decision on page three fail them. This template leads with an overall RAG status and findings, then the decisions needed, a workstream scorecard, milestones with gates, a budget variance table with a one-line cause per material line, and a risk register with owners.

The sample follows Quillon Engineering's controls upgrade at a water treatment works in February 2027: 52% complete, schedule amber after a two-week panel delay, a £2.3M budget with a £2.35M forecast and seven open risks. Replace the project details, write your RAG rules into the key, and keep only the risks you would discuss at steering group.