Project manager has to create a weekly status report as one of the artifact. It’s a simple one-page report that adds a real value by providing an overview of milestones, risks, issues and budgetary information at a minimum. Here are some guide lines that I have summarized [1].

• Avoid too much static information about the background of the project.
• Include the name of the sponsor and the project manager.
• Limit the information to one page with an overview of the major milestones, successes and achievements from last period.
• Write the important risks and issues, including owner and mitigating action.
• Share budget information and how you are tracking to it.
• Make it clear what action you want people to take; is this report just for information or do you require a decision from anyone?
• Prevent sending the report via email without writing the its context in the body of the mail. Executives may never read the report, so provide a summary in the email itself.
• Don’t send out bad news in a project report without speaking to people first. You don’t want your sponsor to read about a major issue without being there to explain the situation.

Reference:

1. https://www.smartsheet.com/creating-an-effective-project-status-report-with-templates