Leaders should expect monthly project updates and assign active projects with a color:
Green – making progress
Yellow – progress slowing, in danger
Red – Project stalled, needs help.
Nomenclature for tracking improvement projects:
Proposed – Ideas that align with the business strategy and have reasonable Effort X Impact opportunity. The short-listed ideas have been assigned a title and a brief description.
Active – Project teams which have started meeting should have a signed project charter (sometimes referred to as a project contract).
Control – improvements have been fully implemented. The project is in the 12-month financial look back period.
Complete – Project was completed successfully. A 12-month look back has been completed or closed with no financial benefit expected.
Canceled – Formally an active project that was postponed or concealed.