Understanding the Exception Report in Project Management
Summary
An exception report doesn’t necessarily have to capture an issue that will derail your project—these problems can be big or small and have a major or minor impact on the project or business. In fact, sometimes exception reports simply unveil performance issues, irregularities in accounting and finance or inventory control problems. The use of an exception report is how projects and businesses are able to quickly identify and address issues in their processes before they become too big that they cause damage. The exception report helps management learn that something is wrong with the project or business and it must be delivered accurately and timely to quickly address the issue. This might mean accounts with unapproved spending, which will impact your ability to forecast cash flow and expose issues with your internal controls.
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