The report should advise the audience (i.e. your funders) Is your project on time and on budget? If not, can the project timeline and budget be regained? If so, what strategies will you recommend to...

The report should advise the audience (i.e. your funders)

Is your project on time and on budget?

If not,

can the project timeline and budget be regained?

If so, what strategies will you recommend to ensure the project can regain its timelines and or budget?

If the project timeline and budget cannot be regained

What additional resources can you seek?

Can time-lines be altered? Are there any interim results, and do they support the continuation of the project? (Beware, the temptation will be to discuss this at length and at the expense of other important management needs).