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The status report template is designed to provide an overview of a project's current status, highlighting progress since the last report. It is structured into four main sections: activities completed during the period, activities planned for the next period, the top five issues, and the top five risks. The template includes areas to input the project's status regarding scope, schedule, costs, and risks. Additionally, it allows for tracking overall status and comparisons with the previous reporting period. This report can be generated on a weekly or bi-weekly basis, enabling effective monitoring of project progress.