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In this tutorial, Devin Deen from projectmanager.com discusses the essential elements of project status reports. He emphasizes that these reports serve as a communication tool for external stakeholders to understand the project's progress and should not contain surprises such as budget overruns, schedule delays, resource shortages, or quality issues. Instead, project managers should first address any concerns with stakeholders individually, either face-to-face or via phone, before including the information in the status report. The key takeaway is to maintain transparency and avoid unexpected revelations in project status communications.