User:Ruthvik1994/sandbox

Status report plays a major role in any project management. Any project leads or manager always needs a report that details the progress of the task. These status reports can be in many forms such as textual format, numerical or statistical, trends or graphical content explaining the current status of the project with respect to the scheduled agenda. RYG (Red-Yellow-Green) analysis (also known as Red-Amber-Green or Traffic light rating system) is one of those simple graphical formats that can be easily adopted in every field where there is a need to evaluate performance.

Background
RYG analysis and its status reporting can be termed as one of the universal ways of determining a project status. However, it is important that the criterion is clearly stated and defined for the analysis. Other project status analysis methods are also used. For example, the weather report analysis is used in order to include a detailed analysis and status. RYG analysis and 'traffic light status' as it is called is not only used in the project management scenario but also in everyday life scenarios like a hospital or a financial institute.

Interpretation
The symbols or colors (red, yellow, green) are interpreted in many ways and is left to project manager to define them in any field to the team before the start of the project. Intuitively they all define them as
 * Red → Critical Position
 * Yellow → Vulnerable
 * Green → On track

Usage and Examples
RYG status report can be served as a quick review of progress in project management and risk analysis. Defining colors for various outcomes is not new and is already in use everywhere. RYG status report just tries to make it standard.

Example 1
At Yale New Haven Hospital, a physician developed a RYG discharge tool to identify likelihood of a patient to get discharged next day. This tool helps as a metric to nurses and other administrators to take immediate steps to complete treatment and discharge people tagged with Yellow (possibly ready to get discharged) and Green (very likely) so that the hospital can accommodate more patients.

Example 2
 Standish CHAOS Reports have been published every year since 1994 by Standish Group which gives a summary of the state of the software development industry. Every year they study nearly 50,000 projects around the world and report the surveys conducted on those. These reports follow RYG appearance. Checkout the 2015 CHAOS Report here.

Advantages

 * Wherever deadlines are critical and come in focus, using the RYG analysis or what people call as an "application of color psychology" is useful since one glimpse at the "RED" color directs our instinct to "Critical". Similarly, a glimpse at "GREEN" will be a sense of relief.
 * RYG analysis is easy to grasp as compared to numbers.
 * Use of RYG analysis and displaying them can lead to prompt actions in a critical state - defining Red/Yellow/Green Medicine Status.
 * A steering committee intervention is necessary at times. This can be indicated by an RYG analysis posted with comments.

Disadvantages

 * For projects which need to indicate status and prompt people to action, use of RYG analysis works well. However, they have a static nature of assessment and a limit of 3 levels to determine the project state.


 * Sometimes the RYG analysis fails to provide the exact trustworthy information. Also, the source of the RYG analysis report needs to be trusted.


 * Wrong projections can be put up - when something with a red status is projected as the one closer to the yellow status i.e. manipulated or in other words, not being completely truthful about your project status since no actual numbers and figures are involved.