Below four things are very important to be communicated to the important stakeholder by the project manager.
Each project has some risk. Each organization has their own way of how to manage the risk. Timely managing and communicating a risk is very important for the project success. Different stakeholder can help in managing risk and its impact on project. So if project manager communicate the risk in timely manner with relevant stakeholder, risk can be mitigated before it badly impact the project.
Project manager made many assumptions for various reasons at each phase of the project regard less of the size and complexity of the project. Assumption is inevitable to keep the project on track and avoid delays. Normally, as times goes and progress happen things become much clear. However there are always changes that assumption we had made become false accordingly project progress can be affected. As each and everything can not be made clear upfront at the beginning of the project, project manager has to made many assumptions knowingly or unknowingly. And therefore it is very important to communicate assumptions made to all the stakeholder regularly before it is too late!!!
Along with the risk, Project manager has to do put many assumption.
Project team is the first who knows what’s has gone wrong than anybody else. Hiding issues can never help and come with penalty as the times goes. Project manager should keep the stakeholder aware about the issues well in advance before it comes as big frustration and failure. If stakeholders are aware about the issues either they can take business decision based on that or can ask expert to resolve it.
As project take help from many stakeholders team can be depend on others to get the thing done. If dependencies are not resolved on time progress and deadline can be affected. It depends on the timely action for the dependant party. However project manager always make difference by proactively communicating dependencies on particular stakeholder.
RAID is nothing but the acronyms of the Risk, Assumption, Issues and Dependencies.
Effective communication by project manager ensures that this RAID are communicated with respective stakeholder on time.
Many tools can be used to communicate RAID log with client and other stakeholders by Project manager.
The most simplest tools is to use google sheet or excel sheet.
Templates for the RAID logs are easily available on internet and you can use anyone which best suite to your project requirement. I am using below mention template for most of my project. Normally, setup a separate meeting or call with client and do walk-through with all the open items. I also suggest to keep it minimal and remove all the closed items to make it easy and actionable by each stakeholders. I will also suggest to educate the project team regarding referring and updating a RAID logs on time. In each week, I spare fix times to review and communicate the RAID logs.
Version control and configuration is the very important aspect of managing documents of projects and RAID log is not an exception. Also with time your raid log become long and it is not practical to keep track of all the items in limited meeting time. The best way for this is to use google spreadsheet so that you can share it instantly with different people and track changes. It also make sure that you are always referring latest version of the RAID log.