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A monthly status report (MSR) is a common way for leaders to keep tabs on the work of their direct reports. A monthly status report provides a similar update on a project or projects but over a period of a month.Some projects benefit from weekly reporting, while others only need to be updated once a month. A monthly report template is handy when you need to create a high quality report. Learn how you can create a comprehensive monthly status report through these easy-to-do guidelines and examples. Monthly reports help businesses closely monitor their performance and progress. It is a synopsis of the month's activities, and highlights changes to the project. Learn how to create an effective monthly report . We've included editable templates and tips to help you create monthly reports quickly. This sample monthly status report is provided for your convenience.