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Very basically the 5 things that should be considered to be measured/monitored and reported on to senior management are: (1) Schedule (work completed or in progress); (2) Costs (actual incurred and committed vs budget); (3) Resources - manpower; (4) Risks with updated mitigation plans; (5) Quality to make sure the deliverables will be the correct standard for ultimate Customer approval. You should identify historic data on how you got to where you are at the moment in the project, and then provide an indication/estimate to completion. Don't forget to inform the other stakeholders and the team members of the appropriate progress and issues.

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