A typical project dashboard includes a RAG status (Red, Amber [Yellow] or Green) either at the overall project level or for each key deliverable.
Green means the project is progressing as planned; Yellow serves as a warning for potential problems; and Red indicates actual problems. However, the RAG status does not show if the project will get better or worse by the next reporting period.
To address this issue, add a RAG indicator (steady, up or down). A Green “steady” indicates that the project is on track and you expect it to be on track in the foreseeable future. A Green with a “down” RAG indicator indicates that the project is trending towards problems. In contrast, a Yellow status with an “up” RAG indicator indicates that things are getting better and the project status may soon turn to Green.