Based on your experience, what kind of information should be communicated to the project team, stakeholders, and sponsors. How often should it be communicated? Should you use fancy PMI formulas or just a Red/Yellow/Green status chart? Are there some metrics that may be more meaningful than others? Does the duration and complexity have an impact on what you report? How should you communicate exactly where you are in the project, and what the forecast is for the next reporting phase and overall? Please incorporate the concepts of schedule, cost, and budget into your responses.
If the work is skewed heavily towards the later part of the schedule, or the project is just getting started, the indes formulas ie SPI and CPI may not portray an accurate picture if not supported with additional information.