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What is a monthly project review meeting and what should it cover?

I've been tasked to set up a monthly project meeting. What is the purpose of such a meeting, who attends, and why is it held?
The monthly project review meeting is a powerful method of delivering project status to executive management and other stakeholders, refreshing with them the major bullets of the project vision, reaffirming their commitment to the vision (or identifying any emerging issues with the vision), and cross-pollinating with other projects and with supporting functional groups.

The key elements of an efficient monthly review process are the following:…

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