Abstract: An application updates a status of a project with a plurality of tasks, where each task has at least one deliverable. The project status is updated in real-time based on a deliverable status of at least one task deliverable. For each project task with at least one deliverable, a plurality of deliverable lifecycle states to be tracked are defined. Each tracked deliverable lifecycle state is mapped to a percentage completion of a project task. A weightage is assigned to each deliverable according to an importance of the deliverable. A changed lifecycle state is received for a deliverable, and the project task percentage completion status is automatically adjusted according to a product of the changed lifecycle state and the assigned weightage.