One of the easiest ways to make sure that you keep up to date on the status of tasks, issues, and milestone completion is to use a collaborative project management software that produces reports. Many software programs are available for this purpose.
Even if you find a program that does not send reports automatically to your stakeholders, using project management software is a great boon to keeping stakeholders informed. Much software includes tasks that are allocated to resources. When a resource completes a task, it appears as such in the project manager's version of the software. If an issue comes up, it can be discussed in a forum or in a special issues-tracking area of the program.
By making your software work hard to collect project data, reporting the data is much easier (and thus, communicating this information with stakeholders is easier because you don't have to hunt down who has done what.)