The idea of expressing progress updates to your team seems a good idea at first, but I feel that they (your team) should probably be well-aware of where they stand without the PM telling them. Perhaps, this was meant for projects where the team members have a spoke-an-wheel role, with little communication between each other.

In a typical scenario, however, I feel this may be a little too much micromanagement unless it is absolutely needed for ensuring timely completion.

Overall, however, these are some very good thoughts. Especially the ideas on communication.

We understood that in order to complete projects in a timely manner, we’d need few tools to track our status and document while we progress.

Now using octabox, we’re able to track the status of every single task and project and communicate clearly around them.
Public beta will be available in few weeks, but you can meanwhile leave your email in the front page to get notified about the public beta.