Project Management Insights

How long does it take you to prepare your weekly or monthly Project Reports?  I'm guessing quite a while if you follow the standard reporting procedures which is to provide lots of detail. How much of what you produce is ever fully read?  I'm guessing not a lot. Why then don't you use the 'Exception Reporting Method.'  You develop a one-page report that just highlights things that aren't working or you need a decision about.