If everything is going well, it's five minutes spent.
If anything -isn't-, it's five minutes spent highlighting where additional interaction needs to take place.
Even if everything is going well, a status update can be "I'm working on X, no blockers", and someone else can still say "Oh! I've done X! Let me know if you need help", setting the team up for avoiding future obstacles.
Without it, you'll have people hammering at the same problem for days without raising it up because they don't realize anyone else can help them. Or reinventing the wheel because they don't realize someone else has already done it.
Etc. Done right, it's an excellent way to spend 5 minutes. Done wrong, it's a waste of an hour.
If everything is going well, it's five minutes spent.
If anything -isn't-, it's five minutes spent highlighting where additional interaction needs to take place.
Even if everything is going well, a status update can be "I'm working on X, no blockers", and someone else can still say "Oh! I've done X! Let me know if you need help", setting the team up for avoiding future obstacles.
Without it, you'll have people hammering at the same problem for days without raising it up because they don't realize anyone else can help them. Or reinventing the wheel because they don't realize someone else has already done it.
Etc. Done right, it's an excellent way to spend 5 minutes. Done wrong, it's a waste of an hour.