I tend to use mindmanager as it links into outlook. I can then create tasks linked to the mind map and send status reports using the outlook add in.
My boss tends to send me a task (which is actually a project)- that i send status updates on. I have to train him to send them to me as well- but outlook does allow you to send status updates- especially if you use an exchange server.
We also use sharepoint as an area to share a project reference and support material in.
Let me know if you find a nicer way..