Yes, the new Reports Module is very robust and allows you to do just about anything and report on any information. You can show Highlights or Graphs that show % of Projects and utilize the Expected Progress field to get a good idea of where the Projects 'should be'.
For further clarification, we suggest you register for one of our weekly Reports & Dashboards Training Webinars (see the link-> http://www.clarizen.com/resources/online-demo.html#second ).These are free training sessions hosted by Clarizen Experts and offered weekly.