In my experience with design reviews during my undergrad capstone we had weekly meetings with an advisor and a customer to discuss progress made in the past week and any new concerns. The meetings themselves typically started out by going through a status report that as prepared before the meeting that addresses any milestones meet or missed in the week, progress on upcoming milestones, objectives for the next week, any issues ran into, and how we expected to progress in the future compared to our schedule of milestones. The meetings were a good way to stay on track of our schedule.