Function vs Project Structure

I am a contractor with many projects and I am trying to determine if it is most beneficial to have the individual projects have their own sheet with various silos of activities (in-field construction activities, office deliverables, accounting processes, etc.) and run a report for each team member/silo of responsibility. I also created a report for our staff meeting that allows us to query high importance items but we cannot generate new actions items directly from this report.

or have the main sheets represent each silo of activity and run a report for the individual project.