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It just depends on the data that you want returned in the result columns. If its listed as an available option in ready reports then you can definitely use a ready report.
You can see a full listing of available data in the Ready Report Guide > NPD Project Model index, http://docs.oracle.com/cd/E37249_04/otn/docset.html
For example, Project Status is an available result column so if your report needed project title, brand and status then a ready report would work as well.