A reverse timeline is useful because that's the bottom line of the project.
However, a reverse timeline is not as useful as a forward timeline for tracking a project. You can use a reverse timeline to set the target dates of major deliverables. Then, use a forward timeline for more details. The same forward timeline can be used to track the progress of the project.
If you have Microsoft Project, use it. If not, you can get free (open source) project management software. The one that I have used in the past is ``Planner'' (available for Linux). There are other ones for KDE and X11, in general.