How to handle an employee who is always missing deadlines, doesn't follow up, update or reach out to the manager or others to complete the project.
You do not indicate any interventions already attempted and if those interventions failed. Sit employee down and set firm expectations on a firm timeline, known as a performance improvement plan. If employee fails to meet those expectations in that timeline, replace employee with another.
Since this is a project, you do not need to invest a ton of time trying to get an employee to perform as expected. In some cases, no performance plan is needed, except if required by your organization. Simply replace and move on.