Fri, 25 Jun 2021

How MS Excel is helpful for project managers

7Newswire
28 May 2021, 00:42 GMT+10

In terms of management, governance, analysis, planning, and calculations, Excel is the tool that is utilized the most in all industries. Excel is undoubtedly the first tool in handy grid formats for project management. It can filter and formulate all types of data to make it easy to operate.

For some areas of project management, Excel can be more complex, particularly for beginners. The exclusive use of Excel as project management is discussed in detail in this article.

What is project management?

Project management can have varied definitions and meanings for many people, depending on the needs and tasks. In some instances, it refers to an organized method, and a formal discipline for managing projects across industries led by project managers. These legal projects shape different steps to achieve a uniform approach throughout the project's life cycle, including documentation, production, and validation.

Would you like to know how you may use Excel in your project plans? Then register for PMP training for the best professional training providers.

Excel's capabilities have not been built expressly for project management, such as software; yet, they will deal with several duties linked with mapping the project's scope, financial handling, and day-to-day management. Here are some specific techniques to plan projects for Excel templates.

  • Timeline
  • Excel can build a visual timetable and assist you in mapping a project plan and project phase. In particular, a Gantt chart can be created as a standard project management tool because it maps work on how long it lasts, when they are started and when the work is completed.

  • Budget
  • Excel thrives on crunching numbers and is therefore particularly suitable for calculating a project budget. It works well for small to intermediate projects because larger projects are more than capable of using the tools.

    It is pretty easy to create a budget if you wish to track a shortlist of spending against a revenue list. But Excel can also accomplish that if you want to go beyond it and build extra budgets.

  • Tasklist
  • Excel will assist you in building a task list or to-do list so that you may manage your activities daily or construct one every day to guarantee your team stayson track with your projects.

    It is done by listing each task, describing what has to be done, the resources needed, the responsible staff, and many more. If you are prepared to spend your time on the to-do list, you may make it dynamic and automated.

  • Project tracking
  • After the project has been initiated, Excel may be used as a project tracker, and you can manage all problems. Create columns for the project name, assignment, manager responsible, length, progress, and budget against actual.

    It illustrates how close you have to do, what the budget is, and whatever else you want to observe. You can then utilize the data to make charts to assist you in visualizing project status and progress so that you don't simply look at a number set

    MS Excel - Project management templates

    A valuable tool for any project - large or little, straightforward or complex - is the project management template. Even if deliverables are minor, the time each job takes, the resources needed, and the tasks to be assigned to the team members still have to be estimated. Therefore, the correct solution for project management is vital for ensuring that your next project is implemented on time and budget.

  • Gantt Chart template
  • You can see an overview of the tasks and their dependencies in the project timeline via a Gantt chart. It makes it an excellent template for the project planner.

    While a Gantt chart might be excessively complex in Excel diagrams, particularly when you need advanced scheduling functions such as task dependencies and resource allocation, these remain an essential element of every tool set of a project manager. To rapidly generate a Gantt chart on your job lists, you can use this free Excel template for a project planner. Just add tasks and time limits to this Excel table and see how long your project takes.

  • Project status report template
  • The necessity for a status report on the project is evident. You are managing blind when you don't have the proper understanding of what's happening in the project. You don't have any notion whether or not you are tracking resources.

    It is up to you to determine how often the reports are. However, much of your hectic work is done with a project status report template that can lead you from a project to provide you more access to the information you require.

  • Work breakdown structure template
  • A project consists of deliverables, and tasks are developed for these deliverables. The WBS technique visualizes the project results, duties, and subtasks necessary to perform these work breakdowns.

  • Action plan template
  • A project is launched to complete the achievement of a target. However, to attain that aim, a plan is needed and then actions for successfully implementing that approach-briefly, a goal.

    Projects are pragmatic, and the action plan provides a framework for your ideas on the successful and effective implementation of the project plan. You can fill the gaps with a free action plan template to ensure that you have covered everything and start your project on the correct foot.

  • Project tracker & Task list template
  • Project tracking is vital to keeping it on schedule. It also implies keeping the work tabs on a task level. This Project tracker & task list template is a to-do task list that includes fields for the project's planned and actual life to find out what works and what needs more attention.

    Concluding words

    Project Managers working on minor to midsize projects can use Microsoft Excel to visualize, plan and track their projects. It may be a simple project management spreadsheet, an excel project tracker, or something even more complicated like an Excel project management dashboard. For important client and executive communications, You can also convert excel data into PowerPoint slides. Though there may be some cons of excel in project management, it is overall beneficial.

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