Benefits of MS Excel in Project Management

The topic which is going to be discuss is about Benefits of MS Excel in Project Management. Often managing the multi task projects becomes very hard due to different tasks at the same time. To know what is the most important task and setting your priorities it is important that you must work on it. Excel provides some useful functions which allow project managers to manage their goals in an organized way by just learning some basics of excel.

Lets Discuss Benefits of MS Excel One By One:

Basic Information

First of all you need to collect the data of the project and enter it in MS Excel. Remember that you have to type the data for entering in the Excel.  This will allow you to use the data any time for any purpose. This data can be names of the customers, their orders, due dates etc. If you have more than one projects of each client than you can add more sheets in excel by just clicking the “sheet” at bottom. You can give names to the sheets by just right clicking it. Keep in mind that you should make different columns for everything because this will help you while sorting and using the data for other purposes.

Tracking of Projects and Dates

Once you put the data in excel such as starting dates and completing dates of the projects than it becomes easier to track the progress on different projects.  Excel provides you the facility of sort the data in different ways so that you will be able to know the actual progress on different phases of the project. You can also organize and generate reports by using excel for your project management. Follow ups also can be made if all the data including dates are present in the excel spreadsheet.

Sharing the Sheets

By putting the spreadsheets on sharing you can get a better idea of your work.  Sharing with others will increase the productivity of whole team. Everybody will be able to know that where the project is standing at the moment. Another aspect of sharing your sheets with your team is in that way everybody can focus on project goals. In this way you can also avoid communication through emails and calls to exchange ideas. Instead of that whole team members can just open the project and see the shared sheets whenever needed.

Managing Cost of the Project

While using Excel for your project you can easily manage the cost of the projects. You will be able to know that how much amount received from the clients and how much expense made. When you know the actual position of your payables and receivables you can manage your budget in a better way. You just have to keep the record up to date in excel sheets.

Project management via MS Excel is very popular these days because the liberty which is available in excess is really attractive for project managers. Different options available in MS Excel Templates make the management of the project much easier for the project managers to use the data for any purpose. For example tracking and generating reports of the project management is really convenient in excel.