Excel is a popular project management tool for small groups and organizations due to its ease of use, familiarity, and low cost. Furthermore, the availability of a wide range of Excel project management templates boosts employee productivity. Formalizing strategies and measuring performance are required for efficient project management. As a result, using Excel for project management is a viable option. This blog, we will discuss the Best Excel Use Cases and Templates for Project Management.
When is Excel the Best Choice?
A wide range of project management software is available, each with many features. However, you might only require some of those tools for your project management requirements.
This is because simpler projects may not necessitate advanced tools, and they may instead complicate the entire project-work process.
Some of the benefits of using Excel for project management include the following:
You Operate as a Solo Act:
As a solo entrepreneur, you do not require software packed with features designed for larger businesses. For example, suppose you have a startup that begins with a small scale and few employees. In this case, you don’t need fancy software but rather something simple.
You Want it Simple:
Even the most basic project management software has a learning curve you must overcome. However, with Excel, you can easily track and process all types of information.
You Want to Keep it Budget-friendly:
If Excel meets your needs, you will save much money by using previous specialized software because the cost is deducted directly from your budget.
When Is Excel Appropriate for Project Management(PM)?
Consider all the steps required to complete a project, such as time management, capacity planning, tasks and accomplishments, etc. Excel can help you achieve all of these tasks without going through a complicated learning process like other project management software.
You could also use Excel templates to manage the various aspects of a project. Microsoft Excel has always been great for organizing, analyzing, and calculating data. As a result, it is a popular platform for budgeting and managing large data sets.
Also, if your project has a small number of participants and does not require a complex system to keep track of them, Excel is the software to use. Also, if you dislike managing multiple projects and prefer to concentrate on one, Excel is an excellent choice.
If, on the other hand, you work for a company and want to broaden your Advanced Excel skill set, enrolling in Online Advanced Excel Training and learning advanced tools and tactics is the way to go.
Excel Project Management Use Cases
Even though Excel’s tools were not designed with programme management in mind, they can still be used to manage daily tasks, plan finances, and even trace the project plan. The following is a list of Excel’s project management use cases:
Using Excel, you can create a road map of the project’s schedule and phases and a graphic timeline chart. The Gantt chart is a well-known management method that plots functions based on the time it takes to complete them and the start and end times.
Excel is particularly well-suited for creating a detailed budget because it makes determining numbers easier. More extensive projects would exceed the application’s functionalities, which is helpful for mid-sized projects.
With the help of an Excel work plan or task list, you can create and manage daily activities using a project management dashboard Excel template free. You can also make it daily to keep everyone up to date on the project’s progress.
You can include entries such as task descriptions, resources needed, the employee assigned, and other details in the task list in a simple, automated, and dynamic manner.
This blog goes into greater detail about Best Excel Use Cases and Templates for Project Management. Join Excel VBA Training in Chennai, which provides the best certification training with placement assistance.
Read more: Excel Interview Questions and Answers