Mastering Project Budgeting: A Comprehensive Guide
10 min read
Do you really need a project management tool, or is Excel enough? Get all the benefits and disadvantages of using Excel as a professional project management system.
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5 min read
Do you really need a project management tool, or is Excel enough? Get all the benefits and disadvantages of using Excel as a professional project management system.
Project management, project scheduling, project planning … The process goes by many names, but it’s all the same thing: safely and securely bringing a project to port, preferably within an agreed-upon scope, deadline, and budget, and keeping both the customer and financial department happy.
Today, many tools offer professional project management: PPM, PRINCE2, SCRUM and the waterfall model, to name a few. Whatever you choose, you will always need to manage company workflows and deliveries efficiently. On the other hand, the type of system you choose can make a world of difference. Enter the controversial solution: Excel as a project management tool.
Many companies have always used and therefore prefer Excel. Excel has some clear advantages, especially for minor projects or single events:
Excel has a wide array of benefits, notably in analysis and reporting features. Consultancy firms in particular need precise and detailed data, e.g. in connection with varying hourly rates management of fixed prices and time and material. Often, several projects run simultaneously for many different customers.
In these connections, Excel’s shortcomings, particularly in quickly illustrating key figures for generating project- or employee-based invoicing percentages, tend to come to the fore. This is especially true for cases where the same employee has different hourly rates depending on the type of project! As such, Excel is perfect for tasks such as analyses but falls short when it comes to proper project management. The main reasons are:
There are many arguments for sticking with Excel. Then again, there are just as many arguments against sticking with it. At TimeLog, we’ve spoken with many companies who value Excel as a project management tool. Often, these companies decline to make the switch for the following reasons:
Whether you choose to continue using Excel or opt for a professional project management system such as TimeLog, considering where most of your project management resources are placed may prove time well spent.
What are the pros and cons? How many half hours can you afford to lose due to imprecise time registration, provided it even meets the invoicing deadline? Imagine being able to analyse data and consequently your company using the same tool you use for time registration and project management instead of having to maintain data in Excel with all the uncertainties that go with it.
How many invoiceable hours can you afford to ignore?
10 min read
Do you really need a project management tool, or is Excel enough? Get all the benefits and disadvantages of using Excel as a professional project management system.
6 min read
Do you really need a project management tool, or is Excel enough? Get all the benefits and disadvantages of using Excel as a professional project management system.
5 min read
Do you really need a project management tool, or is Excel enough? Get all the benefits and disadvantages of using Excel as a professional project management system.
9 min read
Do you really need a project management tool, or is Excel enough? Get all the benefits and disadvantages of using Excel as a professional project management system.
6 min read
Do you really need a project management tool, or is Excel enough? Get all the benefits and disadvantages of using Excel as a professional project management system.
12 min read
Do you really need a project management tool, or is Excel enough? Get all the benefits and disadvantages of using Excel as a professional project management system.
6 min read
Do you really need a project management tool, or is Excel enough? Get all the benefits and disadvantages of using Excel as a professional project management system.
13 min read
Do you really need a project management tool, or is Excel enough? Get all the benefits and disadvantages of using Excel as a professional project management system.
3 min read
Do you really need a project management tool, or is Excel enough? Get all the benefits and disadvantages of using Excel as a professional project management system.