Spreadsheets, a recipe for disaster?
I am amazed at how many companies are still managing projects using spreadsheets. The fact is, when managing multiple projects; with a range of different consultants; across different geographies; using spreadsheets is a recipe for disaster. They are instantly out of date, create administration headaches, and are often littered with errors and inaccuracies; in the complex world of project portfolio management (PPM), this is simply unacceptable.
Successful PPM requires total visibility and control, with real-time intelligence on costs and resources. Lack of control leads to inefficiency, rising costs, and damaged customer relationships; yet many companies are still failing to manage their costs and resources effectively. Automation allows companies to track financial project health and manage resources in real time; ensuring the right skills and assets are deployed, on the right projects, at the right time.
Using an automated PPM solution, companies gain better control by having a more cohesive, consolidated view. As such, they are more able to anticipate and plan for any issues that may impact the wider portfolio, keeping pace with changing requirements and shifting internal expectations. Organisations can analyse, track and forecast opportunity and risk to better manage the profitability and performance of the business; this creates a repeatable recipe for success, while eliminating redundancy and waste.
Whatever solution you chose to use, my advice is to throw away the spreadsheets the future health of your project could depend on it.