By . Inventory Spreadsheet. At Wednesday, May 12th 2021, 06:13:08 AM.
The spreadsheet was introduced back in the 1980s and evolved into a complex program, but with the right experience it can be an effective tool for estimating large or small projects. Standalone programs work fine for estimating large projects; however they cannot estimate all structural elements of the project, such as, concrete, reinforcement, form-work, excavation, and back-fill at one time. Because of this restriction, contractors are forced to develop spreadsheet calculators ensuring bids were covering all required disciplines in their bids to ensure correctness. Construction bids missing important materials or a labor calculation is the number one reason companies incur large loses on projects they would generally have slim profits designed into the bid.
Last night, a factory manager in Singapore stared at his Dell Latitude waiting for his master inventory to be updated by his supplier in Korea. Meantime in Seoul, emails are frantically exchanged among inventory clerks at three factories to produce a final document. Yesterday afternoon a CFO submitted financials for the Quarterly Board report. This morning his admin found out the most current HR data was on HRversion5.xls, not on HRversion4.xls that he used. The National Sales Manager finally received monthly forecast spreadsheets from six Regional Managers, who each collected spreadsheets from their respective sales teams. Even though it took two hours to painstakingly combine all the data, cut & paste errors produced an overage of more than $1 million in forecast revenue.
Spreadsheets are the king of project management support tools because they are the most convenient tool to use and the most frequently used tool. How do they compare to project management software? What are the benefits of each and when should you make the switch to project management software? While only you can make the determination as to when you should make the switch, this article will walk through the benefits of each and provide some guidelines. Depending on which research you rely on, the market for project management software is between $1.5 billion and $3.5 billion. That is for software that is specifically designed to support project management. Most organizations that have made significant efforts towards effective project management have recognized that it is very difficult to manage a greater number of projects and people, or a larger project, without the support of technology.