4castplus Blog

4castplus Blog

20 20, 2018

Spreadsheets for Cost Management are a Lot of Work for Little Return

"Excel just wasn’t designed to do some of the heavy lifting that companies need to do in finance.” So says Paul Hammerman, a business applications analyst at Forrester Research Inc. Despite that generally accepted fact, spreadsheets continue to be widely used as the default tool of choice for managing the finances of construction projects large and small. Most individuals that find themselves in this situation however, would enthusiastically agree that the use of spreadsheets for this level of complexity requires a ridiculous amount of meaningless effort for very little return. Far too much effort is put into getting the data into the spreadsheet – and all the formulas straightened out – that little time is actually spent analyzing that data.

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