A dashboard is a visual representation of the important data of some processes. Usually, the dashboard contains information that requires to be tracked daily.
The Project Portfolio Dashboard Excel Template is used in the project management field. It is generally formatted in MS Excel 2010!
Project Portfolio Management Dashboard
Almost all the functions of a business use dashboard to have an easy and quick understanding of the process of critical data. Businesses usually prefer to identify and display only important information to track, monitor, and control a process.
The use of the dashboard is very common in almost every business. Different dashboard formats are used for different businesses to showcase a different set of information.
However, the purpose of all the dashboards is to display the key information from several documents or spreadsheets.
Excel Dashboard is the combination of different management tools that include charts, trends analysis tools, performance measuring tools, project tracking tools, monitoring and evaluation tools, and other project management tools that are linked with assessing the performance of the implementation of a project.
Critical hindrance and uncertainties affecting the production cycle can be avoided if your managers are effective and efficient enough to give proper time to every stage of the project and pre-planning for the risk factors.
Particular times when your team requires appreciation can be recognized easily through multiple project tracking templates in excel.
Importance of Excel Portfolio Dashboard Template
Excel Dashboard 2010 has a lot of importance associated with them.
Dashboards are used everywhere from businesses to personal life. Let’s suppose a person can make a specific dashboard to monitor and analyze the health of a laptop or PC. It is the choice of the user to display a required set of information on the dashboard.
For example, If a person is worried about a computer virus, hard-drive space, hard-drive health, and availability of the internet subscribed data limit.
A customized dashboard can be made to show information about this parameter. Like how many times the anti-virus has detected any malicious file?
Because they use in a lot of fields of daily life. For instance, besides project management, the Dashboard templates are used in Hotel management, employee attendance record management, employee’s salaries record management, online project evaluation, employee performance evaluation, and in many other fields of a business and daily life.
Such a high number of usage assigns high importance to the Dashboards!
Among its very usages, the one for which Excel Dashboard is widely popular in project managers is its facilitation to provide Trends Analysis.
It accomplishes this aspect by using the project management software toolkit that is assigned to the Dashboard template. It predicts the ongoing trends and gives an accurate and up-to-date analysis of the existing trends regarding the field of a project.
For this analysis, first, the data is inserted in the Excel program of the Dashboard, and the program is run; it presents the results of the analysis after that.
Many corporate organizations are estimating the current trends through this dashboard template and are planning their product designs and other aspects of their business by deducing inferences from the analysis conducted from predicting the trends.
Moreover, the businesses are also forecasting trends for their future production capacities and market realities by using this trend analysis tool.
Hence, it is not only serving the project managers but is also playing an essential key role in the corporate business field.
Business Portfolio Dashboard Template Excel
The businesses also use the dashboard tool in different functions. Mos common dashboard used by the businesses is to monitor the sales, HR function, production planning, and website traffic of the business.
The sales dashboard presents all the required information such as the sales target of the fiscal year and achievement. It assists the sales team to get motivated and stay aware of the goal.
The HR team also controls the function of the recruitment process using a dashboard. HR team dashboard displays the information about the vacancies, several candidates applied, and candidates under the screening process.
Advantages of Business Dashboard Excel Templates
MS Excel Dashboard template has many advantages and facilities assigned to it. Some of them are mentioned below:
- This is very easy and simple to manage.
- It can run the data and report results easily and requires only a few simple steps
- Can also generate product-related reports
- Its also use in budgeting and financial reporting
- Revenue forecasting and business trends forecasting can be done by using it
- It does not require heavy space to get saved on your computer and does not make your files heavy.
It never asks for upgrading or complex steps for its installation and working!
If you do not know anything about the Excel Dashboard templates. Then you should go for the online available free templates of Excel Dashboard.
You will find them in MS Excel 2010. It will give you a detailed idea about the project management aspects that are related to the evaluation and performance assessment of a project.
Implementing Project Portfolio Management
It is important to understand each project management tool required a different methodology that helps to work it properly. Below there are few steps that you need to follow to implementing portfolio management:
Multiple Project Tracking Template Excel
Our templates are well designed and are in format design which can be adopted in all kinds and sizes of business and design can be in the following format:
- Budget for the project: whenever any project is worked upon, there is a specific amount of money specified for it and a major priority of management is to plan the project in a way that it will not exceed this budget amount, therefore, this sheet holds information for labor cost, material cost, and final balance. You can check through Office Timeline here.
- Timeline: strong planning is required to maintain a proper timeline during project operations and if multiple departments are involved meetings between supervisors are also common as a collaboration among results in the following timeline properly.
- Issues And Risks Faced: Separate sheet is prepared which consists of a list of issues, which can strike the project anytime and this sheet is more carefully created if a new type of project is being handled by the company. A new project means different types of problems and issues.
- Time table: PMP certified managers generally emphasized preparing time table not only for them, in fact for their project team as well, as it reduces the wastage of time and improves the passion of work among team members.
Excel Project Tracking Template Requirements
Some of the most successful companies have clearly shown the pattern followed in their companies especially; when multiple projects are being worked upon and each of them requires equal importance.
Once you have a tracking template. You can easily view the cost required and available for dealing with a specific project and the factors can be highlighted and shown to upper management which can increase the expense of the project.
The availability of these templates means any change can be made timely and others that can be affected by the decisions can also be made aware of the change online or through text messages!
Project Timeline Template
Every project needs a timeline to show its progress or status thus its excel template is needed to manage in a good manner. The basic purpose of the timeline tool is to provide a professional managing and controlling platform that keep you up to date with the latest project development and progress status.
Today there different sorts of resources are being used for this purpose in which some of them are automation and some are in excel template format.
Benefits of Timeline Template Excel
It keeps you up to date with your project progress
It clears the task’s deadline to your employees
It helps your employees to get instructions that you put against each task
It split your whole project into parts and that’s clear the steps of completion
Your working staff can coordinate with your and their team leaders on that timeline
You can manage minutes of the meeting sheet on which you and your working staff can submit their daily reports and share their experiences as well as can discuss problems and issues
Timeline template excel is useful for any kind of project because as we know that its basic purpose of the use is to provide you with better control over your project. One of the most important things is that you can manage your multiple projects through a single project portfolio dashboard.
Project Management Dashboard Template Excel Example
Similarly, the dashboards are used in projects and businesses. In project management, project managers also keep on changing the dashboard with the progress of the project.
Dashboard changing is linked with the requirement. As the requirement of the project changes. The project management dashboard also gets changed.
Normally, project managers work to identify the key performance indicators of each project process. So, these parameters are displayed on the dashboard when the relevant process is in action.
For example, project managers want to see the data about work completion, issues management, and cost management of the project during the execution stage.
So, a customized dashboard will be managed to display the information about how many activities of the project have been completed, what is currently in process, and which are coming next?
Similarly, the issue management section of the dashboard will show the information about the open issues of the project along with detailed information.
Such as the responsible person for the issue resolution and priority of resolution. Furthermore, the cost management section will include the information to track the expenses of the project along with budgeted amounts.
These dashboard templates are usually created with MS Excel spreadsheet tools. As most of the project management sheets are developed in excel to effectively manage, track, and control the different processes in detail.
Therefore, it is very convenient to just add a summary sheet as a dashboard and link the required sections with the other Excel sheets to display the required data automatically.
Control & Monitor Through Dashboard Excel Template
This project Dashboard tracking template excel spreadsheet is used in heavy project management activities for documentation of financial monthly or daily basis, every bank; and the corporate sector must use this for finalizing their expense and profit plan related to any project.
For more tracking templates of project management don’t forget to check ExcelTemple latest updated post.