Question
The Project Plan spreadsheet is a powerful tool for managing project timelines and defining risks. It allows you to triage tasks, define risks, and manage timelines with kanban or agile visualizations. It helps in defining the scope of a project with a project charter and listing important team members. The spreadsheet also provides real-time updates on financial data for all tasks, which aids in budget management. It calculates the used percent by dividing the actual cost by the planned budget, providing insights into the project's financial performance. Moreover, it forecasts the overall project cost based on the work progress percentage, helping in future financial planning.
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This is calculated by subtracting the actual cost from the planned budget. And if it is negative, that means you've gone over budget. The used percent is calculated automatically by dividing the actual cost by the planned budget. And the linear forecasted cost divides the actual cost by the work progress percentage to determine what the overall project will likely cost. The financial data for all tasks are summed to define the overall budget. These fields are meant to be updated in real-time. For every $1 billion invested in the United States, $122 million was wasted due to a lack of project performance.
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