A project tracking template excel is useful in all the phases of project management. So, there are four major stages of project management. Project definition, planning, implementation, and closure.
Thus, all project phases include several processes that are vital for project success.
In this article, the basics of the project tracking template for excel will be discussed. Also, the importance of tracking, the process of tracking, and examples of project tracking template google sheets will be presented.
Related Article: 45+ Free Project Management Spreadsheet Templates for Excel (2020)
Project Tracking Template Excel
The project managers’ all efforts are into the proper tracking, monitoring, and controlling of these processes and functions.
As there are several reasons for tracking a project process during the execution phase.
However, the main purpose is to keep it on the track of the project plan. So, the success rate gets manifold when everything happens as per plan.
Thus, the project manager’s key focus during the project execution phase is to track and monitor the realization of planned values.
A comparison of real-time data with the planned data is the basic function of the best project tracking template in excel.
Therefore, the project plan is useful to create most of the project tracking spreadsheet templates.
So, the project managers use a free project tracking template for tracking different functions such as project schedule, tasks, timeline, and resources.
Also, to compare the actual output and progress of these project management KPIs with the planned values to analyze a lot of factors.
Related Article: Recruitment Tracker Excel Template
Now, the question that comes in mind that when the project has a properly developed project plan and all actions are taking place according to plan. Then, why there is a need to track everything?
So, it is important to understand that whatever efforts being put on the project plan. A project can never be 100% the same as seen in the books.
Thus, the actual progress and output of the project will always somehow different from the planned one due to many external factors.
These factors keep on impacting the project quality, timeline, performance, and resources over the project lifecycle.
Therefore, the best approach to stick on the project plan and ensure the project’s success is to keep on tracking it.
So, the project managers use several tracking templates such as project time tracking template, project hours tracking template, project task tracking template, and multiple project tracking template.
These templates have set formulas thus helpful for project managers to effectively track the project processes.
Related Article: Free Issue Tracking Spreadsheet Template Excel | Project Issue Trackers
Significance of Project Tracking Template Excel
Project tracking is a comparative process helpful in comparing the project’s actual progress and output with the planned values.
As many times a project starts lagging behind the schedule and project managers don’t get alert unless it too late.
Similarly, the project resources are depleting too fast than the planned estimation. So, the project will suffer a lack of resources that will impact its timeline and performance.
So, if project managers will keep on monitoring the project costs and expenses using the project cost tracking template.
The indication of a high depletion rate will alert the managers at an early stage.
So, the actions can be taken to deal with this issue on a priority basis. Thus, this function of project tracking templates helps in controlling the project processes along with tracking and monitoring.
However, it is not enough to just figure out the issue by tracking of some function. But the earliest resolution is also important.
Therefore, project issue tracking template excel XLS is useful to streamline and track the project issues resolution process.
Further, the project management professionals are looking after more than one project at a time.
Then, it is important to use a tool like multiple project tracking template google sheets for effective monitoring, tracking, and controlling of each project.
Related Article: Best Free Multiple Project Tracking Template Excel
Process of Project Tracking
The free project tracking template for excel can be used in several ways to track a project.
However, there is a need for a professional strategy to ensure the effectiveness of the best tracking template.
Thus, the professionals recommend the following guideline to follow for efficient tracking:
- Determine the Project Work Done
- Determine the Resources Spent
- Conduct an Earned Value Analysis
- Track the Set Project Milestones
The first step in this process focuses on figuring out the percentage of work completed. So, the project managers should analyze the project schedule and Gantt chart to analyze the activities on WBS.
Further, figure out what activities are in progress and adds their completion value in work done calculation.
Similarly, it is very important to include the depletion of all the resources in the resource spent step.
Nothing should get missed for accurate analysis. So, make sure to include time, budget, material, and human resources as well.
Once both the work is done and depletion of resources to perform that work is in hand. Use the earned value analysis tools to analyze the project progress.
So, this analysis will help the project managers to figure a lot about project progress and performance.
Any variation in the values of earned value analysis and planned values will question the efficiency and effectiveness of the project plan.
Thus, project managers can take timely steps to figure out the issue and improve the project plan.
Finally, how well the project is progressing toward completion is monitored using milestone achievement.
Therefore, project managers keep on tracking the milestones data to monitor and track the project progress.
Related Article: 30+ Free Project Management Template Excel Spreadsheets (2020)
Examples of Project Tracking Templates
Although, there is a tracking spreadsheet for almost every process of a project.
Because monitoring and tracking function is required to ensure the timely and accurate completion of every activity.
However, most of the project tracking template in Excel are used in the project execution phase.
Thus, the must-have project tracking templates for project managers include:
- Project Dashboard Template
- Agile Project Tracking Template Excel
- Project Schedule Tracking Template
- Milestone Tracking Spreadsheet
- Issue Tracking Excel Template
- Project Cost Tracking Template Google Sheet
- Project Budget Tracking Spreadsheet
- Activity Tracker Template
- Multiple Project Tracking Template Excel
- Project Management KPIs Template
- Resource Tracking Template Excel
- Task Management Tracking Template
Finally, it was all about the “12+ Free Project Tracking Templates for Excel”. Please do share your feedback in the comments section and SUBSCRIBE us to learn more about Project Management.
Graphic Resources Credit: Designed by Freepik