Mitigation

Spreadsheet rISKs&

1

Low

-ski

lled

Know

ledg

e W

orke

rs

people with low knowledge

spreadsheets witherrors & omissions

error toll

results in

which cause

R I S

K

PROPER & FORMAL TRAINING

M I

T I G

A T

I O N

Proper Formal Trainingsin regular intervalshelps to avoid mistakes

spreadsheet trainings normally offers high returns on training investment

2

Poor

Sta

nd

ard

sR I S

K

POLICIES & PROCEDURES

Spreadsheets contains both data & logic

A proper caution to be taken while creating them

Policies & procedures should be in place

To mitigate the spreadsheet risks

M I

T I G

A T

I O N

3

Data Entry & Reuse

R I S

K

Reuse data which is already available with your ERP or CRM using queries

M I

T I G

A T

I O N

Make data entry separate from logic so it can be re-used

4

Loss of Data R I S

K

Back-up on a regular interval

Save data to network drives instead of local drives

Now a days you can save data to Web Drives too

M I

T I G

A T

I O N

5

Spreadsheet Errors

R I S

K

M I

T I G

A T

I O N

Spreadsheet Audits

Follow “System Development Life Cycle”

Follow spreadsheet testing standards

Password protect sheets to prevent un-intentional changes

Further Readings:http://www.expertbase.org/769-5

Citations:http://www.flickr.com/photos/theplanetdotcom/4878805271/sizes/l/10 Hidden Costs of Manual Reporting in Excel & What you can do about them, Apesofthttp://inventors.about.com/library/weekly/aa010199.htmhttp://en.wikipedia.org/wiki/Visicalchttp://office.microsoft.com/en-us/excel/microsoft-office-excel-2007-top-10-benefits-HA010164179.aspxhttp://panko.shidler.hawaii.edu/ssr/Mypapers/whatknow.htmhttp://arxiv.org/ftp/arxiv/papers/0805/0805.4224.pdfhttp://aisel.aisnet.org/cgi/viewcontent.cgi?article=3485&context=cais

For more functions, please visit:www.exceladvise.com