spreadsheet risks & mitigation
DESCRIPTION
This presentation is related to top 5 risks related to spreadsheets.TRANSCRIPT
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