6. Mistakes to avoid

6.1 Don't neglect the initial phase

The creation of an Excel-based cost management tool will only be truly useful if you have first clearly identified the needs of your internal customers, and also the tools at your disposal. There's no point, for example, in starting out with an Earned Value management tool if you don't have the means to monitor the indicators over the course of the project.

Take the time to discuss your project with the people involved, and with those responsible for your company's information systems. You'll save time and increase customer satisfaction by understanding and integrating everyone's needs and constraints.