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Spreadsheet Modelling Best Practices (SMBP) Course
The objective of the course is to build spreadsheet models using best practice so that we solve the right problem, we get it right first time and the model is robust, easy to understand, flexible and maintainable.
The course focuses on usability, repeatability, scalability, communication and presentation of results. The labs are in Excel, but this is not an Excel course per-se.
We will work through these key stages in spreadsheet model development:
We will hardly even talk about the Build phase, as the other phases make this much simpler.
Course Sections
Finally we consider lessons learned.
Coffee Cart Case Study Exercise
At the end of the sections on the scope, specification and design/build phases, we will do a short exercise based on a fictional case study. The background is this. Mark is thinking of starting a coffee cart business. Your task is to build a spreadsheet model, using best practices, that will help Mark by estimating some key metrics. Full details are in the exercise instructions.
Resources
There is a discussion of Golden Rules for Spreadsheet Models
Quick links to case studies
What can go wrong with spreadsheets?
There are many examples of spreadsheet errors that have caused significant problems. Here are a few:
- The MoD exposed the identities of thousands of Afghans. Reported in the Guardian
- Bank of England Inflation Model goes wrong. Reported in the Financial Times
- COVID-19 Tests lost (2020). PHE loaded CSV data into old XLS version (65,000) rows max. No checks on row counts.
- Edinburgh hospital opening delay due to specifications in spreadsheet leading to wrong air flow in critical care rooms.
- Ireland National Treasury Management Agency confused € with $ and lost €7550K as a result.
The last three examples are from the European Spreadsheets Risks Interest Group Horror Stories