Bock (2016)Spreadsheet development must embrace extensive testing in order to be taken seriously as a profession.
Ross (1996)A lot of decisions are being made on the basis of some bad numbers.
Panko (2008)94% of the 88 spreadsheets audited in 7 studies have contained errors.
Teo & Tan (1999)Most executives do not really check or verify the accuracy or validity of [their] spreadsheets...
Dunn (2010)Spreadsheets are extraordinarily and unacceptably prone to error.
Mireault & Gresham (2015)Spreadsheets are often hard, if not impossible, to understand.
Abreu, et al (2015)Spreadsheets can be viewed as a highly flexible programming environment for end users.
Miller (2005)Untested spreadsheets are riddled with errors.
Krishna, et al (2001)Programmers exhibit unwarranted confidence in the correctness of their spreadsheets.
Irons (2003)Spreadsheet errors are pervasive, stubborn, ubiquitous and complex.
Durusau & Hunting (2015)Spreadsheets are dangerous to their authors and others.
Chadwick (2002)Spreadsheet errors... a great, often unrecognised, risk to corporate decision making & financial integrity.
Panko (2014)Despite overwhelming and unanimous evidence... companies have continued to ignore spreadsheet error risks.
Raffensperger (2001)Never assume a spreadsheet is right, even your own.
Abraham & Erwig (2007)Spreadsheet errors have resulted in huge financial losses.
Paine (2001)Spreadsheets are alarmingly error-prone to write.
Murphy (2007)60% of large companies feel 'Spreadsheet Hell' describes their reliance on spreadsheets.
Panko (2007)The issue is not whether there is an error but how many errors there are and how serious they are.
Panko & Halverson (1996)Every study that has looked for errors has found them... in considerable abundance.
Nixon & O'Hara (2010)Spreadsheet errors are still the rule rather than the exception.
Burnett & Myers (2014)The software that end users are creating... is riddled with errors.
Beaman, et al (2005)Errors in spreadsheets... result in incorrect decisions being made and significant losses incurred.
Panko & Ordway (2005)Most large spreadsheets have dozens or even hundreds of errors.
Powell, Baker, & Lawson (2009)1% of all formulas in operational spreadsheets are in error.
Kruck & Sheetz (2001)...few incidents of spreadsheet errors are made public and these are usually not revealed by choice.
Caulkins, Morrison, & Weidemann (2006)Your spreadsheets may be disasters in the making.
Panko (1999)Every study, without exception, has found error rates much higher than organizations would wish to tolerate.
Hermans & van der Storm (2015)Spreadsheets are the most popular live programming environments, but they are also notoriously fault-prone.
Howard (2005)Spreadsheets... pose a greater threat to your business than almost anything you can imagine.
Abraham, et al (2005)Spreadsheets contain errors at an alarmingly high rate.
Price (2006)The untested spreadsheet is as dangerous and untrustworthy as an untested program.
Sakal, et al (2015)Overconfidence is one of the most substantial causes of spreadsheet errors.
Chen & Chan (2000)Spreadsheets are easy to use and very hard to check.
Kulesz & Ostberg (2013)Spreadsheets are more fault-prone than other software.
Ayalew (2007)A significant proportion of spreadsheets have severe quality problems.
Nixon & O'Hara (2010)It is now widely accepted that errors in spreadsheets are both common and potentially dangerous.
Sajaniemi (1998)The results given by spreadsheets are often just wrong.
Caulkins, Morrison, & Weidemann (2008)Spreadsheets are commonly used and commonly flawed.
Abreu, et al (2015)Despite being staggeringly error prone, spreadsheets are a highly flexible programming environment.
Panko (2013)It is irrational to expect large error-free spreadsheets.
Colbenz (2005)Errors in spreadsheets are as ubiquitous as spreadsheets themselves.
Cunha, et al (2011)Spreadsheets are notoriously error-prone.
Mireault (2015)Developing an error-free spreadsheet has been a problem since the beginning of end-user computing.
Rust, et al (2006)Spreadsheets have a notoriously high number of faults.
Caulkins, Morrison, & Weidemann (2006)People tend to believe their spreadsheets are more accurate than they really are.
Bishop & McDaid (2007)The quality and reliability of spreadsheets is known to be poor.
Panko (2015)Research on spreadsheet errors is substantial, compelling, and unanimous.
Csernoch & Biro (2013)Studies have shown that there is a high incidence of errors in spreadsheets.
Galletta, et al (1993)Even obvious, elementary errors in very simple, clearly documented spreadsheets are... difficult to find.
Reschenhofer & Matthes (2015)Spreadsheet shortcomings can significantly hamper an organization's business operation.
This is an occasional blog about spreadsheet best practice, spreadsheet errors, and testing of spreadsheets.
Check out our "Spreadsheet good practice guidelines" booklet on Amazon.
Good spreadsheets are essential for informing decision making. But most spreadsheets are not good. The objective of this booklet is to help you make better spreadsheets, so you can make better decisions.
The spreadsheet good practice guidelines consist of five one-page modules, each of which summarises a key aspect of making better spreadsheets:
These guidelines are distilled from many years of practical experience in designing, building, and testing spreadsheets, supported by an extensive review of the relevant academic literature.
The booklet contains about 3,000 words on 10 pages. Buy now
Read more: Spreadsheet good practice guidelines
Spreadsheets are riddled with errors. To reduce the risks our practices must improve.
The objectives of this presentation are to:
We provide guidance based on:
Read more: Making better spreadsheets
An important aspect of a spreadsheet's fitness-for-purpose is ensuring that its run time is acceptable to the users. Creating an inefficient spreadsheet is easy, while creating an efficient spreadsheet requires a bit more thought and the application of some techniques to reduce run time.
This article presents an example of using refactoring techniques to vastly improve the run time of a spreadsheet. We focus on an especially slow feature of Excel: the interaction between VBA and the worksheets.
Read more: Improving spreadsheet run time
People are remarkably accurate when doing a wide range of activities, including working with spreadsheets. Even so, the bottom line result of every spreadsheet is almost certainly wrong.
For example, if you have a spreadsheet consisting of 100 used cells and a moderate 3% probability that each cell contains an error, then the probability that the spreadsheet's results are wrong is 95%.
This article explores how and why the cascading structure of spreadsheets leads to a high error rate, and then we consider what we can do about it.
FizzBuzz is a simple word game that is sometimes used as a test for programmers. Here we use FizzBuzz to illustrate the importance of documenting your spreadsheet.
Summary of key points:
Incorrect use of Excel's
NPV function is a common source of spreadsheet errors. This article discusses several pitfalls and suggests ways to avoid them.
Summary of key points:
NPVfunction is a common source of spreadsheet errors.
NPVfunction, errors that commonly occur include: referencing the wrong cells, constant jamming, inadequate documentation, inconsistent assumptions about cash flows being real/nominal and before/after tax, misinterpretation of an ambiguous model specification, and incorrect cash flow timing.
Read more: Pitfalls of Excel's NPV function
In this article we describe how spreadsheets are riddled with errors, drawing on our own experience and on the research presented in the academic literature on spreadsheet errors and testing.
Around 95% of all spreadsheets contain errors. So, unless you've been extremely diligent, or perhaps just very lucky, then it is almost certain that your spreadsheets are wrong.
The spreadsheets that you rely on — to inform decision making, do reporting, and generally conduct analysis of just about everything — are probably giving you incorrect results.
Read more: Your spreadsheets are wrong
In this series of articles we introduce the iⁿ methodology for testing spreadsheets.
The iⁿ spreadsheet testing methodology is a set of guidelines for validating that a spreadsheet does what it is intended to do and ensuring that it will continue to do so.
The iⁿ methodology consists of five components: