Organizations are constantly looking to improve, meet long-term goals and generally stay innovative. One of the tools to strategically analyze where you are, where you want to be and how to get there is called a gap analysis template.
Use our free Excel gap analysis template to develop a rough vision of how your organization can bridge the gap between the current state of affairs and its desired destination. Download our free gap analysis template today and get started.
What Is a Gap Analysis Template?
A gap analysis template is a project management chart that helps you gather the information you need to build an action plan that will take your organization from its current state to the desired future state you want it to be.
That information includes the focus areas of improvement, a gap percentage, a timeline, resource requirements and more. This free gap analysis template for Excel is a great place to get started with your gap analysis.
When Should You Use a Gap Analysis Template?
As noted, the gap analysis template should be used whenever there’s a strategic objective or business goal to hit. It determines the actions necessary to reach that goal. Gap analysis is a very versatile method that can be used for project management, business process improvement and product management. Using a gap analysis template can help you discern why you’re not meeting deadlines in any of those cases.
Gap analysis works best when you have the most accurate picture of your current state. Project management software can help give you more details. ProjectManager is online so you get live data for greater insights. Zero in on where you want to improve with filtered reports on workload, costs and more. Closing the gap is a plan that can be organized on Gantt charts that link dependencies, calculate the critical path and set baselines. Using our real-time dashboards helps you monitor your plan as you put it into action. Get started with ProjectManager for free today.
How to Use ProjectManager’s Gap Analysis Template
Download our free gap analysis template for Excel and get started on meeting those business targets and improving processes. We’ve formatted the gap analysis template for use in a project with space to name the project, project manager and date, but the fully customizable template can be applied to any job that requires a gap analysis.
1. List your focus areas
The first step to using this Excel gap analysis template is to list your focus areas. Those can be, for example, the business processes you seek to improve in your organization, or even an HR skill gap.
2. Determine the current and future state of your focus areas
The next column is the current state of the focus area on which you’re working. Next comes the future or desired state, or where you want to be in the near term. For our gap analysis example, the dev team would like to expand from 10 to 20 employees. Now you have a focus, its current state and the desired state you plan to reach.
3. Estimate the gap percentage
Next, is the gap you need to close which is usually represented by a percentage. Following our gap analysis sample, if the dev team wants to grow from 10 to 20 employees, that’s a 50 percent gap to close. Simply add the percentage under the “gap” column.
4. List action items to close the gap
The next section deals with how you’re going to close that gap. To begin you’re going to need resources. Those could be people, equipment, materials, etc. In our example, it’s contracting with a hiring manager to recruit new dev workers to the existing team.
5. Identify the responsible party
Following this, identify the person in your organization who will be responsible for leading the initiative. They’re tasked with managing whatever action is designed to close the gap between the current and future state.
6. Add notes
Finally, there’s a column in the Excel gap analysis template to note the status of the action. It can be designated as not started, in progress, behind, stalled or done. These can be edited to match your own usage. Then there’s a column to capture any relevant notes that don’t fit in the other columns.
Who Should Use a Gap Analysis Template?
Gap analysis is used in many business settings and who uses them varies depending on where they’re being used. For example, project managers in IT environments will often generate a gap analysis to improve team processes.
When dealing with a business that’s looking to move to the next level, it’s usually the owner who leads any strategic initiative. They will involve relevant employees who can help develop a more accurate picture of the current state of the business. These people will also likely be involved in the action plan.
Software developers also use the gap analysis template. It can help them note the services or other functions that might have been neglected. It also can point to those that need development.
Gap analysis templates are often used in compliance. It helps those responsible for staying in compliance compare requirements to what’s currently being done on the job site or in other areas. There is a number of business professionals who can use the gap analysis template to help them improve and do their jobs better.
Why Should You Use a Gap Analysis Template?
Gap analysis is a way to strategically look at a current state and compare it to the desired state. Organizations can use this gap analysis template for any scenario where they need to move from point A to point B and need to develop an action plan.
Advantages of Using an Excel Gap Analysis Template
This Excel gap analysis template is a basic alternative for those who are new to gap analysis. First, it’s easy to use. Simply list the focus areas, current and future state, action items, priority levels and due dates. That’s all you need to create an action plan.
Another advantage is that most people are familiar with Excel, even though it’s not project management software. And lastly, it’s free to download!
Disadvantages of Using an Excel Gap Analysis Template
A gap analysis template for Excel is just a static document. While it helps you plan, it’s not the right tool to track an action plan. Excel templates are time-consuming as they need to be updated manually. Another issue is that your team might end up with multiple copies of your Excel gap analysis template, which might lead to confusion.
Instead, you should use project management software like ProjectManager. With ProjectManager, you can use Gantt charts and other tools to create visual action plans and collaborate with your team in real time.
ProjectManager & Gap Analysis
Once you have a clear idea of where you are and where you want to go, you need to put that plan into action. ProjectManager organizes your tasks to help you get there faster and for less money by streamlining efficiencies.
Online Gantt charts plot your action from start to finish. It’s easy to add milestones, planned efforts and more. That way, when you start to execute your plan, you can compare the actual effort to your plan and know if you’re falling behind schedule or overspending your budget.
Share reports with stakeholders to keep them updated on progress. In fact, you can share the whole project with them. Managers set the admin rules, so stakeholders can stay in touch with read-only files and your work can’t be mistakenly deleted or changed.
What Other Project Management Templates Can Help with Gap Analysis?
This gap analysis is only one of the dozens of free project management templates we offer for your business. Try as many as you like. We’re sure that they’ll prove helpful and lead you to upgrade to our software. Until that time, here are some other templates you might want to use:
Action Items Template
As you meet with your team to discuss how to move from the current state to the desired one, you can use our free action items template to capture all the ideas in one place. It will help you define who is responsible, what they need to do and when the deadline is.
Project Timeline Template
Once you have your action items defined with deadlines, you’ll want our free project timeline template. Now you can map those tasks across a visual timeline from start to finish. You’ll see the duration for each and know how long it’ll take to reach your desired state.
Work Schedule Template
You have your tasks and they’re on a timeline, now you need to assign the team. Using our free work schedule template will help you organize your resources. Connect the team member to the task and schedule their hours across our weekly planner.
Related Content
While you’re downloading templates, stick around the site. We’re an online hub for all things project management, publishing multiple blogs a week. There are also tutorial videos, guidebooks and more. To get you started, here are a few blogs that speak to the topic we’ve been discussing.
- How to Make a Process Improvement Plan
- Continuous Improvement Business Strategy—A Quick Guide
- How to Implement Business Process Improvement
- How to Perform a SWOT Analysis
- SWOT Analysis Template
- How to Write an Action Plan
- Root Cause Analysis: A Quick Guide
- Strategic Planning in Business
Our gap analysis template is a great tool to move your business forward or improve processes. But to stay competitive, you need software that can handle everything from planning, monitoring and reporting on your performance and progress. ProjectManager is an award-winning tool used by NASA, the Bank of America, Ralph Lauren and more. Tens of thousands of teams work better together with our software. Why don’t you give it a try for free today?