Step by Step How to Write a Gap Analysis Spreadsheet

Gap analysis can be defined as a tool which can help a business identifies where it is living up to its potential & then use the information to plan the ways for business improvement. To learn how a gap analysis spreadsheet works, you need to follow the following guidelines step by step.

How to Write a Gap Analysis Spreadsheet

Basically, there are some steps that you need to follow in writing a gap analysis template. First of all, you have to identify the business area to be analyzed. After that, you need to identify the goals that must be accomplished.

For example, you want to know why your company does not meet its output target. In this case, the goal is to discover the factors that cause that. It is contributed to the targets that are not met. Besides that, you also need to recommend how to remove those causal factors.

Secondly, what you need to do is to establish the future state that is ideal for you. If everything in your business worked well based on your plan, you have to think where you will be. It will help you decide the best future state for you.

Then, you cannot forget to analyze your current state. You have to find the factors that cause you miss your target. For example, you must figure out whether the workers are trained well or not, whether the needed materials are available consistently or not, or other details of analysis.

Writing a gap analysis form also requires you to compare your current state with the new or the ideal one. For example, you expect to produce 2,000 units per day. However, you can only produce 150 units per hour. You must know how far from your target was actual production.

Next, you also have to describe the gap & quantity of the difference. Companies may use different rating systems to describe the quantity and gap of the difference. Some basic terminologies are often used such as poor, fair, good, excellent, etc. You may also use a scale for more detailed.

Lastly, you need to summarize the recommendations. Besides that, you should also make a plan to bridge the gap. Here, you must decide the needs that need to be changed as well as determine the steps to take to fix things. You must summarize the ideas and plan for the improvements.

There are many examples where a company uses a gap analysis. For example, you will do this analysis to determine why the sales did not meet forecast after your company launches new products. It is really possible and we often find that this case happens in different businesses.

Templates for Financial Gap Analysis Excel Spreadsheet Sample

Another example, when a hospital runs short of supplies on the regular basis, performing a gap analysis is needed to identify the causes. And there are still many other examples. Now, after paying attention to this, it is your time to practice writing a gap analysis spreadsheet for your own business.

Similar Posts: