It’s only happened once, but I was in the middle of a profit-sharing year for an Open Book client when I realized a critical FTE input was missing. The model is moderately complex with hundreds of inputs.
I thought my workflows ensured missing inputs would never happen. Wrong. Thankfully, we got everything worked out, and no one lost profit sharing bonues from their checks.
However, that will never happen again. Here’s a simple technique that even experienced modelers take for granted and may leave out.
Modeler’s Tip:
Think of other ways you can apply conditional formatting to your models. For instance, certain results stemming from a formula could be too small or too large. The conditional formatting could trigger revisiting a driver for those results or constraining inputs elsewhere in the model that drive them.
