How To Calculate Magic Number in Microsoft Project | Arithmix
Learn how to calculate the magic number in Microsoft Project with our step-by-step guide. Improve your project management skills and ensure project success with this essential technique.
Calculating the magic number in Microsoft Project can be a useful tool for project managers who want to better understand their project's schedule. The magic number is a calculation that helps determine the amount of work that can be accomplished in a given time frame. By understanding the magic number, project managers can better allocate resources and adjust schedules to ensure that their project is completed on time and within budget.
What Is Magic Number?
The magic number is a calculation that takes into account the amount of work that can be accomplished in a given time frame. It is calculated by dividing the number of working hours in a day by the duration of a task. For example, if a task has a duration of 5 days and there are 8 working hours in a day, the magic number would be 1.6 (8/5).
The magic number is useful because it helps project managers determine how much work can be accomplished in a given time frame. By knowing the magic number, project managers can better allocate resources and adjust schedules to ensure that their project is completed on time and within budget.
When Is It Valuable To Calculate Magic Number?
Calculating the magic number is valuable in a variety of situations. For example, if a project manager is trying to determine how many resources are needed to complete a project, knowing the magic number can help them make more accurate estimates. Similarly, if a project manager is trying to determine if a project is on track, knowing the magic number can help them identify potential issues and adjust schedules accordingly.
Additionally, the magic number can be useful when managing multiple projects. By calculating the magic number for each project, project managers can better allocate resources and ensure that each project is completed on time and within budget.
Overall, calculating the magic number in Microsoft Project can be a valuable tool for project managers who want to better understand their project's schedule and ensure that it is completed on time and within budget. By taking the time to calculate the magic number, project managers can make more accurate estimates, identify potential issues, and better allocate resources to ensure project success.
How Do You Calculate Magic Number in Microsoft Project
Microsoft Project itself isn’t naturally geared towards letting you calculate complex metrics like Magic Number. As an alternative, teams typically use products like Arithmix to import data from Microsoft Project and build out dashboards.
What is Arithmix?
Arithmix is the next generation spreadsheet - a collaborative, web-based platform for working with numbers that’s powerful yet easy to use. With Arithmix you can import data from systems like Microsoft Project, combine it with data from other systems, and create calculations like Magic Number.
In Arithmix, data is organized into Tables and referenced by name, not by cell location like a spreadsheet, simplifying calculation creation. Data and calculations can be shared with others and re-used like building blocks, vastly streamlining analysis, model building, and reporting in a highly scalable and easy to maintain platform. Data can be edited, categorized (by dimensions) and freely pivoted. Calculations are automatically copied across a dimension - eliminating copy and paste of formulas.
Arithmix is fully collaborative, giving your entire team access to your numbers and the ability to work together seamlessly.
Calculating Magic Number in Arithmix
Calculating metrics like Magic Number is simple in Arithmix. Once you've created your free account, you’ll be able to import your Microsoft Project data, and use it to create natural language formulas for metrics like Magic Number.
Arithmix is designed to give you the power to build any calculations you want on top of your Microsoft Project data, while also being easy to use and collaborate on. You can share your dashboards with users inside and outside of your organisation, making it easy to empower your whole team.Use Arithmix free