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I agree with jimlynch, don’t waste your time on trying to efficiently manage your projects with spreadsheets. I don’t claim that it’s impossible, it’s just inefficient use of managerial time and resources. Moreover, spreadsheets lack collaboration features that are essential for staying on top of the projects, so you need to rely on email or Skype to keep track project updates or discuss task bottlenecks with the team. On the other hand, online project management tools allow you to track project, progress in real time, collaborate with your team and much more.
I’ve also left some recommendation on choosing the best PM app in the answer to the question posted by JOiseau “What is a low-cost but efficient project management system?” It’s quite long, so here is the digest: