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Kelly Rowland cannot escape questions about texting Nelly via Excel
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Not OP, but if I had to hazard a guess, it started as a rudimentary issue tracker and grew into a formalized system over time, maybe? I've worked with many a project manager who "knew Excel" and liked to use it for things it should never be used for, and sometimes PMs get promoted and take their dumb little systems up the org chart with them.