Build an Excel model. If possible, automate an existing work pro. Take and improve an existing collection of work spreadsheets.
Take an existing work process and attempt to improve or automate it with Excel. This could allow for better data collection or clearer business analytics. In the past I have modeled future Financial Aid expeditures at UofL, matched partial demographic information to an existing database, and combined all the MBA schedules in the College of Business into one document.
Given the time constraint in this class the scope of the project should be kept small and manageable. I expect the final project report to be about 10-15 pages (double spaced and 12-point font).