I have a workbook where all macros and functions operate correctly until I save and reopen the file.

Upon reopen one IF stament generates #VALUE.

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Worksheet name: 2

=IF('2'!B$7="Chest","B",IF('2'!B$7="Back","E",IF('2'!B$7="Shoulders","D",IF('2'!B$7="Biceps","F",IF('2'!B$7="Traps","A",IF('2'!B$7="Triceps","G",IF('2'!B$7="Forearms","H",IF('2'!B$7="Lats","I",IF('2'!B$7="AbsH","J",IF('2'!B$7="AbsR","K",IF('2'!B$7="AbsP","L",IF('2'!B$7="Legs","M",""))))))))))))

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I have eliminated macros within the workbook as being the problem and isolated the above function.

For example:

Chest <-----B$7
B <-----B8--> =IF('2'!B$7="Chest","B",...

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The output B feeds into a Data Validation List on another worksheet and everything works fine until I save and reopen. I have tried on all three of my computers and different OSs and they all report the same #VALUE error in Excel 2011.

I is driving me mad to have my workbook work fine until I reopen.

Thank you in advance for any advice!