From a central location, administrators can run the Office Update Inventory Tool on client computers to find out which Office updates have been applied, which Office updates are available to be applied, and which Office updates can be applied only to an administrative installation point. To use the Inventory Tool you must also download the latest Inventory Tool Catalog file (invcif.exe). Go to the Inventory Tool Catalog page to download the latest detection information used by the Inventory tool.
Download: Office Update Inventory Tool Version 2.1
News source: Microsoft Download Center