The Importance of Project Time Tracking

The Importance of Project Time Tracking

The Importance of Project Time Tracking

Every project that a company decides to take on should ideally be finished on time, as well as within the specified budget. The actual time frame is somewhat easy to follow, as it usually comes with a specific start and end date, but the cost of completing the project can be a little trickier. This is especially true on projects that have a number of different individual elements being worked on at any given time.
You may often have projects that multiple people are working on, sometimes in the same area and sometimes in different areas, all working independently of one another towards the same goal. If you cannot keep track of the time they have committed to the project, how can you possibly know whether or not it is profitable?

Streamline the Process with Project Time Tracking

It is likely that each person working on the project may not be doing so at the same time, and they may also be working on other projects at any given time. Keeping up with it all can be a nightmare, but if each employee can get in the habit of putting their efforts into the Microsoft Outlook calendar, that information can then be automatically added to time tracking software that allows Outlook integration. It then becomes easy to see how much time has been spent on a specific project, and the manager can see how far along, or behind, they are at any given time. One part of the project may not be able to start until another ends, so the supervisor can pass on approval to the next person up as soon as it is ready to move to the next phase.

Deliver Proper Billing With Project Time Tracking

While some projects are costed out and quoted before they begin, others are billed based on the total number of hours it takes to complete said project. The client getting the work done may well want a detailed report of exactly how each minute and hour was calculated, and project time tracking software makes that easy to do. If additional tools were needed to get the job done, the person in charge of the project can add the expenses into the software in real time so that nothing is missed and everything is accounted for.

The proper time tracking software will also allow you to set up who can and cannot do different things in the system, for example setting up projects, reporting time, approving hours, etc. No matter how many employees you have on the payroll, look for software that works both online and offline, as you never know when those people may be in an area where logging into the network is impossible. Being unable to report time when needed can mean that some info slips through the cracks, making accurate reporting impossible.
Having proper project time tracking in place is therefor essential.

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