When managing projects more efficiently, it is understood that time tracking data is key. This data allows for you to make better decisions and plan resources. It also allows you to proactively assess if the project will be a failure or success.
Thus, when a company uses time management software that not only records on time spent on a specific project but also records specific tasks done within a project – the level and detail of the information will be gold dust to your company. When task and time management combine efforts, it can have a very effective result. Here are just some of the reasons why:
Reporting can be very detailed
You can assess exactly where every minute of every hour is being used and if they are being used most efficiently. Additionally, by recording tasks you can see a breakdown of the billable hours on each, thus allowing you to assess what tasks are a core money maker for you.
More informed and at ease clients
When you are dealing with clients, it is not unheard of that they will ask ‘where are we at?’ ‘why is it taking so long?’ or ‘why has my budget been eaten up all of a sudden?’. By tracking time spent on individual tasks, it allows you to report back to your client quickly on these typically asked questions. Quicker answers, backed by figures, can boost your client’s confidence and increase their trust in you.
Analyse predicted time against actual time spent.
Predicting how much time a certain task may require and how much time it actually took can sometimes be way off. This can be for a few different factors both internal and external. By recording this information, it allows you to be more accurate for future projects. You could look at the detail to find out what happened to cause a difference and how can you avoid this from happening again.
More accurate pricing structure
By using information established from the above point, it can allow you to become better when it comes to pricing projects. If a task takes much longer to complete than anticipated, you may want to consider charging more for it in future, or at least consider the effort required when providing a quotation for works.
Time and task management works really well together, by using a system that allows your employees to record under both can hugely impact the success of a project. Allowing your projects to come in on time and on budget.