This article is originated from here.
Project management is very important and one of the key ingredients for increasing productivity. Nowadays, project managers use sophisticated tools or software to help them out in task distribution or ticket resolutions etc. However, it would be wrong to assume that all of them are using the full potential of their task management software.
They usually just add projects, set deadlines and hand out assignments, yet there is a feature that can really help them out become better managers. Most quality tools nowadays have an in-built time tracking software that should be utilized. The following article will explain why time tracking is so important in managing projects and what its true benefits are for the future.
It can help you plan better
The core of project management lies in planning and knowing whether something will be plausible or not. By using online time tracking, project managers can receive valuable input regarding the time necessary for project completion.
Once you have the necessary statistics, you will know whether some projects will need less time to be completed, or more. Every project manager knows that you need to plan in advance and anticipate potential changes or repairs, thereby knowing the accurate time for project completion is very valuable for planning.
It improves efficiency
People tend to be more efficient when you introduce the element of competition to the equation. Only in this case, they would compete with their previous selves. Once you know just how much time they would need to finish a certain type of project, you can turn it into a record that they need to beat. So, in a way time tracking can serve as a form of motivation.
Moreover, if you know how to estimate the time you need for a project, chances are you won’t leave any unnecessary vacancy. You can organize your daily work evenly so that each day the amount of workload is the same.
If one day your workers are too relaxed, whereas the next one they are swamped, it can reflect badly on their performance. So, track time and categorize tasks accordingly, if you want your workforce to be satisfied and not overburdened.
It will help you organize future projects
Another group of people that benefits from time tracking tool are client managers. You can create an amazing spreadsheet that will help them in their negotiations. Once they know the nature of the project they can immediately know how to respond, and tell the client just how much it will take for the project to be completed; they won’t have to check with you every time a new client arrives.
These features are also a part of task management software, so creating these spreadsheets will be quite easy. Moreover, with such swift response your clients will find you more proficient and reliable, which will only result in positive reviews and future business transactions.
Reduces the chance of not delivering everything on time
The most important aspect of online time tracking is risk management. There is nothing more disappointing than missing a deadline, and it always reflects badly on your reputation. Sure, even if you keep monitoring projects and know exactly how much time it will take to complete them, it doesn’t make your strategy bullet proof, but it does mitigate the risks significantly.
As mentioned, always leave 2-3 days as backup, in case things do not go as planned, and if the client asks for something urgently you can immediately point out the potential dangers of such a request. All things considered, failing to deliver projects on time is really unprofessional, and should be avoided at all costs.
You become a better estimator
Once you get a hang of it, you will become an excellent estimator. You can modify an entire business plan based on your knowledge, create far better working strategies, and bring the optimization of the workflow to a whole new level. From that point on, you won’t use task management software to track time, you’ll simply use it to see if you made a valid educated guess regarding a certain project, and if not, you’ll use it to rectify those mistakes in the future.
In other words, this will help you grow professionally and you’ll become way more competent than before. You’ll know exactly what tasks you can take on, and which takes should be outsourced, whether you need a new employee or a part time solution only, so you can become really good at managing your budget and helping out in that department as well.
More thorough reports for clients
Finally, it can help you secure customer loyalty. If you use time management software you can also send you clients a detailed report on project progression. Whenever a client is updated, he or she will know exactly at which pace you are progressing, and will more likely re-hire your company in the future. This will make you look more professional and it will give you positive reviews, which increases your chances of gaining additional clients.
As you can see, these are all quite good benefits, and the whole process of tracking time is optimized thanks to task management software. All you need to do is use the statistics and results in order to organize better for future tasks. You get to distribute the workload evenly, you improve customer service, and you improve the budget management of the company. So, as far as online time tracking is concerned, go for it.