How Time Tracking helps Project Management Process
Project Management is a fairly new concept. Prior to the 20th century, builders and architects managed the projects themselves. Project Management acquired a status of a dedicated job only after the 20th century.
It was when the businesses become more and more complex and a person with great management skills was needed to overlook the business endeavors. In the 1950s, Project Management was recognized as a field of academia.
So we can say that the Project Management Process has come a long way. But the field is still evolving, more so than ever. And the reason for this is the advent of new technologies and innovative tools like Time Tracking Software and Customer Relationship Management Software.
It has been estimated that Time Tracking is $200 million business and still growing. These figures suggest that Time Tracking has been embraced by the Corporate World. Let’s dwell into the reasons how Time Tracking helps the Project Management Process.
But before that let’s look see the benefits of Time Tracking Software.
- Complete statistics about how long your employees worked.
- tells you how much time it took to get the projects done.
- Detailed breakdown of time spent on all the tasks.
- You can keep the track of employees activities.
Ways in which Time Tracking helps Project Management Process
We have seen that Time Tracking gathers deep insights into how the resources (time, human resources, money, infrastructure) are spent. This information is like gold for Project Managers. These statistics become the input data when it comes to estimation.
For example, you have a new software project at hand. You know from the previous experience and knowledge, which you acquired through Time Tracking, that it would take your Graphics Design Team two months to deliver this project. Keeping in mind this guess, you can make financial estimates and decision that are profitable for the organization.
Meet the Deadlines
Business Case Studies suggests that Organizations fail to meet the deadlines due to the following reasons:
- Poor Time Management
- Lack of Accountability
- Insufficient planning
- Bad organization skills
Meeting deadlines is of great significance in the Project Management Process. In today’s world, the competition is cut-throat. If a company fails to deliver the project on deadline, it can dangerously harm in the Corporate arena. Therefore, it is absolutely necessary to deliver projects on time and the managers make great efforts to achieve this.
Thanks to the technological innovation, Time Tracking has helped the Project Managers to a great extent.
As discussed above, many useful insights are brought forward by a good Time Tracking Software. The management of the projects becomes seamless due to the insights and information delivered by the Time Tracking Software. And this leads to meeting deadlines and delivering projects timely.
Manage Work Better
It is a lot easier for managers to manage the employees and the tasks if they are on top of the day to day activities and productivity of their team members.
The managers who are well aware can identify the Hurdles that are stopping the team from getting on with their work. They can see the shortcomings of the teams. These diagnoses can help move towards a cure and solution.
A management team in touch with the realities of the team is very powerful and can take the business forward at a supersonic pace.
Save employees from the Stress
Statistics suggest that the workforce of the modern era is the most stress of all times. Of Course, this stems from the insane competition and the pressure to keep up with the world. The burnout costs as much as $20 billion to the Australian economy each year.
The reality is that stressed and burnt out employees are pretty much useless. It is the agenda of modern Project Managers to keep the employees sane and happy. And Time Tracking Software has helped managers and bosses a lot in identifying the limits of work that is
Save projects from derailing
When you know your team well, your deadlines are realistic and the work is managed diligently, your projects will not be derailed. You would be able to foresee a hurdle and resolve it before it turns into a serious crisis.
Similarly, you would be able to redirect the project towards a better path by keeping track of the progress and productivity.
Modern technological tools are reshaping all the aspects of our lives. And Project Management Process is not spared either. The tech-savvy managers use all the tools at their disposal to make the process efficient and more profitable!