Effective project management relies heavily on two key components: time tracking and resource management. Together, they form the backbone of successful project execution, ensuring resources are allocated efficiently, teams stay on schedule, and project goals are met. By combining accurate time tracking with strategic resource management, organizations can estimate project demand, validate those estimates, and improve over time.
The Role of Time Tracking in Resource Management
Resource management refers to the strategic allocation and oversight of resources—such as personnel, tools, and budgets—to specific projects to meet objectives. It ensures that the right resources are in place at the right time to deliver on priority initiatives, maintain productivity and avoid bottlenecks.
Time tracking is the process of monitoring and recording the time spent on projects across a larger project portfolio. It allows an organization to audit work performed for consistency and quality. The resulting collection of historical data also provides a baseline for future estimating, and acts as a quality information source for Artificial Intelligence (AI) modeling.
When time tracking and resource management are integrated, they offer a comprehensive view of estimating quality and project performance. The variances produced by time tracking data, actuals vs. forecast, assists project managers in adjusting demand estimates, schedules and workloads dynamically. Time tracking without resource management is not as valuable to project managers or organizations.
Benefits of Integrating Time Tracking & Resource Management
Time tracking and resource management go hand-in-hand to streamline operations and enhance overall productivity. Time tracking provides the auditing process that enables organizations to gain resource management maturity.
Improved Resource Allocation
Time tracking helps managers identify where they may be over- or underestimating project needs. Adjusting these estimates mid-project allows them to align resource allocation plans with schedules and budgets more effectively.
Enhanced Project Planning
Time tracking for projects provides real-time data, enabling more accurate project schedules. Teams can dynamically adjust plans to account for changes in scope, resource availability, or resource constraints, reducing delays and ensuring project milestones are met.
Identification of Bottlenecks
Resource tracking helps teams spot changes that might create new resource capacity issues or bottlenecks in the demand plan. Addressing these bottlenecks early by reallocating resources, or adjusting the resource forecasts, will help the organization to remain on track and meet delivery deadlines.
Informed Decision-Making
Time and resource management tools provide data-driven insights based on actual occurrences, allowing decision-makers and artificial intelligence (AI) models to make adjustments.
Increased Accountability and Transparency
When team members track their time and resource usage, they take greater ownership of their work. Clear communication with stakeholders about progress and resource allocation builds trust and ensures everyone stays aligned with project goals.
Features of Effective Time Tracking Software
Choosing the right time tracking software can make a difference in the level of staff adoption achieved and the level of organizational value realized.
User-Friendly Timesheets
Simplified time entry through auto population of work, and simple steps for adding unexpected items will encourage team adoption. By making the process intuitive, teams can focus more on their work and less on administrative tasks.
Flexibility in Tracking
The best project time tracking software supports tracking across devices and locations, accommodating remote and hybrid work setups. This flexibility ensures all team members can log time accurately, regardless of their work style.
Approval Workflow
Streamlined approval workflows speed up the review and approval of timesheets, preventing delays in billing and reporting. For many organizations an auto-approve system, with the ability to make adjustments after the fact, will simplify the process and eliminate some of the remedial work.
Compliance Monitoring
Built-in compliance monitoring helps organizations adhere to labor laws and internal policies. Automated compliance checks save time and reduce risks, ensuring smooth execution without HR complications.
How to Time Track with ResourceFirst Resource Management Software
When team members log into the ResourceFirst platform, they encounter two main sections:
- Home Screen: This screen displays all your project-level and task-level assignments. It also serves as a notification center, alerting you to overdue timesheets or other schedule-related updates.
- Timesheet Section: Here, you select a time period, and your timesheet is automatically populated with all committed project-level and task-level assignments. Filling out the timesheet is simple: You can add time either as a total for the entire period or enter it on a daily basis. Time is typically logged in hours, but percentages are also an option.
In ResourceFirst Release 9, adding unplanned tasks to your timesheet is simple. Non-project activities integrate smoothly with your existing work, and once you’re done, submitting your timesheet for review is quick and easy.
Managers can review timesheets for the current period, either approving them at a summary level or examining details before making a decision. They can also access a compliance section to track missing timesheets, with the ability to drill down into specific operating units.
Integrate ResourceFirst Time Tracking with Resource Management to Drive Project Success
Combining time tracking with resource management unlocks a powerful synergy that drives project success. By integrating time tracking, teams gain deeper visibility into how resources are utilized, allowing for proactive adjustments that keep projects on schedule and within budget.
Experience the next level of project efficiency with ResourceFirst Release 9. Designed to seamlessly integrate time tracking and resource management, it empowers your team to optimize workflows, improve accountability, and achieve outstanding project outcomes. Take the guesswork out of resource allocation and stay ahead of deadlines with this cutting-edge solution. Try ResourceFirst Release 9 today and see how it can transform how you manage your projects.
