Is time tracking critical to project success?
When you keep track of time — for yourself, your project, and each team member individually — you’re better able to set appropriate hourly rates for work, document billable hours to support invoices, and manage projects for more successful outcomes.
In this article, we’ll dig deeper into project management time tracking, including why it’s an absolute must for any project team, and what tools you can use to do it.
We’ll highlight how monday.com’s project management software helps you honor your team’s time while also gathering details about how you spend it, and we’ll even provide some links for some related templates that can help you set your projects up for success on monday.com.
Let’s begin by addressing why teams should invest in the practice of keeping track of time.
Why to Choose Clockies for Your Project Management?
It works best when your project management tool has a time-tracking feature. It creates transparency in the project delivery process and makes it easy to look at and capture the necessary data at a glance. Some of the benefits of having a time tracking feature right in your project management tool include:
- Easy to track payments
If your team depends significantly on hourly workers to get some of your work done, it may be tricky to keep track of their compensation. But, with a time tracking tool, you’ll be able to track how long your team members spend on the job so it’s easy to determine their compensation.
- Smarter resource allocation
Tracking time while managing projects offer a no-stress avenue to keep an eye on where specific staff and resources are allocated, the impact they’re making there, and where to adjust your team and resources to derive a greater level of productivity.
- Time reports
Smart time tracking yields actionable data that you can look at and see what to change to manage projects better, faster, and under budget. Time tracking helps measure project progress, the time individual team members spend on specific tasks, and that way, it’s easy to see what to change to increase the team’s productivity.
With a view of how long it takes specific team members to deliver specific tasks, the project manager can uncover project reports to assign team members to achieve maximum productivity.
