Electronics/Technology :: Technology |
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Simplest Time Tracking |
| The simplest time tracking is a spreadsheet or table. You can find many templates online for tracking hours. As the number of employees increase, simple spreadsheets quickly become un-manageable. The next step is hooking hours to a database. By having everyone report their hours in a single database, you eliminate the onerous task of having somebody manually moving hours from each employee's timesheet into your payroll and systems. |
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The phrase "time is fleeting" had never had more relevance than it does in the 21st century as today's executives and project managers confront overwhelming demands on their time. Time has become as critical as money. Many companies, however, are not yet accustomed to allocating and investing it with the same level of care as they would with more traditional assets.
Most business executives and project leaders understand that time must be managed, accounted for, and invested in ways that maximize return, but this is open easier said than done. Companies seldom possess the right processes and infrastructure to make the most of time resources. They often confuse the cone business process of time resource allocation with simple timesheets or time management calendars. This is u dangerous as confusing a simple check register with a company's capital investment strategy.
The companies that skillfully manage their portfolios of internal and external projects ensuring that all projects help the company make money will be the companies that survive and succeed in both good times and bad. The hard truth is that no company can afford to mismanage its project portfolio. Whether that portfolio contains two or 200 projects, the goat remains the same: profit.
Billability, more typically termed "utilization rate," is the percentage of time in a given period during which an employee or set of employees are working in a revenue-producing capacity. A timesheet system can be configured to track whether work is considered billable to the customer or not.
Most organizations are trying to keep utilization above 70% or so. The higher the better until you've reached point where administrative tasks that are necessary to business (such as tracking time) are not getting accomplished.
If you have hourly employees, you need to have some way of tracking the hours they actually work. If you bill customers on an hourly basis, you need to have some way of associating billable hours with the correct customer and project. Search the Internet for a time tracking solution, and you will find hundreds, both proprietary and open source.
The simplest time tracking is a spreadsheet or table. You can find many templates online for tracking hours. As the number of employees increase, simple spreadsheets quickly become un-manageable. The next step is hooking hours to a database. By having everyone report their hours in a single database, you eliminate the onerous task of having somebody manually moving hours from each employee's timesheet into your payroll and systems.
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Article Source: www.activehowto.com
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Posted 2009-02-02 22:08:34 By Web Master
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