As a freelancer/ business person juggling various aspects of a business, time tracking becomes a crucial part of the routine. And time tracking is indeed crucial. From client work to marketing and record-keeping, meticulous time records help price services accurately and avoid overbooking. And that’s where project management with time tracking is an absolute need.
Regardless of whether you’re a solo entrepreneur or part of a 9-5 office, understanding how you spend time provides crucial insight and control over your energy allocation. And to help you out, we brought the ultimate guide to project management with time tracking. Curious? Keep reading to know more!
What is project management
Project management with time tracking is a comprehensive strategy that merges the fundamental principles of project management with the meticulous tracking of time spent on specific project tasks. This dual approach empowers teams to not only plan, execute, and complete projects successfully but also to gain a nuanced understanding of the temporal aspects involved.
Incorporating time tracking into project management facilitates a real-time assessment of resource allocation, progress tracking, and overall operational efficiency. This synergy enables teams to identify potential bottlenecks, optimize workflows, and make data-driven decisions for enhanced productivity.
The integration of time tracking into project management is particularly beneficial for accurate billing and invoicing, especially in projects billed on an hourly basis. By leveraging modern project management tools with embedded time tracking features, teams can streamline their processes, maintain transparency, and achieve a more holistic and informed approach to project execution.
Best three time tracking tool for project management
Tackle
Firstly we have in the list- Tackle! Tackle is a time tracking and project management tool designed to provide effortless time insights for users and teams. However, to help you out the details we made a table providing all the details.
| Feature | Description |
|---|---|
| Calendar Integration | Deep integrations with Google and Outlook calendars for seamless time tracking. |
| Intelligent Tracking | AI-powered search and spot-on recommendations for efficient tracking. |
| Seamless Time Capture | Browser extensions, automatic rule-based tagging, and desktop/mobile plugins for easy tracking. |
| Customizable Tags & Categories | Add custom tags or properties to time entries based on unique needs. |
| Personalized Reports | Generate custom reports tailored to team preferences. |
|---|---|
| Custom-Built Workflows | Intuitive workflow builder to automate repetitive processes. |
| Actionable Analytics | Beautiful charts, graphs, and dashboards for analyzing information. |
| Built-in Productivity Insights | Gain insights from existing data sources to optimize resource utilization. |
| Designed for Teams | Greater visibility, resource optimization, and maximizing ROI for teams. |
Toggl Track
Further down the list we have Toggl Track. Easy-to-use time tracking software for teams with mobile and desktop apps, and 100+ integrations for efficiency.
| Feature | Description |
|---|---|
| Time Reporting | Accurate reporting of billable and non-billable hours for better project decisions. |
| Analytics and Insights | Toggl Track’s Analytics feature provides insights with widgets, charts, and trends. |
| Time Tracker for Different Teams | Customizable time tracking for enterprise teams, small businesses, consultants, software teams, creative agencies, attorneys, and more. |
|---|---|
| Time Tracking Apps | Toggl Track offers apps for all devices and platforms, ensuring flexibility and accessibility. |
RescueTime
Lastly, we have RescueTime in the list as well. RescueTime automatically tracks time spent on apps, websites, and documents without manual entry, providing detailed reports.
| Feature | Description |
|---|---|
| Detailed Reports and Insights | Discover working habits, find time sinks, set goals, and track progress with detailed reports, trends, and insights. |
| Offline Time Tracking | Capture a full picture of your day by adding Offline Time when you’ve been away, even when not working online. |
| FocusTime | Use FocusTime to block distracting websites and apps, enhancing focus during work sessions. |
|---|---|
| Integration with Favorite Apps | Upgrade favorite apps with RescueTime’s tools and data, such as Asana task focus, productivity tracking from the calendar, etc. |
| Smart Goals and Real-Time Alerts | Set goals for time allocation and receive real-time alerts to stay on track and build better habits. |
| Timesheets AI | Combines AI with a drag-and-drop interface for easy, accurate project tracking and timesheet creation. |
Why time tracking matters
Now the question might come why does time tracking in project management matters? This is because when you are managing a project the timeline, how many people contributed and financial calculations are important. And time tracking helps that. Hence, time tracking in project management matters. Read in detail down below to understand further:
Precision in work estimates
Accurate time tracking is foundational for ensuring precision in work estimates. By meticulously recording the time invested in individual tasks, teams can align their project timelines with the actual effort required. This not only aids in meeting deadlines but also refines the ability to estimate future projects more accurately, promoting effective resource management. The insights derived from detailed time tracking contribute to a more informed and strategic approach to project planning.
Evaluation of employee effectiveness
Time tracking plays a pivotal role in evaluating employee effectiveness. It provides visibility into how team members allocate their work hours, offering valuable insights for performance assessment. This is particularly pertinent for businesses with hourly employees, professional service providers, and organizations working with freelancers. Analyzing time data allows management to identify top performers, address productivity bottlenecks, and implement strategies for continuous improvement. It serves as a tool for fostering a culture of accountability and excellence within the workforce.
Efficient resource management
Beyond individual performance, comprehensive time tracking contributes to efficient resource management within organizations. With a clear understanding of where time is invested, companies can optimize resource allocation, redistribute tasks, and ensure a balanced workload within the team. This not only enhances overall productivity but also contributes to a healthier and more collaborative work environment. Time tracking becomes an integral part of strategic workforce planning and allocation.
Client billing and trust building
Accurate time tracking is indispensable for businesses relying on client billing or cost-plus pricing models. Transparent reporting of time spent on client projects builds trust and credibility. Clients appreciate detailed breakdowns, fostering stronger relationships. It goes beyond mere invoicing; it becomes a tool for client satisfaction and long-term collaboration. Accurate time tracking instills confidence in clients, showcasing a commitment to transparency and efficient resource utilization.
Project profitability analysis
Moreover, time tracking facilitates project profitability analysis. Companies engaged in multiple projects simultaneously can leverage time data to determine actual project costs and compare them against generated revenue. This analysis informs decisions on pricing strategies, resource allocation, and the types of projects the organization should pursue in the future. It provides a holistic view of project performance, enabling organizations to make data-driven decisions for sustainable growth and profitability.
Wrapping it up
Phew that was a lot of information! In the fast-paced world of freelancing and project management, time tracking is essential for accurate service pricing and avoiding overbooking. This practice extends to project management strategies, combining fundamental principles with meticulous time tracking.
Tackle, with its seamless integration and personalized reports, and Toggl Track, offering customizable time tracking for diverse teams, stand out as top tools. RescueTime adds a unique touch with automatic tracking, detailed reports, and the innovative Timesheets AI, making time management comprehensive and efficient. Accurate time tracking is crucial for estimating work, evaluating employee effectiveness, and transparent client billing in project management. We hope you found what you were looking for.
Frequently Asked Questions
What is project management time tracking?
Project management time tracking is a comprehensive strategy that combines project management principles with meticulous tracking of time spent on specific project tasks.
This dual approach allows teams to plan, execute, and complete projects successfully while gaining a nuanced understanding of the temporal aspects involved.
How do you track project management hours?
Project management hours can be tracked using various methods. Common approaches include manual entry, where employees input hours spent on tasks, and automatic tracking, where employees use timers to record and log time automatically. These methods help keep track of hours at the task, project, and employee levels for comprehensive oversight and analysis.
What is time management in project management?
Time management in project management refers to the systematic planning, monitoring, and controlling of time spent on project tasks.
It involves setting goals for how time should be allocated, using real-time progress monitoring, and analyzing data for accurate future project estimates. Effective time management ensures progress transparency, resource optimization, and motivation for project teams.
What is the tracking method in project management?
The tracking method in project management involves the systematic recording and analysis of time spent on project tasks.
This includes methods such as manual entry, where employees input hours, and automatic tracking, where timers record and log time. The goal is to monitor progress transparently, identify issues, optimize resource allocation, and motivate teams through data-driven insights.
