Is Streamlined Timesheet Reporting important?
Keeping track of employee hours is an essential part of running any business. However, it is especially important in enterprise project portfolio management. Timesheet reporting shows how much time and resources are being spent on all your projects and programs.
Today, sophisticated timesheet reporting software helps project management offices (PMOs) more efficiently allocate resources. It assists managers in prioritising demand, reducing bottlenecks, and identifying any productivity pain points. These are all areas that might cause project delays or scope creep. In addition, when timesheet data combines with powerful analytical tools, PMO’s can optimise the processes for better project delivery overall.
How Do I Improve My Reporting?
Streamlined timesheet reporting means employees can accurately record their work effort without undue administrative burden. One of the best ways to achieve this is to implement an electronic, cloud-based timesheet system. Such systems eliminate the need for paper-based timesheets and reduce manual data entry. This results in significant time savings and less error.
The timesheet’s interface should be intuitive and user-friendly, letting employees easily log their hours and any other relevant data. Additionally, it should be customisable for different projects, tasks and teams. Ideally, it will integrate with any other software tools used by the business (such as project timelines and accounting systems).
With well-designed electronic timesheet recording in place timekeeping is expedited so managers can focus on key aspects of PPM strategy.
What Does Streamlined Timesheet Reporting Do for My Business?
Accurate Timesheet data improves project resource management by:
- Increase Visibility and Accountability: Timesheet reporting helps measure productivity across the organisation.
- Help Calculate Resource Use and Costs: Analytical tools use timesheet data to provide up-to-date calculations of ‘Earned Value’ and effort. This helps managers make more accurate projections of resources for future project proposals.
- Strategically Aligns and Prioritises Projects: Timesheet reporting integrates with cost management, benefit management, and other tools. This kind of visibility helps to guide project prioritisation. It can help align project approvals with strategic goals and assist decision-makers to focus on strategic value.
- Improve Real-Time Monitoring and Evaluation: Streamlined timesheet reporting allows up-to-the-minute, real-time monitoring of project performance. This allows for rapid forecast revisions and strategic interventions during project delivery to prevent issues from escalating.
Skills Assessments at Scale
When managing multiple projects, programs, or portfolios, the ability to assess what skill sets are available at any one time is vital. Leading PPM solutions like PMO365 enable you to plan for current projects and anticipatefuture requirements. It also lets you model ‘what-if scenarios’ where plans are suddenly forced to change, for example.
With advanced modelling and real-time reporting and dashboards, PMO365 provides an accurate picture of who and how many units of labour are required at each stage of each project’s delivery. PMO365’s timesheet reporting integrates with all your enterprise software to give accurate projections of requirements.
Furthermore, if an issue arises in one project or program that requires the immediate deployment of additional resources, PMO365 assists managers to instantly determine how much skill is available to help.
Next Level Enterprise Project Portfolio Management
PMO365’s Timesheets App is part of a comprehensive and tailored project management solution built from over 15 years’ experience in PPM for industry across Europe, Australia and the USA.
When combined with PMO365’s other PPM components, it provides a complete and accurate picture of the entire project portfolio. It can also be configured to integrate with virtually any Microsoft and non-Microsoft PPM application for optimum efficiency and strategic value.
Find out more about our Timesheets App and see how PMO365 will take your project resource management to the next level.
PMO365: The Project Management Office on your Microsoft 365 cloud.