When we are too busy it is all too easy to lose sight of where we are spending our time, particularly if we are juggling projects and/or clients. This problem can be even more acute where we have teams working on multiple projects. It is not unusual to find that a project takes a lot more time than originally envisaged, or continues to absorb time even though it has been superseded by a new project and is no longer relevant. Project management software can help you a great deal when dealing with these kinds of problems.
Sometimes ‘scope creep’ happens when a client asks for more work than was envisaged in the original brief or changes requirements before a project is completed. Unless these problems are identified and dealt with, they can end up costing a lot of money without ever satisfying client expectations.
There is truth in the old saying, ’Time is money!’ It is important when costing projects to be clear about what is included and to communicate this to your client — whether the client is an internal customer in your organisation or an external customer. Estimate how much time and technical support will be required and discuss how any additional costs will be allocated if extra work is subsequently needed. Transparency and clarity up front can save headaches at a later stage.
Keep in mind that while time tracking software, such as MyHours, can deliver valuable insights, you need to exercise good discipline when it comes to data input. Insights are unlikely to benefit your bottom line unless the data they rely on is accurate and up-to-date.
Need an independent view?
When you are very busy and/or overloaded with demands on your time, it is easy to find yourself in ‘firefighting’ mode, losing sight of the big picture. If you find it difficult to be objective about prioritising tasks, allocating time, monitoring workloads, delegating effectively and measuring progress, it can be helpful to get advice from someone who understands your business.
GroForth specialises in helping growing businesses, technology companies and accounting firms to maximise their efficiency and control costs. Contact us at firstname.lastname@example.org or ring our office on 01 905 9436.