Ever have a project that didn’t go according to plan? We’ve all been there. Sometimes lessons are learned the hard way. Others can be avoided if you heed advice from peers. BigTime’s CEO, Brian Saunders, recently weighed in with his ideas on how to prevent project managment mishaps in a Small Biz Daily article.
His suggestions are worth highlighting now, since we’re in the midst of another busy tax season and near the end of the first quarter in 2018. When busy times hit, it’s easy to overlook the details. But, as it turns out, the details matter when it comes to project management.
If you want to avoid project management disasters, consider Saunders’s advice.
“Companies can be siloed,” Saunders explains, and project managers should to make sure “everyone has the information they need in front of them.” He suggests using Google Drive for easy collaboration, and adds that it’s “great for managing project budgets and documentation.” Slack, on the other hand, “allows for spontaneous conversations.”
BigTime also makes it easy to share information with clients and staffers. Create reports in BigTime and share them with your team, so they’re aware of task statuses and revenue projections, for example. Reference resource allocation to see who’s logging excessive hours to a project, and talk to them to find out why. It’s equally important to share relevant details with clients when budgets run dry or deadlines need to be extended.
Tracking time daily—yes, daily—is important. Doing so can prevent billing errors and increase revenue. “The closer you are to the date you did the work—that time is more likely to be billable,” Saunders says. A BigTime study found that daily time entries produce a “1.36% higher billing realization rate than time entered 96 hours or later.”
Here again BigTime has its users in mind. Track expenses and add receipts when you’re on the go by using the BigTime app on your smartphone, even when you’re offline. Automatic notifications alert managers when staffers’ expenses are ready to review, approve, or correct.
Be sure to add notes to your timesheets. The same BigTime study found that $35bn in billings is lost each year due to missing or poor time entry notes. Adding a 140 character note—the length of a Tweet—to timesheet entries produces a 4.95% higher billing realization rate compared to entries without them.
We often assume things like a bigger budget or more staffers make or break a project. But more resources won’t necessarily matter if you overlook the small, but important aspects of project management. Master the fundamentals and you’ll handle projects with ease.