Do you prefer allocating budgets by month or week? Now you can make that call with resource allocation, where you can choose between monthly or weekly allocations. Despite your selection, you can run reports at both the weekly and monthly level.
Which option is best? Ultimately the answer is firm-dependent, since there are benefits to both. Weekly allocations mean you’ll allocate budgets by week (see image below). This view provides a more granular look at your business and staffers, for both planning and reporting purposes. It’s ideal for tracking shorter projects, typically less than 12 weeks.
Monthly allocations, on the other hand, mean you’ll allocate budgets by month (see image below). It’s a good option for firms with bigger project teams, and longer durations. Similarly, if you tend to manage your firm month-to-month (eg – assignments are monthly, project metrics are reported monthly, goals are monthly, etc), then the monthly option is more appropriate for your firm.
You’ll select your allocation period the first time you edit allocations (see image below). Then, BigTime will use the format you select.
Weekly vs Monthly Reporting
You can run allocation reports at the weekly or monthly level—no matter which data entry format you choose. Each report has the option of being run either “weekly” or “monthly.”
When we roll weekly allocations up to calendar months, some weeks span multiple calendar months. BigTime determines which month a given week falls into based on the number of calendar days in each straddled month. See the weekly allocations for January 2018 below as an example.
The first week in that period actually begins on 12/31/17. In that week, six out of seven calendar days fall in January 2018—so that’s the month we’ll place those weekly allocations into for reporting purposes. In other words, we’ll shift a given week into the following calendar month if there are at least four calendar days in that subsequent month — regardless of the date the week “starts” in.
Setting your allocation period is just another option to customize your BigTime experience, so you can have the details you need when you need them.
Resource allocation is available to Premier users. If you currently have a Premier account, then refer to this article for step-by-step instruction to access it in BigTime. Existing Pro users can get a free 14-day trial. To find learn more contact your sales representative or email us at [email protected].