Time Tracking

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Actuals tracking provides a method for comparing labor effort and costs against the baseline or budget of projects. 

Labor financials, as well as R&D tax credits can be determined from either the forcecasted effort or the actual effor posted against projects. Many companies distribute the work load of capturing actuals to team members via time sheets. Time sheets are usually completed by team members, then approved and consolidated for data analysis. 

COMMON BUSINESS PROBLEMS

  • Project forecasts become less accurate over time
  • Resource forecasts do not represent the required work plan
  • There is no foundation for R&D tax credits
  • Forecasts and actuals are forced into buckets of 40 hours (or some other fixed quantity) to assist the cost accountants, so no accurate planning/estimating data result
  • Baseline, forecast and actual data is not available in common unit scales, or they exist in separate systems
  • Actuals, if they exist, tend to be difficult to manipulate into any kind of meaningful analysis
  • Time sheet data is frequently captured at the task/activity level, and tend to be too detailed to maintain accurately over time
  • Staff members do not comply with the estimating/tracking process due to lack of executive mandate or data use
 

      Download our white paper on Estimating Demand and Achieve Portfolio Excellence

Download our white paper on Estimating Demand and Achieve Portfolio Excellence

 

ResourceFirst offers time sheets that auto populate with current assignments. Time sheets support tracking by hours and/or percentages against projects, tasks and non-project work categories. Approved actuals automatically roll up against forecast for both manpower and financial baseline-forecast-actual reporting. Multiple baselines and scenarios can be captured for future recall and analysis against the current data.   

ResourceFirst Capabilities

  • Option for non-project or overhead work tracking
  • Option for task level assignment tracking
  • Export to financial system or legacy PPM
  • Multiple baseline, forecast & actual reporting options
  • Import actuals from another time system
  • Export all data to Excel in configurable pivot table format
  • Individual time sheets are pre-populated with project assignments
  • Compliance reporting is available to track incomplete data
  • Time sheet review and approve workflow
  • Auto approve option for submitted time sheets
  • Integrated notification options for time sheet workflow



ResourceFirst capabilities are typically grouped to support implementation needs – Learn more about Integrated Solution Blocks


 

PDWare is a leading provider of portfolio management software to organizations with goals toward optimizing strategic alignment, resource allocation and project execution. ResourceFirst, our flagship PPM product, provides the infrastructure for collecting credible operational data and delivering the business analytics to enable portfolio, program and resource management maturity. ResourceFirst is available for cloud and on-premise installations, providing first-line managers, executives, PMO and EPPMO functions the agility to meet fluctuating work priorities, schedules, demand and staff capacity.