Project Time Tracking Key Terms

Learn about the key elements in project time tracking

All businesses tackle a number of projects in order to maintain efficiency in the workplace and create new ways to serve customers. Projects need to be managed for tracking time and billing. This can be done with many different time tracking solutions, including time cards, task lists and various progress reports. Effective project time tracking enables a business to keep employees on task and working toward meeting project goals for fast and successful results.

 

Attendance management

Attendance management is the process of managing the presence of employees in the work place. This helps to determine ways to reduce losses due to employee downtime.
Try: Benefits Interface gives an overview of attendance management, what causes employee absenteeism and how attendance management works to reduce unnecessary absenteeism.

Billable hours

Billable hours is a process of time tracking for employees that have no set hours. The use of billable hours is common use for lawyers, consultants and other professional services.
Try: Replicon provides information on tracking and invoicing billable hours to make professionals using this system more accountable for the work they do.

Electronic time sheet

An electronic time sheet is a system of time tracking for employees and specific projects. Instead of using traditional time cards, an electronic time sheet is a software program that records all necessary information such as time in/time out, price per hour and other information about the project.
Try: Electronic time sheets can be created through traditional spreadsheet programs, such as Microsoft Excel, or a company can use electronic time sheet software, such as Standard Time, for additional project management features.

Project costing

Project costing is one element of project time tracking. Project cost management helps to regulate the cost of employees and the cost of the project as a whole.
Try: Entrepreneur Magazine provides tips on how to keep projects profitable using project costing systems.

Task

A task is a specific job assigned to one or more employees working on a project. Many project time tracking systems use a task scheduler to track the time an employee spends working on a project.
Try: The California Polytechnical Institute provides a manual on project management that includes information on assigning and tracking tasks throughout a single project.

Expense report

An expense report is a single report that includes all of the purchases and money paid out while an employee is working on a project.
Try: Expense Report Forms provides an example of a common expense report an employee would submit for expenses while working on a project.

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