By implementing timekeeping solutions for costing, organizations obtain valuable insight into project profitability. Project-oriented timekeeping data is also used to bid on future projects, stay within budgeted costs, allocate appropriate resources, and track projects already under way. These solutions deliver more than just attendance tracking systems. They provide tools for understanding the impact of time and resources on project profitability.
rate through 2005 Why Traditional Project Costing Methods Fail Traditional timekeeping processes require time clocks, paper time cards, and other clerical procedures to capture and analyze labor data. Some companies use paper and spreadsheet programs to track costs and time spent on various projects, but these methods have proven to be problematic. The data is often incomplete and/or incorrect, and most manual methods require extensive man-hours to input, filter, and organize the data. Additionally,