If you look up “project management” success rate on google, you’re very likely to see articles with the following stats:
- Less than than one-third of all projects were successfully completed on time and on budget last year.
- For every $1 billion invested in the United States, $122 million (around 12%) was wasted due to lacking project performance.
Yet, 97% of organizations believe project management is critical to business performance and organizational success. So, how can something so important to an organization see such poor success rates?
The answer lies in this survey conducted by TheAccessGroup. Businesses listed “capturing time/costs against projects” as their biggest project management challenge. Lack of real-time visibility into WIP and other project data makes it hard for project managers to adequately understand resource utilization or make informed decisions about forecasting, both of which are required for the team to meet project milestones.
We decided to take it head-on by continuously investing in intuitive interfaces. Our latest update brings these capabilities to more users through our advanced CloudClock. In a traditional time clock kiosk, employees usually punch in and out and then supervisors manually allocate those hours to projects outside the kiosk, adding additional overhead and potential errors. This blocks project managers from being able to make informed decisions in real-time which often negatively impacted project delivery and forecasting.
Now, project users can record time against projects and tasks they’re assigned to right from their intelligent CloudClock. While this capability already exists on our web and mobile app, project managers can reliably and easily see time captured against projects, streamline the process, improve accuracy, and provide real-time actionable insights for employees set up on a kiosk as well. Keep the reins on your projects by adjusting resources as necessary and tracking estimates vs. actuals on-the-fly. You now have one more way in which you can make sure projects are always on-time and under-budget.
Interested in learning more? Contact us here.