1. Project Leaders Become Aware of Manpower Shortages.
Resource Management deals with loading the right amount of materials and man-hours demanded for an undertaking. As the project progresses, it runs the risk of working under the assumption that all the resources loaded as per plan are always available.
If monitoring is done on a bi-weekly or monthly basis, the initial signs of slippage in manpower resources are overlooked. They become noticeable only when they have already created a larger gap in the original plans.
2. It Becomes Possible to Shift Tasks in Order to Level Manpower.
In noticing the early signs of slacking by way of weekly time tracking, the project manager can take proactive actions by considering the degree of slack allowance. He or she can smooth out the distribution of manpower resources by shifting tasks assignments. Scant resources entail leveling of manpower availability to activities that require completion at the right time particularly if they are linked to other tasks.
3. Tracking Time on the go Keeps the Project Manager in the Know.
A weekly schedule of hours worked allows for easier monitoring to determine if the cost and time budgets are working out as planned. The events that transpired during the week are easier to recall as they are still fresh in the project leader’s mind. The matters of spotting problems in its early stages are easier to act on or decide upon, since there is only a week of time, costs and transactions to account for.
4. Quantitative Measurements of Short-Term Variability Allows for Greater Flexibility.
Increase in prices, shortages of supply, multiple stakeholder requirements and other aspects that require quantitative measurements are easier to address or comply with. Due to the high-degree of competition faced by most businesses, different stakeholders are easily agitated as they wonder if the outcome of the project can still measure–up. In having a weekly time tracking system, quantitative data analysis that requires actual time measurement can be easily accomplished.
Therefore, developing strategic adjustments, re-allocating resources, changing estimates or even decisions on which directions the project should go are easier to visualize and evaluate.