Blog post November

Winning a new project is an exciting event for any business. More sales, more work and improved cash flow are key objectives of most businesses. However, all those aspirations could turn to disaster if the projects aren’t managed properly. People taking more time to complete their tasks, documents scattered all over the place, ineffective communication, hidden costs that suddenly appear and the profit that was predicted, are all soon gone.

We don’t want that to happen to you! At ISO Certification Experts we successfully manage all of our projects and we’d like to share with you how you can also achieve effective project management for your business!

TeamworkPM for Project Management

Since 2013, ISO Certification Experts has been working together with Teamwork.com by using the product “TeamworkPM” as our project management software. It offers many features that we find really useful in simplifying our processes and helping us keep track of our projects’ progress. Here are some features that have helped
us significantly:

People

There are four categories of people in TeamworkPM:

  1. Site Owner;
  2. Administrator;
  3. Collaborators; and
  4. Contact.

Each of them has their own access and limitations. The Site owner, who is also the subscriber, has access to all features. The Site owner can also grant or limit access to a certain person. For example, granting access to a particular project without giving access to another project. This is useful when you’re inviting a contractor, external people, or even your client to collaborate on the project.

Another function is that you can allocate tasks or subtasks to one person or multiple people. Therefore, you know who owns a task or subtask, whether it’s overdue, or if it’s become a bottleneck to the next tasks.

TeamworkPM for Project Management

Project Tasks Window

Companies

When it comes to managing multiple projects at once, it’s recommended to always have only one single source of truth. With the “companies” function, it allows you to allocate your tasks/projects to a particular client company. Inside their menu, there are features that allow you to create milestones for the projects, internal messaging, attaching files, logging time, and billing. You can always find files or information that you need for a particular client in no time.

In addition, you can have multiple projects for each company. Thus, all work you do for a particular client, can be found in one place and is readily available for historical comparison and future planning.

TeamworkPM for Project Management

Project Overview Window

Time and billing

Another important feature in this software is related to timesheets and billing. On a project, it’s often common that people will take more time than was estimated for, therefore, increasing the cost and lowering the project margin.

With the time feature in TeamworkPM, you can enter the estimated time to your projects or tasks based on your initial project calculations. This is important information to the person who owns the task, to know the specific time that they need to achieve in order to make the project profitable.

When a person is working on a project or task, they can enter their timesheet against the specific task and, thus, provide the real time spent on a project or task, which can be easily compared to the task/project estimated time.

The time entered by staff can then be allocated to a specific invoice. This provides clarity on how much time has been spent vs dollars billed. You can also assign a dollar figure for your staff hourly rates so that you know how much time and cost has been spent on a particular invoice. However, if the information is confidential, it is advised to hide the figure and do the calculation in a separate spreadsheet or in your accounting software.

TeamworkPM for Project Management

Logging Time Tab

Tags and Reporting

The last but not least features that have helped our business are tags and reporting. With these features you can assign tags to tasks and subtasks that belong to the same project code. It then helps with the reporting feature where you can filter “time logged on tasks with these tags”. In addition to help to monitor and control time and costs spent on a task or a project, the time logged then can be exported to a spreadsheet for further analysis or to a pdf file to be attached with your invoice (if you charge your client on an hourly basis and they require proof of what’s been done).

Peter Drucker once said, “You cannot manage what you cannot measure”. The TeamworkPM software with all of its features provides exactly what is needed for the measurement part.

So, what are you waiting for? To start using TeamworkPM, check out this link.

About the author

Graduate Accountant at ISO Certification Experts | Website

Edward looks after all the financial aspects for ISO Certification Experts. He has a Master's in Accounting and is also currently studying for his CPA.