Money and time management is very crucial in any business people, especially for the executive officer. Most of the time they do not have proper method to keep tracking the ongoing project until it is too late. The manager may able to count the amount of time from certain project or task, but most of them are failed to know the effectiveness of a worker or learn from previous project that has similarity to acquire some reference on the effectiveness of the work that is perform. Hiring an employee to track and monitoring time management effectiveness is often consider a waste of time and increase the cost.
Time is money
These days the motto “time is money” is the summary of time and money management, and it is connected with how good is the time that is used in many different fields such as employee time sheets, resources, time tracking on the project, future projection, along with the detail of time data that is use by the employees for the project.
Increasing the profit
Improving your business profitability is related in the ability to focusing on getting those data as fast as you can, so you can apply an action to lessen the internal cost and increasing the profit. Understanding on how the employee using their time on their action to achieve the project goal, is a big improvement to achieve bigger profitability.
Other crucial factor to apply the good time management is the flexibility. It is important for the executives to able transferred their resource as fast as they can from a project to another without affecting the project’s time.