Project Management Tools: Time and Money

Effective project management isn’t just about planning and executing; it also involves meticulous time tracking, resource management, and financial oversight. The third article in our four-part series on Project Management Tools explores the best-in-class tools available to help manage time, allocate resources, and handle budgeting.

If you missed the earlier articles in the series, check out our comprehensive lists of tools to assist with Project and Task Planning and Managing Communication and Documentation.

Stay tuned for the final part of our series, where we will explore Visual Tools used in project management.

Time Tracking and Worklogs

Microsoft Project (paid plans, 30-day free trial)

  • Overview: A robust project management suite including sophisticated time-tracking features, ideal for detailed project scheduling and time management.
  • What sets it apart: Comprehensive integration with Microsoft’s suite of tools.

Harvest (free and paid plans)

  • Overview: A simple yet powerful approach to time-tracking and reporting, focusing on ease of use and efficiency.
  • What sets it apart: Features include time and expense tracking, invoicing, and powerful integrations with popular project management tools.

Toggl (free and paid plans)

  • Overview: An intuitive and user-friendly time-tracking tool perfect for teams and individuals.
  • What sets it apart: With its one-click timers and reminders, it helps users stay on track with minimal effort.

Time Doctor (paid plans, 14-day free trial)

  • Overview: A tool designed for detailed tracking, offering features like screenshots and activity level monitoring.
  • What sets it apart: Robust tracking capabilities, including web and app usage monitoring, make it ideal for managing remote or distributed teams.

Clockify (free)

  • Overview: A free, straightforward time-tracking tool suitable for teams of all sizes, offering unlimited users and projects.
  • What sets it apart: Its simplicity and scalability make it an excellent choice for growing teams needing a basic time-tracking solution.

Hubstaff (paid plans, 14-day free trial)

  • Overview: A time-tracking app with features including GPS tracking.
  • Key Feature: Its location-based tracking and geofencing capabilities are perfect for managing field or remote teams.

Resource Management and Scheduling

Float (paid plans, 30-day free trial)

  • Overview: A resource management app offering a visually intuitive scheduling and capacity planning interface.
  • Key Feature: Easy drag-and-drop scheduling and team availability tracking.

Resource Guru (paid plans, 30-day free trial)

  • Overview: A resource-scheduling tool featuring a user-friendly calendar view.
  • What sets it apart: Features like clash management ensure efficient use of resources without overbooking.

Smartsheet (free and paid plans, 30-day free trial)

  • Overview: A versatile tool that combines resource management with extensive work automation and integration capabilities.
  • What sets it apart: Its ability to connect different aspects of project management in one platform.

Teamdeck (free and paid plans, 7-day free trial)

  • Overview: A comprehensive resource and workforce management solution, including integrated leave management and availability tracking.
  • What sets it apart: Its balanced resource scheduling and time-tracking approach makes it versatile for various team sizes.

Budgeting and Finance

QuickBooks (paid plans, 30-day free trial)

  • Overview: A well-known accounting software widely used by small to medium-sized businesses. It offers various financial tools, including invoicing, expense tracking, and detailed financial reporting.
  • What sets it apart: Ease of use, comprehensive financial reporting, and integration capabilities with numerous business applications.

FreshBooks (paid plans, 30-day free trial)

  • Overview: An intuitive and straightforward accounting solution focused on streamlining invoicing, expense tracking, and time-tracking.
  • What sets it apart: Known for its user-friendly interface and excellent customer support, it simplifies accounting tasks for non-accountants.

Xero (paid plans, 30-day free trial)

  • Overview: A powerful online accounting software designed for small to medium-sized businesses.
  • What sets it apart: It excels in providing real-time financial data and has comprehensive features for managing invoices, bank reconciliation, and financial reporting.

Wave (free, with paid add-ons)

  • Overview: With free accounting, invoicing, and receipt scanning, it’s targeted at freelancers and small businesses.
  • What sets it apart: Its cost-free model provides small businesses with a competent and uncomplicated financial management tool.

ZohoBooks (free and paid plans)

  • Overview: Part of the Zoho suite of business applications, providing smart accounting solutions with automation.
  • What sets it apart: Its deep integration with other Zoho apps and automated workflows make it a strong contender for businesses looking for an all-in-one business solution.

Conclusion

Choosing the right tools for time tracking, resource management, and budgeting can transform how you manage projects, ensuring efficiency and financial health. As with any tool, evaluating and picking ones that align with your specific project needs is crucial.

We help businesses manage projects to significantly impact their success and growth. When you’re ready to put your project in the hands of a trusted professional organization, contact us to learn more about working together.

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