Collecting Raw Project Data
Planning and creating estimates requires that you understand how people spend their time. Efficiency and process improvements benefit from time breakdowns as well. Any company that might be considering purchasing your firm will also want to see information on project and team efforts. You won't usually need to collect this data during the company startup or foothold stages, but it becomes important during the growth stage.
One common approach to collecting time-effort information is to buy a software package that tracks time per project per individual. Such packages generate reports to show the staff breakdown in different ways. Software consulting firms, agencies, and large companies often use these packages.