Peter Drucker the management Guru’s most famous remarks “ you can’t improve it , if you can’t measure it “ simply means. Whatever needs to be improved should be measurable which in our case is profit or productivity.
With smart fixation of billing rates along with other inputs, EFF Factor generates a budget for the year with the desired profit goal. This in turn gives a confirmation of reasonableness of billing rates which can be used for budgeting of projects. Get an ongoing reconciliation between budget and actuals with person wise and project wise breakup for better analysis. In fact, it displays the instant impact of every action and inaction by any person on the profit of the company.
Are you delegating work to the right people with the profit goal in mind? Why wait till the end of the project to analyze profitability?
Project wise or person wise analysis of performance and deviations helps fix responsibilities – good for incentives schemes
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