Good utilization is the hallmark of a well-run agency or professional services team. When your team is consistently busy delivering work (and not so busy that they burn out), you can hire reliably and invest in your business.
(What is resource utilization? Define resource utilization in this glossary of the only 25 project management and financial terms you need to know.)
Hopefully, you already know your team’s utilization. But if you’re calculating it manually or using a separate tool, you’re wasting valuable time that could be spent billing hours … or selling the next engagement.
Enter Mavenlink’s newly improved Utilization Report. It equips you with the data you need in order to understand how your business is operating in real time.
Knowing your team’s utilization metrics helps you say “yes” to new projects, gives insight into staffing needs, and showcases employee performance. With the Utilization Report, you can see how your scheduled utilization stacks up against actual utilization. Understanding where and how your estimates went right or wrong can help inform future project estimates when it comes to scheduling time. The real-time nature of this report also allows you to catch these variances earlier in the project timeline, which can give you time to proactively adjust the schedule and your client’s expectations if, for example, your team is burning through more hours than were originally estimated.
The Utilization Report also highlights team member’s billable hours, making it easy to see total hours allocated for a project, and within those hours, which were billable and how many of those billable hours were tracked.
For more detail into scheduled, actual, and billable hours, you can expand by individual team member to see how much time they are spending per project, or you can expand by project to get details on hours burned and by who. Use additional filtering features to view hours by roles, project group, or date range.
Mavenlink’s Utilization Report lets you understand one of your most important metrics without the need for spreadsheets or expensive BI tools. It’s available to Mavenlink Premier Account Administrators and their users with viewing access to reports. If you aren’t already using Mavenlink, request a complimentary demo and we’ll be happy to show you what the Utilization Report can do.