Resource Allocation in BigTime
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Take the guesswork out of business planning with resource allocation. This tool will help you manage multiple projects and staffers efficiently and effectively. With resource allocation, you can:
- Plan for future work,
- Anticipate monthly revenue, and
- Get summary and detailed reporting.
Resource allocation helps you keep a close pulse on your business. That way, you can stay organized, hit deadlines, and keep your staffers busy, and, consequently, engaged.
In this article, we’ll explain what resource allocation can do for you, and how to access it in BigTime. We’ll also answer some frequently asked questions at the end.
- Allocate budgets by week or month, and easily shift allocations—without having to re-enter your data—if changes occur. Allocating budgets helps you plan for future work and use your resources efficiently over time.
- Make key business decisions. Can you take on another project? Do you need to hire more people? Do you need to shuffle staffers around to get the job done? You’ll have data at your fingertips to answer these questions.
- Project revenue. Find out which months you’ll be cashflow positive. Or learn which staffers are bringing in the most revenue during the next three months. You can make hourly projections based on your staffer’s hourly billing rate. Or fixed fee projections based on the fixed amount that’ll be billed to the client.
- Run reports at both the weekly or monthly level.
- Use your staffers effectively. See which staffers are being over or under utilized, and adjust hourly allocations accordingly.
How to Access Resource Allocation
Now let’s learn how to access resource allocation:
- Go to My Company...Project List to access your list of projects.
- Select a project from your list of projects.
- Click Tasks on the project dashboard navigation menu.
- Click Allocations.
If you’re new to resource allocations, you’ll see a screen that looks like this:
NOTE: Task-related information from the Task Editor will populate into your “allocation editor” window.
- Click Create Allocations when you’re ready to create allocations, and you’ll be automatically directed to a window that’ll let you create and edit allocations. If you’ve previously used resource allocations, click Edit Allocation.
Now you’re ready to enter or edit allocations for your project. Click here to find out more about using the resource allocation editor in BigTime.
- Who can access resource allocation?
Firms with a Premier subscription can access resource allocation. Click here to learn more about Premier.
However, if you’re an existing Pro user you can get a free 14-day trial to see if resource allocation fits your business needs. To find out more, contact your sales representative or email firstname.lastname@example.org.
- How do I know if resource allocation is right for me?
Managing multiple projects and staffers is tough. There are many moving parts and you need to make sure you’re planning effectively to know if you have the resources to get the job done or if you’ve got the capacity to take on more work.
That’s where resource allocation comes in: it’ll give you the information you need at-a-glance so you can communicate with clients and make informed business decisions.
- How often should I use resource allocation?
Resource allocation is intended to be a source of information you can turn to and use on a regular basis. That said, we encourage users to think of resource allocation as a living document to edit and adjust over time.
Need more details? Once you understand the basics, the articles below will take you a little deeper.