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When you start with a project, the initial task is to have a top-level plan. Once that is done, you often move on to preparing the detailed list of activities and incorporate them into your project plan. Now comes the part were resources are allocated to these activities. During the course of your project, modifications to the activities and resources can happen on a regular basis. Often, one resource will be working on more than one project and tracking of time spent on different activities is vital in many ways.

When it comes to a project manager, it is important to know the hours the resource is putting on different activities. Over a period, the accurate reporting of time by the resource helps the project manager to understand the performance and the average time a resource takes to complete a particular type of activity. This information will be extremely useful for the estimation for the next projects, especially if the activities are similar in nature.

The time spent on activities will also come in handy when there is a need for prioritizing an activity or project over another. More over, the proper time entry enables the project manager to see that the time is not exceeding the estimated time, and well in advance mitigate the risks.

Effective time tracking helps also the resources, in order to keep track of their normal work time as well as the overtime they have put in. Without additional steps human resource personal could check the overtime of the resource and compensate for that.
Resources can view their entered time in daily, weekly and Monthly formats. At the end of the month they can submit the time reports to the managers. Once the time report is submitted, the entered time will be locked so further changes are prevented.

Managers and administrators can go through the various reports and monitor the time for various purposes. The combination of effective project planning, resource allocation to activities and tracking of time in Project Coordinator add a lot of value for organizations that are managing multiple projects and resources.
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12 Things to Remember in Life

New Report Reveals the True Impact of Social Media Marketing for Business

The way social networks have impacted our personal and professional lives is far greater than most of us could have anticipated. While we were battling with our friends over getting cut from their top friends list on their Myspace profile, we couldn’t have imagined the impact of social media today. The evolution of social networks in the past 10 or even 5 years has been truly remarkable.
Social Media Examiner’s 2015 Social Media Marketing Industry Report holds valuable insight into how marketers are incorporating social media, how much time they’re spending and what is on the horizon.
With 92% of marketers reporting that social media is important to their business, it’s clear that marketers believe social media holds weight, but what is the true impact on their business?
Top 5 Benefits of Social Media Marketing
The 3,700 marketers surveyed as part of this report had a wide range of experience and goals for social media. However, the actual impact that social media had on their business can be broken down into 5 easy to understand benefits.
#1 – Increased Exposure
With a whopping 91%, increased exposure was the top benefit that marketers participating in this report have seen from deploying social media marketing efforts. Many of the respondents stated that as little as 6 hours per week invested in social media created an increase in exposure.
Social media marketing presents a unique opportunity for companies to stay top of mind with current customers and get on the radar of new customers on their preferred platforms.
#2 – Increased Traffic
70% of marketers found that social media activities increased traffic to their website while 75% of businesses engaging in social media activities for a year or more reported an even bigger increase in traffic.
Encouraging social media users to leave a social media platform and visit your website is no easy undertaking. A solid mix of engaging content and well formulated ads with a compelling call to action can help encourage consumers to visit your web properties.
#3 – Developed Loyal Fans
Not surprisingly, B2C marketers (73%) were more likely to develop a loyal fan base than B2B marketers (63%).
It is no mystery that most social media users engage on social platforms for personal needs first. B2B marketing often involves multiple decision makers at different stages in the purchasing journey. Fortunately, social platforms like LinkedIn and Facebook are beginning to make it easier for marketers to target audiences based on interests, job titles and demographics. This opens the door for B2B marketers to segment individual messages based on need.
#4 – Provided Marketplace Insight
68% of marketers felt that social media provided market insight that they did not previously have or reaffirmed what they already knew.
Social media enables you to see your consumers in their true habitat. It is easy to uncover who else they interact with, what their favorite movies or tv shows are, where they work, the list goes on and on.
#5 – Generated Leads
Over 50% of marketers who have been utilizing social media for over a year were generating leads through social media.
Of all the benefits in the top five list, this one has the largest impact on the bottom line. In order to generate qualified leads through social media, your community has to trust you, be engaged and have a need for what it is that you offer.
What other benefits made the top ten list?
Improved Search Rankings – 58%
Grown Business Partnerships – 55%
Established Thought Leadership – 55%
Improved Sales – 51%
Reduced Marketing Expenses – 50%
Additional Report Must-Knows
Top 3 Most Important Social Platforms For Marketers
Facebook – 52%
LinkedIn – 21%
Twitter – 12%
B2C Vs B2B: Platform Breakdown
B2C and B2B marketers may be using the same social media platforms, but their efforts differ between platforms and which they consider to be the most important.

Investing in Paid Social
The vast majority of marketers surveyed (84%) said that they use Facebook Ads , with Google ads in at a cool 41% and LinkedIn ads at 14%.

Looking for More Social Media Insights?
To learn more about how your marketing peers are performing on the top social platforms and what is on the horizon for 2015, download the full report from Social Media Examiner.
A primary takeaway from this report is that many marketers are finally beginning to justify time and resources invested on social media marketing because they’re finally able to quantify a return based on objectives.
What results from this survey surprised you the most?
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How to Work Smart, Not Hard

Prioritize
Assess everything that needs to be done. Before you plunge into something headfirst, remember that enthusiasm needs to be tempered with wisdom. Look over every aspect of the job, and allow yourself ample "pondering time" so that you can be sure that every detail is accomplished on time and accurately.

Make an outline. Whether it's in your head or on paper, you should have a checklist in mind and follow it in order. You don't want to repeat steps, duplicate the efforts of others, make mistakes or forget anything.

Learn to say no. Avoid over-scheduling yourself and be realistic about what you can accomplish in a single day. Sometimes you just have to cut yourself off because in most professions, there is almost always something that could be done.

Limit your goals. Try to avoid multi-tasking because you often get less done since your brain is switching back and forth between tasks. Pick one thing to work on and put your best effort into that until it is accomplished. Set a time limit for when you stop working on the task at hand and take a rest.

Control clients by communicating properly. Make sure your clients will understand what the normal turnaround time will be for a project. Do not be influenced by their insistence that their job requires a big rush. Most businesses have more than one client, yet many clients forget that their job is not the only one you're working on.
Give one to three choices - never more. Handing a swatch book to a client and saying, "Tell me which colors you are interested in" is deadly. Too many choices will cause horrible delays as the customer peruses ALL possibilities and later tends to second-guess every decision. Instead, say things like, "Do you like this blue or this green better?"

Never accept a bad job. You know when a job is going to be great. A client or boss who pressures you into areas where you are not comfortable, either because it is an unreasonable expectation or because it's outside your scope, needs to be made immediately aware of your discomfort with the job as proposed. If you are self-employed, declining a job like this is much smarter even though it's hard to let money go.

Re-bid if necessary. Don't accept so many changes that you end up doing a much more complicated or expensive job than you bid for. When you realize you're into new territory, stop work and draw up a re-bid, showing the entire job as originally envisioned and overlay the scope of the new work. Let the client know it will cost $x more than the original bid to proceed. It's the client's decision how much to pay. How smart you want to be while you're working for them is your decision.

Consider your materials. Don't take shortcuts on the quality of your materials. Cheap materials or tools are harder to work with because they aren't as sturdy or nice. Trying to save a few bucks, but spending an extra hour or two because those cheap things didn't install properly doesn't make any sense.

Evaluate your methods. You want them to be as efficient as possible. Do your work when you have no distractions surrounding you. Try to do things in one batches rather than one at a time. You want your efficiency to be maximized as much as possible.

Look for shortcuts. This does NOT mean taking the easiest method for the sake of it or being lazy. For example, if you respond to numerous e-mails per day and answer the same questions again and again, save your responses. When those questions come up, you can cut and paste your canned response. You might have to make minor edits, but the bulk of it will already be written.

Delegate to the right people at the right times. Make sure your team is well-ordered. If one person is faster, put him or her on the part of your task that will take longest. If one person is more skilled and accurate, put him or her on the part of the task that is most critical.

Avoid procrastination. Every time you surf the net or needlessly check e-mail at work, your day becomes longer. Push yourself hard to do work when it's time to do work and enjoy these activities once you're done for the day.

Be flexible. Your day will not always go as planned. Be open to trying new methods and doing new things.

Rest. You should ideally be getting eight hours of sleep every night. You can certainly pull continuous 12 hour days at work, but it's not sustainable. After a certain point, your body becomes tired and your mind wears down, leading to more frequent lapses in concentration and careless mistakes.

Periodic breaks. Even at the office, you need to allow time for your mind to regroup and recharge. Push yourself hard for the first 50 minutes of every hour and then reward yourself with a 10 minute break.

Recognize the point of 'diminishing returns.' The above steps do not imply that you should work yourself to the point of exhaustion. You need to protect your health and the integrity of your job. Working yourself to a frazzle constantly makes you prone to mistakes. When you're so tired that you realize it's taking you twice or three times longer to do a job than normal, you need to call it a day. Rest at least a few hours and come back fresher, so that you can be strong at the end of the job. Learn how to power nap. Courtesy: Wiki
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Why do you need to work hard and smart at the same time
We’ve often heard that it is always better to work smart than to work hard. But what is the difference? Do hard workers not work smartly? Or do smart people not work hard? All through school and college we’ve been told that it is important to burn the midnight oil in order to achieve something. You need to toil and sweat if you want to reach your goals. Then why suddenly are we being told to work smart instead of working hard? Being smart is about making the right decisions. If you make the correct choices and associate with the right people, you’ll move up the ladder faster. However, working hard and working smart are two sides of the same coin. Here’s why

Why is hard work important?

Only when you are aware of how a certain task can be completed can you work smartly through it. All smart work has its foundation in hard work. To evolve into a smart worker, you need to focus on each and every step in your way. Every successful individual will vouch for the fact that they put tons of hard work to achieve their goals. No matter how hard you work, at the end of the day, there is always room for improvement. Hard work is imperative to remain focused on the task at hand. Every employee begins a project or a task by putting in his hard work. When he starts figuring out the shortcuts and strategies along the way, his hard work gradually grows into smart work. Relentless effort combined with an intelligent working technique will help you get closer to the success you desire.
Why is smart work important?

While hard work is the cornerstone of prosperity, simply working round the clock doesn’t ensure progress in the long run. If that were the case, an individual who works two shifts a day would be richer than a businessman who barely puts in five hours of work in a day. Smart work is when we map out the route of the job at hand and carefully plan how to go about it. It requires being prepared for the obstacles that you might encounter in the future and the different methods that can be used to overcome those obstacles. Smart work is the modern version of survival of the fittest. Those who work wisely get recognised and those who don’t get left behind.

To sum it up, one must remember at all times that there are no shortcuts to success. You need to work smart as well as hard if you want to reach your goals. While hard work requires you to pursue your goals under all circumstances, smart work saves a lot of time and allows you to be more organised. With plenty of competition in every field, working hard as well as smart is the need of the hour.
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13 Tips for Negotiating With Suppliers

1. Never Compromise on Communication

I suggest starting with and maintaining solid communications. Start well, and it'll be great leverage in future negotiations. By being attentive and responsive to issues, entrepreneurs can build a rapport with the supplier, and gain the upper hand to use during a future meeting.

2. Research the Actual Costs

There's no better position to be in when negotiating a price than to know what it cost the guy on the other side of the table to make what he's selling. By figuring out the cost to make the product, you then have a much better idea of how much wiggle room you have in regards to negotiating.

3. Know the Lingo

As the "supplier" of credit card processing services, I know the best clients are the ones who understand the industry basics or are open to learning them with my guidance, and therefore become their own best advocate. Talk to different providers and learn the jargon so you sound like you know what you're talking about (or actually do!), and the vendors will treat with respect.

4. Pitch the Supplier's Dream

Think like a supplier: They have the product and want to sell as much of it as possible. Present yourself as a resource with a proven track record of selling to the target industry. Understand that money talks, and a supplier that sees dollar signs will make a partnership with you. The trust and credibility you build will determine the terms of your partnership and favorable rates.

5. Discover Areas of Mutual Gain

Spend time to discover the supplier's goals to increase the mutual gains achieved in the agreement. For example, if the supplier won't budge on price, focus instead on other areas of the agreement, such as the amount of the down payment, the length and scope of the warranty, a discount for purchasing in bulk, and other areas of interest that might provide even greater benefits for both parties.

6. Quote Multiple Suppliers

My best tip for negotiating with a supplier is to always get the service quoted by at least three other suppliers. I let the supplier know that I am getting quotes and will go with the best one available. This creates some competitive pricing.

7. Play the High/Low Quality Game

Do your research and have a target dollar amount that you want to pay. Tell the supplier that you want order a very high quantity and get their price. Once you get the price, ask them how much for an amount less then what you want. Then tell them you want this many pieces and you're getting it cheaper from their competitor. Give a reasonable price that makes sense, and they will beat it.

8. Reference Their Customers

The best data you can get from a supplier is from their customers. Before you enter into any sort of negotiation, you should always ask the supplier to provide a list of customers you can reference for the type of product you want. Customers like to talk about products they are happy with, and more often than not, they will share their prices.

9. Angle Your Start-up Strategically

Find an angle that you can hit home on. Give your vendor a reason that you're the customer of choice for the goods or service. If they know you are not a one-hit wonder, and someone that can be a long-term, profitable relationship you'll be in a stronger position. Be sure to have the cash to pay your bill fast or on time. What vendor doesn't love that?

10. Have Your Deposit Available

If you want to create leverage with a supplier, be willing to make a deposit of 50 to 70 percent. The higher you go, the more your negotiating power is on the overall rate. At the end of the day suppliers are most concerned about getting paid. If you address this concern upfront by showing evidence you are easy to work with, you will have all the leverage you need to shape the negotiation.

11. Want It the Least

In most negotiations, the better deal will go to the person who wants it the least...or more specifically, appears to want it the least. Have backup suppliers ready in case of a deadlock. This gives you a peace of mind that will allow you to come across as more confident in any negotiation. Don't be afraid to walk away.

12. Help Them Save Money

Treating suppliers like partners is critical to a company's start-up's success. As much as possible, figure out how you can work with your suppliers to make their lives better, whether saving them money from their vendors or saving them time with your order. By understanding their business model, you can make orders in an efficient manner, which should lower costs for everyone.

13. Pass the Authority Around

Challenge the supplier to utilize the limits of their authority by asking them if they have the ability to make the decision that I want them to make. Doing this sincerely, while being extremely pleasant to deal with, has always rendered me the best pricing from the 100+ suppliers my company manages. Also, make sure your supplier knows they are not the only one that you're working with. I say that it's company policy to get three quotes of like-quality product, and clarify that even if they think they're a better quality than others, we have already batched them in the same quality group, so it just comes down to price.

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