D o n’ t Wa s t e Yo u r T i m e
B y Tr a c k i n g I t
MICHAEL PARLER
CHIEF OF STRATEGY
WWW. P R P L . R S
@PRPLRCKSCSSRS...
Tr a d i n g Ti m e f o r M o n e y

Understanding the relationships between
time, money, productivity and value
To W h o m T h e s e C o n c e p t s A p p l y. . .
S A L A R I E D E M P LO Y E E S

MANAGERS

BUSINESS OWNERS

I N V E N...
T h e s e C o n c e p t s A r e N o t F o r. . .
REPETITIVE LABORERS

A PAT H E T I C

C LO C K WAT C H E R S

“BEAN COUNT...
The Classic Exchange

$
Renting your Time in
exchange for Money
JOB
JOB
Just Over Broke
An Incomplete Equation

Rate X Time = Earnings
An Incomplete Equation

Rate X Time = Earnings

but where is Productivity?
An Incomplete Equation

Rate X Time = Earnings

where is Value?
A Better Formula:

MONEY
OVER

TIME
A Better Formula:

MONEY
OVER

TIME
...more on this later
To d a y ’ s To p i c s : V a l u e & P o t e n t i a l

Download for Free: freshbooks.com/blog/2013/06/12/breakingthetime...
To d a y ’ s To p i c s : C o r p o r a t e C u l t u r e

Read & Laugh: dilbert.com
To d a y ’ s To p i c s : P r o d u c t i v i t y

David Allen: The Art of
Stress-Free Productivity
TEDxClaremontColleges
...
L e t’ s t a l k a b o u t

Ti m e
EVERYONE HAS

24 Hours / Day
168 Hours / Week. 728 Hours /
Month. 8760 Hours / Year.
A p p r o p r i a t e Ti m e
Management
N O T I M P O R TA N T

NOT URGENT

I: Fires
I M P O R TA N T

URGENT

II: Excellence

Crisis
Deadlines
Some Meetings

Pla...
Ti m e s h e e t s
Ti m e s h e e t s
A method for recording the
amount of a worker's time
spent on each job.
Ti m e s h e e t s
Advantages
-

Easy Payroll Processing

-

Visibility to Expenses

-

Future Budget Planning

-

Method ...
Ti m e s h e e t s
Advantages
-

Easy Payroll Processing

-

Visibility to Expenses

-

Future Budget Planning

-

Method ...
PAY R O L L
PROCESSING
PAY R O L L
PROCESSING

HUMAN
ERROR
BUDGET
PLANNING
BUDGET
PLANNING

HUMAN
ERROR
C O M PA N Y
EXPENSES
C O M PA N Y
EXPENSES

HUMAN
ERROR
HUMAN
ERROR
Inaccurate Repor ting
Since April 26, 1996

Dilbert / Scott Adams: dilbert.com/strips/comic/1996-04-26/
Cascading Issues
Under-perform / Overpaid

Project / Budget Overrun

Over-perform / Underpaid

Breakdown of Trust

Employe...
L e t’ s t a l k a b o u t

Va l u e
21st Century Economics

W h a t i s Wo r k i n
t o d a y’ s m a r k e t p l a c e ?
2 0 T H C E N T U RY ECO N O M I CS

2 1 s t C E N T U RY ECO N O M I CS

Localized Economy

Global Economy

-

Blue Colla...
T h e r e i s a Wa r o n Wo r k
T h e r e i s a Wa r o n Wo r k
Value is Ever y thing
Work in the 21st Century

Invention & Inspiration
Creation & Connectivity
Wo r k i n t h e 2 1 s t C e n t u r y
C A N YO U F I N D T H E WO R K?

Morning

Afternoon

Evening

Emails

Meetings

Lu...
Wo r k i n t h e 2 1 s t C e n t u r y
C A N YO U F I N D T H E WO R K?

Morning

Afternoon

Evening

Emails

Meetings

Lu...
Wo r k i n t h e 2 1 s t C e n t u r y
C A N YO U F I N D T H E WO R K?

Morning

Afternoon

Evening

Emails

Meetings

Lu...
Wo r k i n t h e 2 1 s t C e n t u r y
C A N YO U F I N D T H E WO R K?

Morning

Afternoon

Evening

Emails

Meetings

Lu...
G r e a t I d e a s Ta k e Z e r o H o u r s
C i t i l o g o b y Pa u l a S c h e r

Learn More: breezycreativedesign.com/2010/05/04/citi-logo-by-paula-scher/
C i t i l o g o b y Pa u l a S c h e r
How can a multi-billion dollar
organization base their
identity off of a second?
An...
Under valued Productivity
Since September 15, 1995

Dilbert / Scott Adams: dilbert.com/strips/comic/1995-09-15/
L e t’ s t a l k a b o u t

Productivity
Ti m e i s I n f i n i t e . Yo u r Ti m e i s N o t .

What do you do with your 24 hours?
Are your 24 hours productive?
W...
20th Century Concepts

Work

Life
Blurring the Lines

Work

Internet
Learning
Social Media
Networking
Creativity
Passion

Life
Productivity
Simple & Effective
“Flow” by Dr. Mihaly Csikszentmihalyi

Challenge

(mee-hy cheek-sent-mə-hy-ee)

Anxiety

Peak Performance

Flow Channel

A...
“ Wa l l y ”
“ Wa l l y ”

bored
apathetic
disengaged
just cruising
clock-watching
“ Wa l l y ”

No
Productivity
“ Wa l l y ”

Ti m e i s Wa s t e d
“Flow”
“Flow”
in the moment
present
in the zone
on a roll
wired in
in the groove
on fire
“Flow”
in the moment
present
in the zone
on a roll
wired in
in the groove
on fire

Time is Irrelevant
“Flow”
in the moment
present
in the zone
on a roll
wired in
in the groove
on fire

Time is Irrelevant
Productivity is Ever...
A c u l t u r e w i t h o u t Ti m e S h e e t s
will attract more talent who like
working in the Flow.
To u g h Q u e s t i o n s

CEO: “How do we measure productivity?”
COO: “How do we measure accountability?”
CFO: “How do w...
L e t’ s t a l k a b o u t

Money
Productivity
Clear Goals
Appropriate Engagement
D i re c t Fe e d b a c k
Peak Performance
Ever ything is a Project
E v e r y P r o j e c t h a s Va l u e
Pe r f o r m o n e v e r y P r o j e c t
Classical Project Management

Quality

Time

Budget
P r o j e c t M a n a g e m e n t i n D i f f e r e n t Te r m s

Quality

Time

Budget

Value

Productivity

Money
M e a s u r e m e n t To o l s F o r M a n a g e r s

Tr a c k i n g & A n a l y z i n g R e s o u r c e U s a g e
M e a s u r e m e n t To o l s F o r M a n a g e r s

Tr a c k i n g & A n a l y z i n g R e s o u r c e U s a g e
( . . ....
Example: Start-up Company XYZ
Project Manager

Graphic Designer

-

Project Oversight

-

Creative Concepts

-

Networking...
C o m p a n y X Y Z ’s Fi n a n c i a l s
Annual Labor Costs . . . . . $140,000
Overhead (~20%) . . . . . . . . $28,000
Gr...
C o m p a n y X Y Z ’s Fi n a n c i a l s
Annual Labor Costs . . . . . $140,000
Overhead (~20%) . . . . . . . . $28,000
Gr...
C o m p a n y X Y Z ’s Fi n a n c i a l s
Annual Labor Costs . . . . . $140,000
Overhead (~20%) . . . . . . . . $28,000
Gr...
Productivity Driving Growth
Productivity is the ratio of output to inputs in
production. It is a measure of efficiency.
Productivity Driving Growth
Productivity is the ratio of output to inputs in
production. It is a measure of efficiency.

I...
Productivity Driving Growth
Productivity is the ratio of output to inputs in
production. It is a measure of efficiency.

I...
Productivity is about
getting things done.
C o m p a n y X Y Z ’ s P r o j e c t Tr a c k
Jan
Project 1
Project 2
Project 3
Project 4
Project 5

Feb

Mar

Apr

May J...
“ M o n e y O v e r Ti m e”
Jan
Project 1
Project 2
Project 3
Project 4
Project 5

Feb

Mar

Apr

May Jun

Jul

Aug

$25,0...
“ M o n e y O v e r Ti m e”
Jan
Project 1
Project 2
Project 3
Project 4

Feb

Mar

Apr

May Jun

Jul

Aug

$25,000
$12,000...
“ M o n e y O v e r Ti m e”
Jan
Project 1
Project 2
Project 3
Project 4

Feb

Mar

Apr

May Jun

Jul

Aug

Sep

Oct

Nov D...
“ M o n e y O v e r Ti m e”
Jan
Project 1
Project 2
Project 3
Project 4

Feb

Mar

Apr

May Jun

Jul

Aug

Sep

Oct

Nov D...
“ M o n e y O v e r Ti m e”
Jan
Project 1
Project 2

Feb

Mar

Apr

May Jun

Project 5

Aug

$25,000
$12,000

Project 3
Pr...
“ M o n e y O v e r Ti m e”
Jan
Project 1
Project 2

Feb

Mar

Apr

May Jun

Project 5

Aug

$25,000
$12,000

Project 3
Pr...
“ M o n e y O v e r Ti m e”
Jan
Project 1
Project 2
Project 3

Feb

Mar

Apr

May Jun

Jul

Aug

Oct

$25,000
$12,000
$35,...
“ M o n e y O v e r Ti m e”
Jan
Project 1
Project 2

Feb

Mar

Apr

May Jun

Jul

Aug

Sep

Oct

$25,000
$12,000

Project ...
“ M o n e y O v e r Ti m e”
Jan
Project 1
Project 2

Feb

Mar

Apr

May Jun

Jul

Aug

Sep

Oct

Nov Dec

$25,000
$12,000
...
Productivity is about Deadlines.
Manage Deadlines.
N o t Ti m e .
Benchmarks
w i t h o u t Ti m e s h e e t s

Value

Productivity

Money
Analyze the Benchmarks

-

Value

Do his projects meet our
standard of excellence?

-

Does she operate in the best
intere...
Analyze the Benchmarks

-

Productivity

Is she meeting project deadlines?

-

Is he flexible and understanding
with sched...
Analyze the Benchmarks

-

Money

Is he generating an appropriate
amount of target revenue?

-

Is she compensated fairly ...
I d e n t i f y Yo u r O w n
Metrics for Success
A n a l y z e & L e v e r a g e Yo u r D a t a
“How can we improve?”
“What are our most profitable & successful services?”...
A n a l y z e & L e v e r a g e Yo u r D a t a

“Big Data” Concepts in
manageable chunks
A n a l y z e & L e v e r a g e Yo u r D a t a

“Big Data” Concepts in
manageable chunks
All without the use of
Timesheets...
Examples Close to Home
F i g 1 . P R P L’s G r o s s R e v e n u e

500,000,000%

In 2010, Purple, Rock, Scissors made
a d...
Wr a p p i n g I t U p
A t b e s t , t i m e t r a c k i n g c a n u n d e r - v a l u e y o u r p r o d u c t i v i t y.
...
In Closing

Dilbert / Scott Adams: dilbert.com/strips/comic/2008-08-31/
D o n’ t Wa s t e Yo u r T i m e
B y Tr a c k i n g I t
MICHAEL PARLER
CHIEF OF STRATEGY
WWW. P R P L . R S
@PRPLRCKSCSSRS...
Stop Wasting Time By Tracking It
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Understanding the relationships between time, money, productivity and value -- A keynote presentation for iSummit by Michael Parler, Chief Strategy Officer at Purple, Rock, Scissors.

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Stop Wasting Time By Tracking It

  1. 1. D o n’ t Wa s t e Yo u r T i m e B y Tr a c k i n g I t MICHAEL PARLER CHIEF OF STRATEGY WWW. P R P L . R S @PRPLRCKSCSSRS @MICHAELPARLER
  2. 2. Tr a d i n g Ti m e f o r M o n e y Understanding the relationships between time, money, productivity and value
  3. 3. To W h o m T h e s e C o n c e p t s A p p l y. . . S A L A R I E D E M P LO Y E E S MANAGERS BUSINESS OWNERS I N V E N T O R S & I N N O VAT O R S ENTREPRENEURS
  4. 4. T h e s e C o n c e p t s A r e N o t F o r. . . REPETITIVE LABORERS A PAT H E T I C C LO C K WAT C H E R S “BEAN COUNTERS” LUDDITES
  5. 5. The Classic Exchange $ Renting your Time in exchange for Money
  6. 6. JOB
  7. 7. JOB Just Over Broke
  8. 8. An Incomplete Equation Rate X Time = Earnings
  9. 9. An Incomplete Equation Rate X Time = Earnings but where is Productivity?
  10. 10. An Incomplete Equation Rate X Time = Earnings where is Value?
  11. 11. A Better Formula: MONEY OVER TIME
  12. 12. A Better Formula: MONEY OVER TIME ...more on this later
  13. 13. To d a y ’ s To p i c s : V a l u e & P o t e n t i a l Download for Free: freshbooks.com/blog/2013/06/12/breakingthetimebarrier/
  14. 14. To d a y ’ s To p i c s : C o r p o r a t e C u l t u r e Read & Laugh: dilbert.com
  15. 15. To d a y ’ s To p i c s : P r o d u c t i v i t y David Allen: The Art of Stress-Free Productivity TEDxClaremontColleges Wa t c h : y o u t u b e . c o m / w a t c h ? v = C H x h j D P K f b Y
  16. 16. L e t’ s t a l k a b o u t Ti m e
  17. 17. EVERYONE HAS 24 Hours / Day 168 Hours / Week. 728 Hours / Month. 8760 Hours / Year.
  18. 18. A p p r o p r i a t e Ti m e Management
  19. 19. N O T I M P O R TA N T NOT URGENT I: Fires I M P O R TA N T URGENT II: Excellence Crisis Deadlines Some Meetings Planning & Strategy Relationship Building Personal Development III: Deception IV: Escape & Waste Interruptions Some Emails Some Meetings Tr i v i a l M a t t e r s Time-Killers “Numbing Out” T h e E i s e n h o w e r M e t h o d : e n . w i k i p e d i a . o r g / w i k i / Ti m e _ m a n a g e m e n t
  20. 20. Ti m e s h e e t s
  21. 21. Ti m e s h e e t s A method for recording the amount of a worker's time spent on each job.
  22. 22. Ti m e s h e e t s Advantages - Easy Payroll Processing - Visibility to Expenses - Future Budget Planning - Method to Invoice Clients
  23. 23. Ti m e s h e e t s Advantages - Easy Payroll Processing - Visibility to Expenses - Future Budget Planning - Method to Invoice Clients Disadvantages - Repetitive - Stressful to Employees - Prone to Human Error - Perverse Incentives
  24. 24. PAY R O L L PROCESSING
  25. 25. PAY R O L L PROCESSING HUMAN ERROR
  26. 26. BUDGET PLANNING
  27. 27. BUDGET PLANNING HUMAN ERROR
  28. 28. C O M PA N Y EXPENSES
  29. 29. C O M PA N Y EXPENSES HUMAN ERROR
  30. 30. HUMAN ERROR
  31. 31. Inaccurate Repor ting Since April 26, 1996 Dilbert / Scott Adams: dilbert.com/strips/comic/1996-04-26/
  32. 32. Cascading Issues Under-perform / Overpaid Project / Budget Overrun Over-perform / Underpaid Breakdown of Trust Employee Timesheets Payroll & Invoices Clients Uncontrolled Costs Misrepresented Estimates Perverse Incentives Poor Justification of Value
  33. 33. L e t’ s t a l k a b o u t Va l u e
  34. 34. 21st Century Economics W h a t i s Wo r k i n t o d a y’ s m a r k e t p l a c e ?
  35. 35. 2 0 T H C E N T U RY ECO N O M I CS 2 1 s t C E N T U RY ECO N O M I CS Localized Economy Global Economy - Blue Collar & Manual Labor - White Collar / Green Collar - R e p e t i t i v e / M a n u a l Ta s k s - - Limitations of Local Resources Repetitive & Dangerous Jobs are Automated - Tr a d i t i o n a l E d u c a t i o n & Tr a i n i n g - Global Resources / Outsourcing - Te n u r e , P e n s i o n s , R e w a r d s f o r Investing Time - Commodification / Race to Zero - Rewards for Groundbreaking Ideas (Intellectual Property) - E m p l o y e e s Tr a d e S k i l l s & I d e a s for Value - E m p l o y e e s Tr a d e T i m e f o r M o n e y
  36. 36. T h e r e i s a Wa r o n Wo r k
  37. 37. T h e r e i s a Wa r o n Wo r k Value is Ever y thing
  38. 38. Work in the 21st Century Invention & Inspiration Creation & Connectivity
  39. 39. Wo r k i n t h e 2 1 s t C e n t u r y C A N YO U F I N D T H E WO R K? Morning Afternoon Evening Emails Meetings Lunch Inspiration Commute Youtube Breakfast Blogs Emails Twitter Dinner Google Commute Coffee Facebook Strategy Television Phone Calls Ideas Phone Calls Meetings Reports Wikipedia LinkedIn Planning Interruptions Analysis Ping-Pong Meetings Reflection
  40. 40. Wo r k i n t h e 2 1 s t C e n t u r y C A N YO U F I N D T H E WO R K? Morning Afternoon Evening Emails Meetings Lunch Inspiration Commute Youtube Breakfast Blogs Emails Twitter Dinner Google Commute Coffee Facebook Strategy Television Phone Calls Ideas Phone Calls Meetings Reports Wikipedia LinkedIn Planning Interruptions Analysis Ping-Pong Meetings Reflection What defines your productivity?
  41. 41. Wo r k i n t h e 2 1 s t C e n t u r y C A N YO U F I N D T H E WO R K? Morning Afternoon Evening Emails Meetings Lunch Inspiration Commute Youtube Breakfast Blogs Emails Twitter Dinner Google Commute Coffee Facebook Strategy Television Phone Calls Ideas Phone Calls Meetings Reports Wikipedia LinkedIn Planning Interruptions Analysis Ping-Pong Meetings Reflection What value do these activities provide?
  42. 42. Wo r k i n t h e 2 1 s t C e n t u r y C A N YO U F I N D T H E WO R K? Morning Afternoon Evening Emails Meetings Lunch Inspiration Commute Youtube Breakfast Blogs Emails Twitter Dinner Google Commute Coffee Facebook Strategy Television Phone Calls Ideas Phone Calls Meetings Reports Wikipedia LinkedIn Planning Interruptions Analysis Ping-Pong Meetings Reflection Why do we lie to ourselves by tracking time?
  43. 43. G r e a t I d e a s Ta k e Z e r o H o u r s
  44. 44. C i t i l o g o b y Pa u l a S c h e r Learn More: breezycreativedesign.com/2010/05/04/citi-logo-by-paula-scher/
  45. 45. C i t i l o g o b y Pa u l a S c h e r How can a multi-billion dollar organization base their identity off of a second? Answer: “it’s a second done in 34 years” Learn More: breezycreativedesign.com/2010/05/04/citi-logo-by-paula-scher/
  46. 46. Under valued Productivity Since September 15, 1995 Dilbert / Scott Adams: dilbert.com/strips/comic/1995-09-15/
  47. 47. L e t’ s t a l k a b o u t Productivity
  48. 48. Ti m e i s I n f i n i t e . Yo u r Ti m e i s N o t . What do you do with your 24 hours? Are your 24 hours productive? What is the value of your 24 hours?
  49. 49. 20th Century Concepts Work Life
  50. 50. Blurring the Lines Work Internet Learning Social Media Networking Creativity Passion Life
  51. 51. Productivity Simple & Effective
  52. 52. “Flow” by Dr. Mihaly Csikszentmihalyi Challenge (mee-hy cheek-sent-mə-hy-ee) Anxiety Peak Performance Flow Channel Apathy Boredom Skills David Maister: Dynamos: People who hate Time Sheets Cruisers & Losers: People who like Time Sheets Flow: en.wikipedia.org/wiki/Flow_(psycholog y)
  53. 53. “ Wa l l y ”
  54. 54. “ Wa l l y ” bored apathetic disengaged just cruising clock-watching
  55. 55. “ Wa l l y ” No Productivity
  56. 56. “ Wa l l y ” Ti m e i s Wa s t e d
  57. 57. “Flow”
  58. 58. “Flow” in the moment present in the zone on a roll wired in in the groove on fire
  59. 59. “Flow” in the moment present in the zone on a roll wired in in the groove on fire Time is Irrelevant
  60. 60. “Flow” in the moment present in the zone on a roll wired in in the groove on fire Time is Irrelevant Productivity is Everything
  61. 61. A c u l t u r e w i t h o u t Ti m e S h e e t s will attract more talent who like working in the Flow.
  62. 62. To u g h Q u e s t i o n s CEO: “How do we measure productivity?” COO: “How do we measure accountability?” CFO: “How do we measure profitability?”
  63. 63. L e t’ s t a l k a b o u t Money
  64. 64. Productivity
  65. 65. Clear Goals Appropriate Engagement D i re c t Fe e d b a c k
  66. 66. Peak Performance
  67. 67. Ever ything is a Project
  68. 68. E v e r y P r o j e c t h a s Va l u e
  69. 69. Pe r f o r m o n e v e r y P r o j e c t
  70. 70. Classical Project Management Quality Time Budget
  71. 71. P r o j e c t M a n a g e m e n t i n D i f f e r e n t Te r m s Quality Time Budget Value Productivity Money
  72. 72. M e a s u r e m e n t To o l s F o r M a n a g e r s Tr a c k i n g & A n a l y z i n g R e s o u r c e U s a g e
  73. 73. M e a s u r e m e n t To o l s F o r M a n a g e r s Tr a c k i n g & A n a l y z i n g R e s o u r c e U s a g e ( . . . y e s , I m e a n “m o n e y” )
  74. 74. Example: Start-up Company XYZ Project Manager Graphic Designer - Project Oversight - Creative Concepts - Networking / Biz Dev - Graphics & Assets - Client & Project Management - We b s i t e I n t e r f a c e s - Risk Analysis & Mediation - Print Material Content Writer Web Developer - Creative Concepts - We b s i t e D e v e l o p m e n t - Ads / Copywriting - Maintenance & Support - Social Media Management - General Office IT - Wr i t i n g P r o p o s a l s
  75. 75. C o m p a n y X Y Z ’s Fi n a n c i a l s Annual Labor Costs . . . . . $140,000 Overhead (~20%) . . . . . . . . $28,000 Gross Annual Costs . . . . . $168,000 Target Profit Margin . . . . . . . . . 20% Profit Value . . . . . . . . . . . . . $33,600 Annual Target . . . . . . . . . . . $201,600 Semi-Annual Target . . . . $100,800 Quarterly Target . . . . . . . . $50,400 Monthly Target . . . . . . . . . . $16,800
  76. 76. C o m p a n y X Y Z ’s Fi n a n c i a l s Annual Labor Costs . . . . . $140,000 Overhead (~20%) . . . . . . . . $28,000 Gross Annual Costs . . . . . $168,000 A Better Formula: MONEY OVER Target Profit Margin . . . . . . . . . 20% Profit Value . . . . . . . . . . . . . $33,600 Annual Target . . . . . . . . . . . $201,600 Semi-Annual Target . . . . $100,800 Quarterly Target . . . . . . . . $50,400 Monthly Target . . . . . . . . . . $16,800 TIME
  77. 77. C o m p a n y X Y Z ’s Fi n a n c i a l s Annual Labor Costs . . . . . $140,000 Overhead (~20%) . . . . . . . . $28,000 Gross Annual Costs . . . . . $168,000 A Better Formula: MONEY OVER Target Profit Margin . . . . . . . . . 20% Profit Value . . . . . . . . . . . . . $33,600 TIME ...without worrying about hours. Annual Target . . . . . . . . . . . $201,600 Semi-Annual Target . . . . $100,800 Quarterly Target . . . . . . . . $50,400 Monthly Target . . . . . . . . . . $16,800 Just deadlines.
  78. 78. Productivity Driving Growth Productivity is the ratio of output to inputs in production. It is a measure of efficiency.
  79. 79. Productivity Driving Growth Productivity is the ratio of output to inputs in production. It is a measure of efficiency. INPUT TO OUTPUT
  80. 80. Productivity Driving Growth Productivity is the ratio of output to inputs in production. It is a measure of efficiency. INPUT MONEY OUTPUT TIME TO OVER
  81. 81. Productivity is about getting things done.
  82. 82. C o m p a n y X Y Z ’ s P r o j e c t Tr a c k Jan Project 1 Project 2 Project 3 Project 4 Project 5 Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
  83. 83. “ M o n e y O v e r Ti m e” Jan Project 1 Project 2 Project 3 Project 4 Project 5 Feb Mar Apr May Jun Jul Aug $25,000 $12,000 $35,000 $20,000 $35,000 Target: $201,600 Sep Oct Nov Dec
  84. 84. “ M o n e y O v e r Ti m e” Jan Project 1 Project 2 Project 3 Project 4 Feb Mar Apr May Jun Jul Aug $25,000 $12,000 $35,000 $20,000 Project 5 $35,000 Earnings: $127,000 Target: $201,600 Sep Oct Nov Dec
  85. 85. “ M o n e y O v e r Ti m e” Jan Project 1 Project 2 Project 3 Project 4 Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec $25,000 $12,000 $35,000 $20,000 Project 5 $35,000 Earnings: $127,000 Remaining: $74,600 Target: $201,600
  86. 86. “ M o n e y O v e r Ti m e” Jan Project 1 Project 2 Project 3 Project 4 Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec $25,000 $12,000 $35,000 $20,000 Project 5 $35,000 Earnings: $127,000 Remaining: $74,600 Potential: $127,000 Target: $201,600 Potential: $254,000
  87. 87. “ M o n e y O v e r Ti m e” Jan Project 1 Project 2 Feb Mar Apr May Jun Project 5 Aug $25,000 $12,000 Project 3 Project 4 Jul $35,000 $20,000 $35,000 Unexpected Project Overruns Sep Oct Nov Dec
  88. 88. “ M o n e y O v e r Ti m e” Jan Project 1 Project 2 Feb Mar Apr May Jun Project 5 Aug $25,000 $12,000 Project 3 Project 4 Jul $35,000 $20,000 $35,000 Project Impact & Ripple Effect Sep Oct Nov Dec
  89. 89. “ M o n e y O v e r Ti m e” Jan Project 1 Project 2 Project 3 Feb Mar Apr May Jun Jul Aug Oct $25,000 $12,000 $35,000 Project 4 Project 5 Sep $20,000 $35,000 Project Delays, Late Starts Nov Dec
  90. 90. “ M o n e y O v e r Ti m e” Jan Project 1 Project 2 Feb Mar Apr May Jun Jul Aug Sep Oct $25,000 $12,000 Project 3 $35,000 Project 4 $20,000 Project 5 $35,000 Actual: $99,500 ($100,800) Nov Dec
  91. 91. “ M o n e y O v e r Ti m e” Jan Project 1 Project 2 Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec $25,000 $12,000 Project 3 $35,000 Project 4 $20,000 Project 5 $35,000 Actual: $99,500 ($100,800) Up Hill Battle: $102,100
  92. 92. Productivity is about Deadlines.
  93. 93. Manage Deadlines. N o t Ti m e .
  94. 94. Benchmarks w i t h o u t Ti m e s h e e t s Value Productivity Money
  95. 95. Analyze the Benchmarks - Value Do his projects meet our standard of excellence? - Does she operate in the best interest of our company? - Does he have groundbreaking ideas that move the needle?
  96. 96. Analyze the Benchmarks - Productivity Is she meeting project deadlines? - Is he flexible and understanding with schedules? - Can she operate in the Flow?
  97. 97. Analyze the Benchmarks - Money Is he generating an appropriate amount of target revenue? - Is she compensated fairly for her efforts? - Is he providing hidden value to our company and our clients?
  98. 98. I d e n t i f y Yo u r O w n Metrics for Success
  99. 99. A n a l y z e & L e v e r a g e Yo u r D a t a “How can we improve?” “What are our most profitable & successful services?” “Are services priced properly based on the value they provide to our clients?” “Where & How can we expand?” “What trouble areas do we have?”
  100. 100. A n a l y z e & L e v e r a g e Yo u r D a t a “Big Data” Concepts in manageable chunks
  101. 101. A n a l y z e & L e v e r a g e Yo u r D a t a “Big Data” Concepts in manageable chunks All without the use of Timesheets.
  102. 102. Examples Close to Home F i g 1 . P R P L’s G r o s s R e v e n u e 500,000,000% In 2010, Purple, Rock, Scissors made a decision to throw out timesheets, focusing our efforts on Productivity and Value for our clients. 375,000,000% By the end of 2012, we began using the Time over Money concept to track, manage and analyze the usage of our resources. 250,000,000% 125,000,000% 0% 2009 2010 2011 2012 2013 * By the end of 2013, we are on track to more than quadruple our gross service revenue compared to 2009. Financials do not include media buy / ad spend. Just what matters: gross service revenue.
  103. 103. Wr a p p i n g I t U p A t b e s t , t i m e t r a c k i n g c a n u n d e r - v a l u e y o u r p r o d u c t i v i t y. At it’s worst, tracking time encourages damaging and perverse incentives ( Wallys ). Peak Performance: Focus on what matters. Results, Deadlines and Value. Explore ways to measure & optimize your performance. D o n’ t Wo r r y A b o u t Ti m e .
  104. 104. In Closing Dilbert / Scott Adams: dilbert.com/strips/comic/2008-08-31/
  105. 105. D o n’ t Wa s t e Yo u r T i m e B y Tr a c k i n g I t MICHAEL PARLER CHIEF OF STRATEGY WWW. P R P L . R S @PRPLRCKSCSSRS @MICHAELPARLER

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