1. Imagine being able to show a prospective employer your billable effeciency.
2. Neither party needs to know the exact scope of a project before beginning.
3. Tracking time allows for great flexibility as a project proceeds: Estimates that slow down business don’t need to be adjusted when scope changes.
4. Nobody needs to agree to a fixed fee project, instead we can get started right away and both sides can evaluate progress along the way.
5. Creates an easy window for ongoing work and small requests can be handled quickly without having to generate a fixed price.
6. Scope creep isn't a problem any more, instead it is an opportunity to earn more business.
7. Imagine being able to show a prospective employer your billable efficiency.
8. When a clock is running it helps you focus on the task at hand. Distractions like chat and web surfing tend to be pushed till later.
9. If your income depends on billable hours, then a few minutes a day could add up to thousands of dollars a year.
10. Knowing how long it takes to complete common tasks makes building new estimates that much easier.
11. Compare the hours of one month against another or use your time logs to create competition among a team of people.
Another Great List from Chris Tingom and Tornado Design