Journyx - the first company to provide Web-based time tracking and project accounting solutions that guide customers to per-person, per-project profitability – has launched the 2008 Excellence in Project Accounting Philosophy essay scholarship. The scholarship is open to full-time graduate and undergraduate college students at a university in the United States. The winning essayist will receive $500 toward college tuition and fees.

Interested students should contribute an essay of 1,000 words or less on one of the following two topics:

Persuade someone who doesn't want to track his time on a per-product per-activity basis why it is in his best interests to do so.

Describe a real situation that you've encountered where project
oriented time tracking has made a positive difference in the world.

Rocco Costa, a student at Monterey Institute of International Studies in Monterey, Calif., was last year's scholarship winner.

"Tracking the time spent on products and activities throughout the workday has many applications, most importantly as a cost-saving instrument for business," says Costa. "If a person can measure productivity within a given period, they not only know how their time is spent, but also whether it is the best 'value' for the company. Both businesses and employees gain from this since workers can establish if they are functioning efficiently, and businesses can determine their deadlines, profits and costs on an hourly, daily, and even yearly basis."

Complete rules and details, including how the essays will be scored, where to send the entries, etc. can be found at the scholarship Web site. The scholarship program will run until June 1, 2008.