I've had great success tracking my team, and my team's time, by the day. On the level of "I'm working on project A, project A is now done and I'm now working on

I've had great success tracking my team, and my team's time, by the day. On the level of "I'm working on project A, project A is now done and I'm now working on project B." It's obviously imperfect but it's good enough to prevent the edge cases, e.g. somebody spending a month on something low priority.