Project Management - Component

Recently I been involved in project management and had a brush with MS Project. And I think it is a good tool. Good in the sense of presentation and information. But usability suffer because of the complexity and the flexibility.

I did some normalization of the data components and derived basically 3 things:
1) Users
2) Resource
3) Tasks

A combination of this 3 objects and its relationship basically describe the whole project.

Am I right?

The time factor is contain within the Tasks
The financial component is within the Resource and Task.
The users? Basically is the one overseeing the Tasks.

What do you think?
Simplicity is Elegance