2. RESOURCE MANAGEMENT
is the efficient and effective
development of an organization's
resources when they are needed. Such
resources may include financial
resources, inventory, human skills,
production resources,
or information technology (IT)
3. RESOURCE ALLOCATION
RESOURCE ALLOCATION involves
determining how resources will be used
and divvying up the money that is going to
be used to achieve goals. With project
management, a plan is devised that will
produce a deliverable. Resource allocation
is ensuring that those who have the
responsibility of handling the finances and
resources do so in an effective manner.
4. It involves planning so
that the right resources
are assigned to the right
tasks. Managing
resources involves
schedules and budgets
for people, projects,
equipment, and
supplies.
5. A RESOURCE MANAGER is in
charge of ensuring that the
resources required for a project
are obtained, accounted for, and
utilized. A resource manager
ensures that each type of
resource needed is identified.
The amount of resources needed
must be accounted for, and each
resource’s purpose must be detailed
as well.
6. A RESOURCE in project management
includes the materials, labor, tools, and
equipment needed to complete a deliverable.
A RESOURCE is a necessary asset whose main role
is to help carry out a certain task or project. A
resource can be a person, a team, a tool, finances, and
time. Most projects require many different resources
in order to be completed.
There are 3 major types of Resource:
1. PEOPLE
2. CAPITAL / FINANCIAL BUDGET
3. MATERIALS / GOODS
7. 3 MAJOR TYPES OF RESOURCES
PEOPLE CAPITAL MATERIALS / GOODS
Normally a project team is a
group of people and you
won’t be working alone
Your project needs money,
because it will need to pay
for things, even if that is
only your salary
Projects also use up assets.
Assets, or goods, vary from
project to project but it’s
highly likely that your project
will need some kind of
tangible resource.
8. RESOURCE PLANNING
1. A process to identify what’s
needed to deliver on a specific
project
2. They are required to be
detailed at the task level of
your plan
3. And they can include
personnel, equipment, and
even finances
9. RESOURCE PLANNING
The more detailed, the better. As this is
a plan, you’ll want to involve others in
this process, as certain team members
might require additional resources than
what you expect. Be sure to include
essential and non-essential personnel
and equipment. It’s better to plan for
items and not ultimately require them,
then have to scramble to, say, acquire
an expensive piece of equipment at the
last minute, and pay a premium price,
accordingly. Resource planning, in
short, is financial planning.
10. 6 SECRETS OF GOOD PROJECT RESOURCE
MANAGEMENT.
1. RESOURCE ESTIMATION
Estimating the requirement of internal and external resources.
Active estimation is required for each task within the project so that deployment
of resources can take place in the most efficient manner possible.
2. COLLECTION OF DATA
There is some data which is needed for efficient resource management in a
project. This includes details on:
• Available resources
• Requirement for resources
• How resources will be able to meet the demands
11. 6 SECRETS OF GOOD PROJECT RESOURCE
MANAGEMENT.
3. RESOURCE PLAN
Each project plan needs to have a separate resource plan that contains different
aspects of resource requirement, allocation, and utilization from the start to the
end of the project. In the resource plan, a project manager can create a
hierarchical list of the resources needed for the completion of the project
.
4. SCHEDULE DEVELOPMENT
Schedule development involves establishing the starting and ending dates of all
project tasks to create a final schedule. The resource plan, containing the
hierarchical breakdown of resources, is then matched with the activity breakdown
of the project. This helps in assigning the required resources to each activity more
efficiently.
12. 6 SECRETS OF GOOD PROJECT RESOURCE
MANAGEMENT.
5. CHECKING FOR RESOURCE OVER ALLOCATION
A project manager must ensure that resource OVER ALLOCATION IS
AVOIDED at all times. This happens when a greater amount of work is assigned
to a resource, that which cannot be finished within the normal working hours.
This could lead to the overspending of financial resources.
.
6. NEGOTIATING FOR RESOURCES
Smaller projects typically draw upon internal resources of the organization. This
implies that though the project manager might need to formally procure external
resources, he/she would have to hone his/her negotiation skills in order to get
the necessary organizational resources. A key role would have to be played by the
project manager in getting the organization to commit to providing essential
