April 12, 2022

What is Resource Management?

Project Management
What is Resource Management?

Imagine that you're going hiking. Your biggest duty is to pack your backpack with the most important things. You need to decide, what is necessary, what would save your life in case of emergency, and what will be unnecessary luggage. Remember that everything you packed would be carried on your backs. This is exactly life resource management.

But in business, things seem to be more complicated. Resource planning covers whole areas or departments in the company, and as a resource manager, you are directly responsible for what you have managed.

Quick navigation:

1. What is resource management?

2. Is resource management so important in project management?

3. What are the most common resource management techniques?

   3.1. Allocating resources

   3.2. Resource forecasting

   3.3. Resource leveling

   3.4. Resource utilization

4. How to make it easier for project managers to manage resources?

  4.1. What functions should the resource management software fulfill?

What is resource management?

1

So what is resource management? Resource management is a process that combined many activities like planning, scheduling, and allocating resources to maximize resource efficiency.

Managing resources could be difficult if we don't know what resources exactly are. So it's worth knowing everything that you need to finish projects and tasks. It's not just a material thing, but also human resources, including team members' skills, time, money, tools, physical space, and many more. We need to remember that every project requires miscellaneous resources, so the planning marketing activities will look different, and the organization of the event will be different too.

Is resource management so important in project management?

2

There is nothing more frustrating than wasted time or a wasted budget, which is why resource management in project management is a way to optimize and improve performance. Resource scheduling allows for seeing potential risks in future projects and saves time and project costs.

Thanks to the resource management process you can gain maximum efficiency by tracking how much time your employees spend on tasks and how big the workload is. It enables better resource forecasting and prevents burnout.

The next reason why is this so important is a constant overview, which gives you control over what happening. Seeing real-time data and being up to date would make tracking progress easier. It gives you information on what time period was better or worse for your company.

The third advantage is transparent communication. Human resource management is based on people and their responsibilities. If every team member has all tasks scheduled, there will be a thorough understanding. For this, try communication tools.

More planning = less divination. Poor resource management won't enable you to predict the future and its problems. A good resource manager can fix problems before they destroy the project running. Resource management gives you more transparency in your business.

What are the most common resource management techniques?

resource management techniques

Allocating resources

Resource allocation is a way to troubleshoot over or shortage of resources in a specific location. It helps to make the most of what we have at our disposal in the most effective way possible. Project managers often use allocation reports for the allocation process, which helps them assemble available resources and clearly manage work. If needed, they can also work on a SaaS content marketing strategy to improve brand awareness and business processes better.

Resource forecasting

Forecasting resources is one of the most important activities in predicting future project requirements and scope. It helps to optimize performance, although it requires excellent knowledge of the life cycle and project goals by project managers.

Resource leveling

Resource leveling helps you discover under- or inefficient use of resources and easily troubleshoot problems. This technique also makes it easier to tailor tasks to individual team members who can develop their skills.

Resource utilization

Resource utilization allows you to determine whether resources are over-utilized or under-utilized by observing the distribution of work overtime. This technique allows you to catch and prevent burnout in the event of overuse, or to better manage tasks when resources are not fully used.

How to make it easier for project managers to manage resources?

4

Even the best project managers are not able to organize the whole project, manage resources and watch progress without any help. That's why they should use an effective resource management software, which will be a combination of features necessary to maximize efficiency.

What functions should the resource management software fulfill?

Obviously, good tools should enable resource planning and multiple projects management, but they provide resource management solutions, which are more complex, like:

A good resource management tool shouldn't be expensive and too complicated to use, because the main idea of these kinds of tools is to facilitate, not obstruct the work.

You know what resource management is, and resource management techniques are the most commonly used. As a project manager or resource manager, you are able to manage the resource management process and see its pros. Just try to make management easier with appropriate tools and good luck!

Tags:

Check our other articles

Choose Your platform and download the app