What does resource management mean for your business?
Resource planning and subsequent resource management are necessary to achieve high functioning project management. An article by Plan View says that resource management means substantial improvements in your business; the most prominent improvements are higher productivity and cross-team and individual gratification.
What are some of the best resource management best practices?
As you might have known by now, businesses must learn to adapt and come up with innovations to carry on. You are required to follow certain best practices to plan and manage resources. The following will offer you some reflective clarity:
- Ensure that your resources are aligned with your business goals. This involves matching your staff’s skillsets where appropriate. Be careful that you do not overcommit them though.
- Ascertain those distinct nuances such as individualistic behavior, thinking, approach, and mindset of your people do not interfere in the resource management process, causing hiccups.
- Identify the resources that are running short and acquire or replenish them. Plan around the availability of these constrained resources to avert bottlenecks and tardiness.
- Create a common ground in prioritizing and sharing resources.
What are the benefits of having resource planning and management?
It is a fact that resource planning and management are complex processes. But there are palpable benefits that make applying both worth it:
- Resource optimization is enabled. It helps prioritize high-value work with the available resources.
- Progress tracking is made easier.
- Time tracking is made viable and time utilization in lieu of the resources can be measured.
Did you know that research shows that project completions take a lot longer and budgets burst at the seams when resource planning and management are not implemented?
Another fact is your project completion deadline is often out of your capacity when you do not have resource management in place.
The road to effective resource management begins with strategies to integrate available resources into project planning, scheduling, and control.
You can learn in-depth about how to implement planning and manage resources and deliver projects with efficacy by taking the Project Management 360 certificate offered by Genashtim in collaboration with eCornell, Cornell University’s executive education unit.
eCornell courses are approved by SkillsFuture Singapore for SkillsFuture Credit as well as by HRD Corp Malaysia under its SBL-Khas scheme.