Why resource management

When you know what you need to make a project successful, you can effectively understand how to plan resources in an efficient way. To some companies, optimum efficiency is so important that they hire someone solely devoted to resource management; also known as a resource manager. What does a resource manager do? While project managers are responsible for creating and assigning tasks to get the project done, resource managers are accountable for allocating the resources needed to make the project a success.

Resource allocation helps you get the most from your available resources. To get a clear view into allocation, project managers will often use resource allocation reports. These can give anywhere from a high-level view to a detailed run down of resource availability — helping you avoid schedule delays and going over budget.

The better the reporting capabilities at your disposal, the more transparency and efficiency you will have over your projects. One of the main reasons project managers rely on a resource management plan is to set realistic expectations with the client or stakeholder about the project timeline.

A resource management plan includes a detailed timeline of resource use and project progression including detailing when specific project deliverables can be expected. Resource management takes the guesswork out of the project timeline, helping set expectations with stakeholders as well as providing a baseline for the project manager to measure project progress. It can sometimes be difficult to estimate a project, especially if the project is new or different from previous projects.

This is one of the reasons resource management is important. With a good resource management process, it is easier to create more accurate estimates. This is because the project manager can more accurately break down which resources will be needed to complete a project as well as the associated costs, empowering the salesperson or manager to more accurately calculate project costs and profit margins. It also provides a record of historical data from previous resource plans and projects to better inform budgets for new projects.

Because of the improved insight into actual project costs, organizations can use resource management to improve their overall profitability. One of the biggest challenges in profitability, especially in professional services companies, is attributing costs to actual projects. Resource management simplifies this process—especially when the company uses a sophisticated resource management tool—helping to better predict and track resource use.

This, in turn, informs more educated project estimates and profit margins. An employee who is overworked, constantly behind schedule, or taking part in too many simultaneous projects is going to feel overwhelmed and dissatisfied with their job. This is why resource management is an important asset to the company. Resource management quantifies the work an employee has on his or her plate and helps project managers make more strategic decisions about who to include on new projects and when to do so.

This helps to prevent work overload, which can improve employee morale and satisfaction. With effective resource management, everybody wins. As a result, you can allocate resources to different assignments with business objectives in mind. What will you gain when you start managing resources strategically? Resource management can positively affect the delivery of projects. When you implement strategic resource planning and allocation, you make sure that the right people work on the right projects.

It will enable you to allocate resources better—you can pick team members that will excel at a given project due to their expertise. The efficiency and effectiveness of delivering projects are also increased because you can spot potential challenges scheduling conflicts, shortage of resources, too much overtime in advance, and adjust the schedule of your project before these issues escalate.

Such a heads-up can save your project from failing. Project managers know what project transparency is essential to maintain trust within their teams. Resource management greatly supports healthy relations between employees and their managers but also between different project managers. Your tool should allow you to add a tentative booking to that person: other managers will see that this person will probably be joining your team. They send an email to their project manager or another supervisor, and the email chain begins.