Resource management is the process whereby businesses actively manage the range of resources that they have. This will include the likes of time, people as well as finances and even materials and equipment.
Implementing resource management effectively requires detailed planning so that the right resources are assigned to the right tasks. It will also involve implementing schedules as well as appropriate budgets for projects, people, supplies and equipment.
It is commonly referred to when project managing but it is also applicable to many areas of businesses and teams because it means that a focus must be placed on several things such as finances, staffing, physical space, equipment and technology
The Benefits of Using Resource Management in Your Organisation and Teams
There are many different benefits that come with effective resource management. For those businesses that improve resource planning, they find that they can allocate people accordingly based on their skills and their availability. This enables managers to set expectations that align with the client and they are able to understand timelines, workloads and budgets.
It also makes it possible to plan and manage schedules based on real-time data, enabling smarter decisions to be made around teams and their skills. Furthermore, resource utilisation becomes a possibility because it allows businesses to understand the true capacity needed to carry out certain jobs and tasks.
Additionally, it makes it easier to prioritise resources and allocation, making it possible to move certain resources into those areas that need them. When employees are over-utilised, they can become frustrated quickly and they can feel that their workloads are too much, this can lead to reduced productivity and poor performance. However, with resource management, organisations can ensure that their staff’s workload is aligned to what they can manage to drive success and that resources are in the right place so that a business and teams can function correctly.
How it Helps
Resource planning and management help give businesses the ability to manage finances by being able to determine whether budgets can meet certain needs such as new equipment or staff training. It also helps to determine whether they have the right people and skills for the work and for any new work that they might attract.
Businesses will be able to establish whether they are using equipment correctly and whether they need to invest in new equipment to help improve efficiency and productivity. Furthermore, businesses will have the scope to decide where staff should be placed. This ensures that the right people are placed in the right roles or right projects, helping to reduce costs and time.
Resource Management Best Practises
There are a number of best practices to consider when implementing resource management. These include:
Understanding which resources are lacking and focusing on them.
Prioritising work across share resources by agreeing on a common approach
Utilise results and stats from resource management reports to make educated changes throughout the organisation
Understand that resource management is constantly evolving
Planning work
Track time
Reduce or avoid multitasking
Ensure that valuable assets and resources are productive and satisfied
If you are interested in learning more about implementing Resource Management into your organisation, get in touch with the PPS team to arrange a Discovery Call.
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