Not logged in Search APM RESOURCES MEMBERSHIP CHARTERED STANDARD Home ❯ Blog ❯ What is resource management? QUALIFICATIONS AND TRAINING JOBS AND CAREERS NEWS AND OPINION What is resource management? Login to add to CPD log EVENTS BOOKS This website uses cookies We use cookies to personalise content, provide social media features and give us statistics. We share information about your use of the site with our social media, advertising and analytics partners. As well as necessary cookies we also use preference, statistical and marketing cookies for which we requireShare consent. You can view details on the cookies we use by clicking ‘show details’. 18 Jul 2018 • Kirsten Bird COMMUNITY Use necessary cookies only Necessary Login to bookmark this Preferences Allow selection Statistics this article 4 comments Allow all cookies Marketing Show details Tagged as Project controls Beginner - New project manager Latest blogs Read the latest on resource optimisation here Resource management is acquiring, allocating and managing the resources, such as individuals and their skills, nances, technology, materials, machinery and natural resources required for a project. Resource management ensures that internal and external resources are used e ectively on time and to budget. Resources may be obtained internally from the host organisation or procured from external sources. The APM Body of Knowledge de nes resource management as 'the acquisition and deployment of the internal and external resources required to deliver the project, programme or portfolio’. The best way to become a better project leader 19 JUL 2022 The project professional must identify the resources required to deliver the work, as part of planning, and determine when the resources will be required, through scheduling. This forms an essential part of the project management plan. What are resources? According to the APM Body of Knowledge, ‘the resources needed to deliver a project, programme or portfolio include people, nancial resources, machinery, materials, technology, property and anything else required to deliver the work. Resources may be obtained internally from the host organisation or procured from external sources’. They can also be consumable and/or re-usable. Why is resource management important? A beginner’s guide to agile – three common myths debunked 18 JUL 2022 De ning of resources and their availability, linked with planning of resource demands and related reporting, allows for e ective use of limited resources. Standardisation of procedures and processes also saves resources being wasted and nances being spent on the wrong things – a signi cant cost-saving factor. All of the above contribute to the overall success of the project. What is the best way to manage project resources? The best ways to manage resources e ectively is to follow the three step process set out below: Allocation Aggregation Scheduling Ease your path into programme management Allocation involves identifying what resources are needed to complete the work, ie. the quantity required or the amount of e ort required. Aggregation of resources on a daily, weekly or monthly basis shows the total amount consumed at any point in time. Resource scheduling is used to calculate the resources required to deliver the work and when they will be required. Once you know the resource allocation and understand the consumption, you can then manage the schedule more e ectively. In some instances you may need to apply speci c scheduling techniques to ensure the project meets its objectives. These include: resource smoothing (used when time constraints take priority) and resource levelling, which is creating a balance of the resource stock, ie. reducing excess and shortages when the availability of resources. Sometimes both techniques may need to be used. The fully-resourced schedule has to be achievable and have the support of the management team. 14 JUL 2022 SEE MORE BLOGS Related blogs You may also be interested in: Attending new project management events The four biggest people management mistakes on transformation projects Getting involved in the project management community Sign up to enjoy the latest project management articles delivered straight to your inbox What do aspiring project managers want to know about project management? 26 MAY 2022 WRITTEN BY Kirsten Bird 4 comments The power of learning to change your mind Join the conversation! 19 APR 2022 Log in to post a comment, or create an account if you don't have one already. Dan Ryder FCIOB FCABE C.Build E MAPM 19 July 2018, 07:16 AM Very true, as it is imperative to start the scheduling process by identifying what resources are needed to complete the work, including the quantity required or the amount of e ort required including any speci c skills. Also agree that monitoring of resources on a daily, weekly or monthly basis determines the total amount used at any point in time. Good exercise in using resource scheduling to anticipate and project the resources required to deliver the work and when they will be required during the programme. Agree with all your points. Dan Ryder Merging change and project management – 6 top tips for project professionals 11 APR 2022 SEE MORE BLOGS Liza Minnelli 17 August 2021, 07:59 AM Thanks for giving such a wonderful knowledge to me. I am really glad to read thi Liza Minnelli 17 August 2021, 08:00 AM Thanks for giving such a wonderful advice. You can also visit my page https://www.treatassignmenthelp.co.uk/service/management-assignment-help Bongani Dlodlo 21 November 2018, 08:33 PM Excellent post. I would also add that risk management is crucial in managing resources. Risks should be identi ed at resource scheduling phase to assure that appropriate resources are available at the right time to avoid the project falling behind schedule, e.g. machine or equipment breakdown, sta absences, external constraints like; suppliers going burst or failing to deliver on time and so on. Identifying risks allows PM to formulate contingency plans to mitigate or minimise such risks impact on the project schedule. Likewise, opportunities should be identi ed that could bene t the project. About us Member bene ts APM Research Media centre Contact us CPD Accessibility Statement Privacy Policies and Cookies Sitemap Job board Body of Knowledge Terms and Conditions Follow us for the latest updates © 2021 Association for Project Management
