Activity 11 Resource Management

 

Task. Resource Management study guide questions

1.What is Resource Management? 

Is the process of pre-planning, scheduling, and saving resources to maximize their effectiveness.

Resource management as part of project management is about doing more with less.

 

2.Mention what is the importance of Resource Management in business.

·         Resource management focuses on optimization and efficiency. When you know what you need to make a project successful, you can efficiently plan the proper way to use those resources.

·         Use scarce resources effectively in a matrix organization.

·         Bridge the capacity vs Demand gap proactively.

·         Improving effective/billable resource utilization.

 

3.What are the Concepts and Components of Resource Management? Define them in detailed.

1.    Resource scheduling: It is the search for resources and information that need to be done during a specific period to carry out a task.

2.    Resource utilization: It refers to the amount of time that employees dedicate to company tasks vs the availability they have to carry them out.

3.    Resource forecasting: helps managers predict resource utilization levels in advance and foresee the resources likely to end up on the bench.

4.    Resource and capacity planning: This point allows us to predict future resource needs before the project begins. Resource forecasting determines the project objective, potential constraints, unforeseen costs, and potential risks.

5.    Business intelligence and reports: It implies knowing how to keep track of the expenses that the company has, it is also carrying out ideas that fulfill the purposes of the company.

 

4.What are the advantages of resource management?

1.    More beneficits in decision making.

2.    Search and attract new challenges and talents

3.    Better labor relations.

4.    Improved the internal communication.

5.    Resource optimization.

 

5.What are the skills that every resource manager should have? Explain  each in detail.

·         Communication skills: Being able to communicate with other people in a correct and clear way gives great importance to our person. This skill is very important, it makes the first impression on others.

·         Conflict resolution: The manager must have the ability and tolerance to resolve conflicts that occur within the company, always maintaining a position of equality between both parts.

·         Domain knowledge: This point mentions that the manager must be prepared for any type of challenge that he has in the area in which he is, have knowledge about the management of the company.

·         Proactive planning: All project managers must have a strategic plan, a series of steps that they must follow to fulfill their obligations to both the company and its partners, it is important to keep track of the company's planning, in this way it is known what It is the important thing to cover and what are the purposes of the company.

·         Negotiation skills: Every manager must have the ability and facility to negotiate with other people based on their purposes. This is perhaps the most important point at which the company defines its path.