Many times great projects fail because of lack of planning, organizing and managing of resources. This can lead to redoing of the project or completely dropping the idea. With resource management however, an organization can plan, organize and execute the project in mind successfully. Resource management is the utilization of organization’s needed resources in an efficient and effective manner. These resources can be human skills, information technology, and financial resources among others. In implementing a project, without effective resource management, it can be hard to complete that project. This is because a project has different stages and to move from one stage to the next requires the completion of the previous project stage. These stages are referred to as project phases or project milestones. To realize any project goals therefore, there is a need for proper and effective resource management.
How Resource Management should be done?
In a project, the management has to make an estimation of activity resources and management of human resource (workforce). This step is critical to project execution and its successful completion. The management is also involved in identifying quality team, educating the team, administering the team according to their professional skills and rewarding them accordingly. The materials to be used in a project need proper management. The management does the estimation of the project resources so that the project can be completed within the time frame and the within the estimated budget. The major goal of resource management is to invest in different resources and tool then use these resources to achieve the targeted goal. This goal is the successful completion of a project.
Advantages of Resource Management?
Resource management helps a company reduce operating costs through effective management of resources. This is done by use of resource allocation software to schedule flexible workforce and the use of video conferencing to reduce travelling costs. It also helps in identifying instances of lack of enough workforce thereby helping the management to either outsource or employ more work-forces for the project. It’s important to monitor and evaluate every project phase to ensure its success. The advantage is that this exercise helps in identifying any loopholes in a project especially things to do with finances. Identifying these loopholes can save a project because where there is no transparency, a project can fail.
Recruiting and retaining talented staff comes under human resource. Recruiting the best staff ensures the project’s success and growth of an organization. To retain quality staff requires offering extra benefits to the staff. Such benefits include but not limited to the professional training of staff, higher remuneration and reduction of liability costs through the purchase of medical insurance for every staff. This is another advantage of resource management.
Impact of Resource Management?
Resource management has great impact to an organization.It focuses on utilizing available resources to give profits to any organization or company.It ensures the staffs are properly utilized to offer their best in the organization. It also ensures that the organization’s records, financial reports and files are transparent and in order. Making of critical decisions and plans in an organization relies mostly in the information provided by the management. Without proper management, an organization can collapse with the decisions it makes, without which the firm can make enormous losses.
For an organization to run properly and manage its projects successfully, it needs resource management. It helps an organization realize its vision through the different measures they put in place. It also brings the best out of an employee through utilization of their talents. Human resource is therefore one of the strongest pillars of any organization or company.