What is Resource Management?

What is Resource Management?

Resource Management is a process used by enterprises to structure the team based on the availability and capability of the resources and track their utilization. There are two key sub-processes within Resource Management,

  1. Resource Scheduling: It is a process of allocating resource to the projects.
  2. Resource Utilization: It is a process of tracking the utilization of allocated resources.

Resource Schedulling vs Resource Utilization

Why Resource Management?

For professional product & service enterprises employee salary cost accounts for the major expenditure as much as 70-80% of total expenditure.

When an enterprise is profitable, usually people avoid focusing on resource management process. But in today’s fast-moving era, competition is inevitable and everyone must thrive for constant survival and growth.

Mid and large scale enterprises require this process to efficiently schedule resources over multiple projects and track their utilization to use the resources at the optimum level and reduce the bench (the resources not working on any projects).

 

Key objectives

Following are the two key objectives of Resource Management process,

  1. Optimum utilization of the overall enterprise resources by reducing the bench size
  2. Optimum utilization of the scheduled resources by tracking their utilization

 

Key Benefits

One of the core benefit of using efficient Resource Management process is the optimum utilization of the overall resources. In addition, the following are the key benefits,

  • Centralize & visual resource scheduling by a dedicated resource manager for the better visibility to top management.
  • Find & schedule resources based on availability & skills without much hassle.
  • Optimum utilization of resources by allocating them on multiple projects.
  • Get enterprise-wide % of resources scheduled for upcoming months to provide North Star direction to the sales team to acquire more projects.
  • Get enterprise-wide bench size (the resources not working on any projects).
  • Avoid unnecessary new recruitments

So far, you must have understood the value of resource management process. You can connect with our custom success manager to implement it within your process or follow this best practices.

Click here to access the best practices of Resource Management.