14. Resource Management

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Task 1 Resource Management study guide questions.

Do not copy and paste the answers. Read the information and express the  ideas in your own words or paraphrasing instead of copying. Remember to  write complete sentences not isolated words or phrases.

 

1.     What is Resource Management?

This is the process of planning, scheduling, and pre-allocating resources to maximize their effectiveness. A resource is what is needed to perform a task or project, but it can also be an employee skill set or the implementation of software.

 

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

It is important because part of project management is trying to do more with less, that is, it is not wasting. Resource management focuses on optimization and efficiency. When you know how much is needed for a project to succeed, you can efficiently plan an appropriate way to use resources.

 

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

- Resource scheduling: Involves identifying and assigning resources over a specific time period to different tasks in a project.

 

- Resource Utilization: Measures the amount of time an employee spends on different tasks in a project based on availability. It is a key performance indicator for the business landscape, which directly influences the company's performance.

 

- Resource Forecasting: Helps the manager predict and forecast levels of resource utilization in advance.

 

- Resource and Capacity Planning: The process that integrates planning, forecasting, allocation, and workforce utilization in the most intelligent and efficient way.

 

-Business Intelligence and Reporting: Provides information processed by performing comprehensive data analysis. It uses real-time data and generates individual reports and tables of important resource management metrics.

 

4.What are the advantages of resource management?

·       Prevents unforeseen difficulties: That is, by knowing resources and planning how to use them, gaps or problems can be prevented.

·       Prevents aging: Efficient resource management prevents overallocation of resources by getting an overview of the team's workload.

·       Provides a security network: Resource planning and management tells you what you can do with what you have at your disposal.

·       Achieve transparency: other teams within the company can have visibility into the capacity that the team has and thus plan based on that capacity.

·       Measure effectiveness: You can plan and measure roi effectively because you already know what it takes to execute and manage an upcoming event.

 

 

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

ü    Communication skills: An administrator acts as a mediator in the process of resource requests from project managers, because of this, it is important to have exemplary communication skills.

ü    Conflict resolution: The job and responsibility of a resource manager is to step in, set the right expectations, and make sure everyone is in sync for the work to continue.

ü    Knowledge of the domain: a resource manager must have experience of the turn in the company, that is, if the company is cosmetics the administrator must know about it since he has the responsibility to allocate the resources, and these must be adequate.

ü    Proactive planning: they must be ingenious to make calculated decisions for the implementation of the treatments of adequate resources.

ü    Negotiation skills: there are different challenges for the resource manager, situations can arise where he has to look for a middle ground of a problem and negotiate so that all parties are satisfied.

ü    Risk management: they must have an advance planning with a backup plan to keep the project running.

 

 

 

 

Sources:

Hansen, B. (November 20, 2018). “¿Qué es la gestión de recursos y por qué es importante?”. Wrike. https://www.wrike.com/es/blog/que-es-la-gestion-de-recursos-y-por-que-es-importante/

 

Mansinghka, A. Negi, S. (October 6, 2021). “What is Resource Management and its Importance?”. SAVIOM. retrieved December 29, 202. https://www.saviom.com/blog/what-is-resource-management/

 

Comentarios

  1. Fernanda Ramos29 de diciembre de 2021 a las 3:01 p.m.

    I agree with all the information you put in, very well synthesized and explained. The issue is becoming increasingly clear to me.

    ResponderBorrar
  2. Rafael Ávila29 de diciembre de 2021 a las 5:27 p.m.

    I think that without a resource manager, companies may not have the ability to sustain their expenses or have low profitability

    ResponderBorrar
  3. Carlos Alamea29 de diciembre de 2021 a las 6:31 p.m.

    We agree on the same concepts and it seems that you understood very well this topic that is new to me

    ResponderBorrar
  4. The new business of virtual currencies by Christofer30 de diciembre de 2021 a las 10:13 p.m.

    I agree with you in measuring the efficiency in the advantages, this serves to make decisions in a timely manner at the time of detecting any error.

    ResponderBorrar
  5. Cinthia Segura Pérez30 de diciembre de 2021 a las 10:32 p.m.

    I like your definitions because you cover many important aspects and summarize them clearly. Likewise, I consider that resource management is a fundamental aspect of the company because one of its main characteristics is to reduce costs.

    ResponderBorrar

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