Resource management: Difference between revisions

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In{{Short [[organizational studies]], '''resource management''' is the efficientdescription|Efficient and effective deployment of an organization's resources when they are needed. Such resources may include financial resources, inventory, human skills, production resources, or information technology(IT).}}

{{other uses}}

{{business administration}}

In [[organizational studies]], '''resource management''' is the efficient and effective development of an organization's resources when they are needed. Such resources may include the financial resources, inventory, human skills, production resources, or [[information technology]] (IT) and natural resources.

In the realm of [[project management]], processes, techniques and philosophies as to the best approach for allocating resources have been developed. These include discussions on functional vs. cross-functional [[resource allocation]] as well as processes espoused by organizations like the [[Project Management Institute]] (PMI) through their [[Project Management Body of Knowledge]] (PMBOK) methodology of project management. Resource management is a key element to activity resource estimating and project human resource management. Both are essential components of a comprehensive project management plan to execute and monitor a project successfully.<ref>{{cite book|title=A Guide to the Project Management Body of Knowledge, Third Edition|year=2004|publisher=Project Management Institute (PMI)|___location=Newtown Square, Pennsylvania|isbn=1-930699-45-X|url-access=registration|url=https://archive.org/details/guidetoprojectma00proj}}</ref><ref>{{cite book|title=A Guide to the Project Management Body of Knowledge, Fourth Edition|year=2008|publisher=Project Management Institute (PMI)|___location=Newtown Square, Pennsylvania|isbn=978-1-933890-51-7|url=https://archive.org/details/pmbokguide4thedition/mode/2up}}</ref><ref>{{cite book|title=A Guide to the Project Management Body of Knowledge, Sixth Edition|year=2017|publisher=Project Management Institute (PMI)|___location=Newtown Square, Pennsylvania|isbn=978-1-62825-184-5|url=https://archive.org/details/pmbok6thedenglish/mode/2up}}</ref> As is the case with the larger discipline of [[project management]], there are [[list of resource management software|resource management software]] tools available that automate and assist the process of resource allocation to projects and portfolio resource transparency including [[supply and demand]] of resources.

HR (Human Resource) Management - The science of allocating human resources among various projects or business units, maximizing the utilization of available personnel resources to achieve business goals; and performing the activities that are necessary in the maintenance of that workforce through identification of staffing requirements, planning and oversight of payroll and benefits, education and professional development, and administering their work-life needs. The efficient and effective deployment of an organization's personnel resources where and when they are needed, and in possession of the tools, training and skills required by the work.

== Corporate resource management process ==

One resource management technique is '''resource leveling'''. It aims at smoothing the stock of resources on hand, reducing both excess inventories and shortages.

Large organizations usually have a defined corporate resource management process which mainly guarantees that resources are never over-allocated across multiple projects.<ref>[http://www.pmhut.com/modern-project-management Modern Project Management]</ref> Peter Drucker wrote of the need to focus resources, abandoning less promising initiatives for every new project taken on, as fragmentation inhibits results.<ref>{{cite web|title=Growing in Turbulent Times'|url=http://www.projectauditors.com/Papers/Growing_a_Company/Growing_in_Turbulent_Times.html |author=Frank Parth}}

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== Techniques ==

The required data are: the [[demand]]s for various resources, forecasted by time period into the future as far as is reasonable, as well as the resources' configurations required in those demands, and the [[supply]] of the resources, again forecasted by time period into the future as far as is reasonable.

One resource management technique is '''[[resource leveling'''|resource-leveling]]. It aims at smoothing the stock of resources on hand, reducing both excess inventories and shortages.

The required data are: the [[Demand (economics)|demand]]s for various resources, forecastedforecast by time period into the future as far as is reasonable, as well as the resources' configurations required in those demands, and the [[Supply (economics)|supply]] of the resources, again forecastedforecast by time period into the future as far as is reasonable.

The goal is to achieve 100% [[utilization]] but that is very unlikely, when weighted by important metrics and subject to constraints, for example: meeting a minimum service level, but otherwise minimizing [[cost]].

The goal is to achieve 100% [[Rental utilization|utilization]] but that is very unlikely, when weighted by important metrics and subject to constraints, for example: meeting a minimum service level, but otherwise minimizing [[cost]]. A Project Resource Allocation Matrix (PRAM) is maintained to visualize the resource allocations against various projects.

The principle is to invest in resources as stored capabilities, then unleash the capabilities as demanded.

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A dimension of resource development is included in resource management by which investment in resources can be retained by a smaller additional investment to develop a new capability that is demanded, at a lower investment than disposing of the current resource and replacing it with another that has the demanded capability.

In [[Habitat conservation|conservation]], resource management is a set of practices pertaining to maintaining natural systems integrity. Examples of this form of management are [[Air#Air pollution|air resource]] management, [[soil conservation]], [[forestry]], [[wildlife]] management and [[water resource]] management. The broad term for this type of resource management is [[natural resource management]] (NRM).

== See also ==

* [[Environmental management]]

* [[Factor 10]]

* [[Holistic management]]

* [[Industrial symbiosis]]

* [[List of resource management software]]

* [[Resource allocation]]

==See alsoReferences ==

{{reflist}}

*[[Resource allocation]]

{{Management}}

==External link==

* [http://industrialsoft.org/schedule.htm Opensource software/case study/Resource Allocation using prority rules]

{{DEFAULTSORT:Resource Management}}

[[Category:ConservationNature conservation]]

[[Category:Land management]]

[[Category:ProductionSchedule and(project manufacturingmanagement)]]

[[Category:Management by type]]