Resource Management Is an Effective and Efficient Essay

  • Length: 5 pages
  • Sources: 6
  • Subject: Business - Management
  • Type: Essay
  • Paper: #74661610

Excerpt from Essay :

Resource management is an effective and efficient way of deploying the resources within an organization. These resources include human skills, inventory, financial resources, production resources or even the information systems. For there to be success in any project there has to be effective management of resources when it comes to assigning them to the projects. This often includes hours of labor for those people who are assigned to the particular project. Resource management also involves management of the labor hours of the people that are involved in subcontracts. Apart from the management of people, resource management also involves managing equipment that are to be used for specific projects and the materials required by people and the specific equipment that have been assigned to the projects. When it comes to project management there are techniques, philosophies, and processes can be developed in a bid to ensure that the best approach is taken towards the allocation of resources. Resource management is a crucial element when it comes to the estimation or resources and project human resource management. The paper will look at the principles of resource management in will also look at the Principles of data collection and analysis in resource management. The paper will also highlight the principles and application of phasing in resource management.

Understanding the Principles of Resource management

Aims and objectives of resource management

Resource management is a very crucial part when it comes to any project. There are various aims and objectives that can be linked to resource management. These objectives include to ensure that; there are employees within the organization that have the required skills and profile that is needed for the specific project that is to be undertaken. Another aim is deciding the number and sets of skills that are required when hiring new employees. Another aim is to ensure that the workforce is located to the various projects which they are required to work under. Another aim is to ensure that the quantities of other resources required for a specific project are available and equally distributed. Another aim is ensuring that the resources are available at the exact time which they are required meaning that the resources should always be available as and when required (Lock, 2007).there are various examples of business applications when it comes to the objectives of resource management. For instance a business wants to introduce a new product. They will require a laid out plan for management of resources that will be needed to make it possible to produce and deliver the new product into the market. If resources are not properly managed then this project will not be successful.

Processes used in resource management

There area various techniques and processes that can be used in resource management. These are such as resource leveling. The aim of resource leveling is to ensure that the stocks of resources are smoothened so as to reduce any excesses in inventories and any shortages that might occur. The data that is required in this technique includes the demands for the resources, a time period forecast into the future which is far bur reasonable and the configurations of the resources that are required in the specific resources required. The other data required is that of the supply of the resources required followed by a forecast of the future which is far yet reasonable. The aim of this technique is ensuring that there is 100% utilization but in the real sense this is not easily achieved. Another process in resource management is conservation resource management .this involves a set of practices that pertain with the maintenance of the natural system. Another process of resource management is timeline planning. This technique is quite useful when it comes to understanding of the vents happening over a specific time frame.

Relationship between resource management strategies and effective timeline planning in business application

Effective timeline planning helps the organization understand what will happen over time. Resource management strategies mostly involve the forecasting of the future in terms of both demand and supply of resources. Effective resource management strategies all take into consideration the future of the business in terms of the resources. Therefore there is a close relationship between resource management strategies and effective time planning in that resource management relies on time planning. Time planning allows for the visual plot for the events that will happen over time (Lock, 2007). Therefore with time planning then the process of resource management will be successful. For instance in a business resource management development can involve the investment in resources that are retained in order for the development of a new capacity that a business had not been producing before so as to deal with a growing demand .timeline planning is what can be used in such a situation. This is because timeline planning will helps in forecasting of the future and thus business managers can be able to use the information from timeline planning to ensure that they invest on resources so as to meet demand in future.

Understanding the Principles of data collection and analysis in resource management

Objectives, data collection and analysis methods related to resource and management assignments.

Data collection and analysis is very important when it comes to resource management. The objectives of data collection and analysis methods used when it comes to resource management are many .They include ensuring that the exact data regarding the resources of a business are obtained as and when they are required. This means that only the data that is relevant and required is collected. Therefore there will be no room for collecting data that is not necessary for the resource management process. Another objective is to ensure that the process of analyzing the data is carried out smoothly and the results obtained are useful for the organization. Another objective is to ensure that after analysis of the data is done there will be recommendations given to ensure that any problem that might arise is solved.

Data collection aims and objectives

When it comes to resource management data collection is very important. There are various aims of data collection in resource management including; finding out the exact resources that are required and the quantities that they are required in. another aim is ensuring that data collected is useful and relevant for the operations of the business. The data should also be collected in a clear and precise way which makes it easy for interpretation and analysis.

Data collection and problem solving

Data collection and problem solving are quite related. This is because the data that has been collected can be used in solving problems that pertain to resources. For instance data collected can show that there are inadequate employees for a specific project. With such information the management of an organization can make an informed decision to hire more employees and hence the problem of employees will have been solved. There can also be an increase in demand for a specific product. Data collection helps in the identification of this and hence the managers can decide on increasing production in order to meet demands. Therefore, data collections go hand in hand with solving of problems. Without any information then there is no way a problem can be identified and hence can not be is therefore necessary to ensure that the process of collecting data is carried out very well in order to obtain data that will be useful for problem solving.

Understanding the Principle and application of phasing in resource management

Project planning methods that are structured provide the opportunity of placing modularity and structures in a project. This is normally accomplished through stage management or the breaking down of the plans into stages or phases and then ensuring that you identify the tasks and activities which are involved in those phases. Phasing is advantageous because a plan can subsequently be divided into a number of discrete deliverables .the phases can be constantly reviewed, authorized and signed hence they provide incremental deliverables. Phasing also helps in ensuring that there is no risk of non-payment. This is because there are usually sign offs at specific stages which are the billing points for those phases. Another advantage is the fact that there is dependency network between the tasks that are found within each phase. This means that the tasks carried out within the phases are related and interconnected and hence there is continuity in the entire processes (Lock, 2007).

Resource management tools

There are various tools that can be used for a successful resource management process. These include spread sheet and software programs. Most consultants use Excel for data manipulation and also as a form of capturing the data easily. Excel is a very powerful application that can be used for making tables, and representing statistics and planning graphs. Excel can deal with large numbers of data that are contained within a table. Once data is collected it is entered into excel sheets where it can be analyzed and conclusions made.…

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