Resource Planning and its Importance in Project Management
Project management is all about the careful Task Management and effective Resource Planning. The ability to finish the task within committed time frame and helping organizations to generate the extra revenue has made it even more popular. Although, there are a number of best practices and rules to Project Management success, but resource planning is considered as the building block for managing the project successfully.
What is Resource Planning?
Resource planning is described as the application of business resources to accomplish the project requirements and deadlines. It covers all the resources including human, equipment, costs and material. Costs and materials management is easy; you can easily purchase and stock them.
A successful project manager knows the importance of Resource Planning in Project Management.
That said management of the human resource is not the same. You cannot own or stock a human being, but nonetheless, you are required to retain it.
In these times, businesses work flawlessly only by proper resource management. A good resource plan includes the identification and deployment of ‘right men at right place’. Project financial impact on the reports and financial accounts of the business are also a part of good resource plan. Resource planning is very much linked to the scope and schedule planning. Human resources are important and are required to perform the tasks (scope) at a given time frame (schedule). A Resource Plan summarizes the level of resources needed to complete a project.
Following processes are included in the Resource Planning:
- Human Resource Plan Development
- Acquiring a Project Team
- Project Team Development
- Project Team Management
