Resource allocation often leads to overtime and overspending on financial resources. Overallocation of a resource is when a resource has been assigned more work than can be completed during normal work hours. This is where the resource or organizational breakdown structure meets up with the work breakdown structure to assign responsibilities to the various branches in the hierarchy. Here, you will break down the resources required to complete the project in a hierarchy – as you would in a work breakdown structure or an organizational breakdown structure. The resource plan should contain all aspects of your project from beginning to end that pertain to resources required. Elements of Resource ManagementĮvery project plan should have a resource plan as its component. There are, therefore, many types of resource management, depending on the type of project you’re working on. For example, if you’re planning an event, a few resources include scheduling out staff for the event, planning what vendors to use for promotional materials, investing software that allows attendees to register, and budgeting for everything from giveaways to catering. A resource is anything that is needed to execute a task or project - this can be the skill sets of employees or the adoption of software. Resource management is the process of pre-planning, scheduling, and allocating your resources to maximize efficiency.
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