Resource Management. Exercise 11
Task 1 Resource Management study guide questions.
1.What is Resource Management?
Resource management is what companies use to improve profitability and use labor that is at the level the company needs. In this way, they are able to plan and schedule future events for the projects that the company develops.
2.Mention what is the importance of Resource Management in business.
The importance of resource management is practically based on the capital (human, financial, economic, etc.) that the company uses to maximize its utility and that is serving to position or lead the company to the presence we want to have in the market.
3.What are the Concepts and Components of Resource Management?
Define them in detailed.
Resource scheduling
It is to identify and allocate the resources that will be needed in a given time and the tasks that will be performed in different areas of the company.
2. Resource utilization
Resource utilization is measured according to the time that employees spend on the project tasks, the use of this indicator helps to reflect the results that the company will obtain.
There are different ways to measure resource utilization some of them are:
Overall resource utilization
Turnover utilization
Strategic utilization
Non-billable utilization
3. Resource forecasting
It is necessary to take into account the resources that will be used for the development of the company's projects in order to ensure that the project can be developed and implemented with the necessary resources.
4. Resource and capacity planning
Resource and capacity planning is necessary for a company to be able to manage the allocation and utilization of labor in a way that is efficient and fills the gap between capacity and demand.
5. Business intelligence and reporting
Business intelligence is necessary to be able to link every part of the company, see what resources are being used and relate it to the results it is having as projects are implemented, and use the data to produce reports that are clearer and easier to analyze.
4.What are the advantages of resource management?
They help to preview the resources that will be necessary to have in the company to be able to develop the projects that have been fixed. It is important to consider the resources before starting to make an action that will reflect a positive or negative result in the company. to evaluate the performance of the people also we must do it periodically to be able to maximize the utility that the company generates.
5.What are the skills that every resource manager should have? Explain each in detail.
1. Communication skills
Since they are responsible for responding to requests from project managers, they must do so in a clear and accurate manner
2. Conflict resolution
In the development of projects there may be confusions, conflicts or no criteria for the performance of tasks, it is easier to solve it quickly if we have the ability to resolve it.
3. Domain knowledge
They must master the tasks and know the skills that are necessary to do the tasks that were assigned to accomplish the project and avoid problems.
4. Proactive planning
It is utilizing all resources to the fullest and making everyone's work more efficient with the right people to perform the assigned task.
5. Negotiation skills
As it is a complex job and sometimes more people are needed to collaborate in the project, the resource manager must have the necessary skills to convince the project managers to add one more element.
6. Risk management
It is to plan options that can be used in case something goes wrong in the development of the project, it is to have variants A and B, for example.
Hello Karina, you were brief with your responses and I could understand you well, a difference between our answers is that you explained six skills that every resource manager should have and I explained only three: communication skills, negotiation skills, and risk management. Your work helped me to complete mine, thanks :)
ResponderBorrarour tasks are very similar, I agree with your answers and the importance of resource management in any company. Nice job
ResponderBorrar
ResponderBorrarHi Karina! I am glad for reading your work, I could realized about little details that I did not consider before, I am interesting in the skill “risk management”, I noticed you explained it in another way, but yours is more concise than mine, for example, I mentioned: “Risks are inevitable over the lifetime of a project, so a resource manager must be able to have an alternative plan in case of problems, perfecting his or her skills in managing surprise risks so that they do not affect the project being worked on”, In my opinion, this skills is absolutely important, because in most cases, people in the daily life cannot manage stress, so, to me, this ability is crucial. What do you think?
ResponderBorrarHello, I liked your information is very complete and as you explain that resource management is very important for any company or business, we have some very similar responses. Good job.