Question

what are the advantages of resource management?
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Answer 1

Answer:

Centralized, automated resource management systems reduce errors and the cumbersome nature of upkeep. Not only does software improve revenue, maximize earning potential, and increase customer relationships, it greatly reduces administration costs associated with out-of-date systems.

Explanation:

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Answer 2

Optimal utilisation of all resources

• As a word that is constantly overused, optimal comes with the baggage of sounding like a measure for everything tangible while resource utility is fairly intangible. Optimal utilisation, however, refers to finding the right balance between maximising the productivity of a team and at the same time making sure that they do not feel overworked. This balance not only factors in each individual’s committed number of hours but also ensures that the hours are reflective of actual project progress as opposed to other non-project activities.

Skill-based allocation and utilisation

• Drawing from the previous point, your allocations have to be based on the right fit for individual tasks as opposed to basing them on the virtue of availability alone. This way, an employee’s skills, both primary and secondary, come to light. Such comprehensive utilisation lets them map an individual growth trajectory and stay challenged.

Plan your capacity in the context of the demand you foresee

• This is perhaps the most significant takeaway of scientific resource management. Capacity planning lets you design a workforce that exactly matches the demand you are facing and are likely to face in the near future. In addition to letting you plan ahead in terms of the specialised skill sets you require, it also gives you the insights required to plan availability too.

Be in a better position to plan

• Business efficiency stems from your ability to be futuristic in terms of the decisions you take as well as the meticulous planning you can put into your projects. This depends on the insights you can draw from capacity vs demand reports as well as the organisation wide visibility of all resources and timelines that you can muster.

Enjoy enhanced ROI as a result.

• Increasing the profitability of projects is every PMO’s list of priorities. And an overall increase in efficiency is why project management is getting more popular than ever.