Managing a large-scale project is a challenging job. Many variables can affect the successful execution and delivery of an assignment. With practical tools, you can manage your resources better and keep track of your progress. Not only it benefits organizations with increased productivity, but it also takes away extra workload from the staff and prevents burnout.
What is Resource Planning?
Resource planning, in simple words, is the tactical management of resources by procuring, allocating, and sustainably utilizing required material and immaterial assets. Resources include everything needed to take a task from its inception to completion- human capital, finances, workplace, machinery and equipment, software, and administrative duties.
Since the investments are resource-centric, using them judiciously is essential to the company's operations. Now, Organizations focus on resource planning to maximize their potential by effective scheduling and ensuring employee satisfaction. When administered correctly, enterprises achieve greater flexibility and maximum efficiency.
Why is Resource Management Critical?
Judicious resource planning leads to a smooth execution of a project. It helps to determine the availability and workload of the team members. It ensures that a project is delivered timely with complete accuracy. There is no added stress of depleting supplies, and everyone can focus on carrying out their task. Short response time supports quick resolution for any obstacle that may come in the way.
Proper resource planning equips businesses to adapt as the market evolves and priorities change. Strategies that worked brilliantly in the past may not solve the problems of the present scenario.
There are many ways of resource planning. It can be as simple as maintaining a spreadsheet. Today, there are
resource management tools in cloud-based task managers that help to allocate resources in a manner that is convenient to the company as well as the staff. It helps them view the accessible resources, categorize them per need, and view the company's overall functioning. It allows a clear broader picture and helps monitor solo projects too. The team can add their credits like specific skills, experience, availability, rate per hour, present undertakings, etc. With
resource management software capabilities, businesses can easily plan their resource allocation and track capacity.
Resource Management vs. Capacity Planning
Resource management and Capacity planning are two different but related concepts. They go together when it comes to efficient workflow management. The former is practical and strategic planning, prioritizing, and allocating resources (staff, finances, technology, and hardware) for proper utilization and minimal wastage.
Capacity planning, on the other hand, is the assessment of available resources to determine whether there is a prospect to take up a new workload. It is a high-level process that involves evaluating the availability of departments or machinery to determine if the current position can meet customer demands.
Resource management refers to procuring and strategically using required assets, while capacity planning assesses those resources. Thus, both tools work harmoniously to provide enterprises with the best project management software.
Top Advantages of Agile Resource Management Software
An adept Agile Management System has a comprehensive set of tools to make the most of the available assets without exploitation. They increase the functionality of an organization through strategic tracking and real-time reporting.
When a company expands, projects start running simultaneously. Avoid overload or under-utilization of resources with strategic planning. The software recommends the best-suited candidate for the tasks based on several factors, such as skills, positions, current availability, etc. Assign the charges to the most qualified candidates to ensure quality work in the stipulated time, every time.
Organize and Assign Tasks Efficiently using Resource Management Tools.
Competent project management software has comprehensive tools that enable you to view your team's schedule and prioritize your projects accordingly. You can set custom capacity targets at enterprise and individual levels and determine whether you have enough workforce to accommodate changes in task expectations and available personnel. Thus, strategize your current utilization and also predict requirements for future endeavors.
Capacity Planning Tools Help You Track Team Availability And Workload Capacity.
The team members can experience burnout if extra work piles up. Alternatively, they can also mismanage their schedule and waste time. Employees must understand their timetable and precisely what a holistic calendar integration enables. If there is a common platform to track the work of the involved personnel, they will feel empowered to discuss work overload or under-compensation.
Calendar integration allows risk mitigation and conflict resolution supporting round-the-clock monitoring and conductive remediation.
Capacity Planning Tools for Custom Calendar Integration
A high-level custom dashboard is essential to
Manage and Distribute Resources with a High-level Customisable Dashboard
resource management as it helps to track your progress and analyze the data from your ongoing projects. It makes planning future projects convenient by evaluating the available resources and budget. You can see the best possible outcomes before setting a project schedule, as the system coordinates with you to build a proper plan, accommodating changes with each detail. Each company is different, and with suitable
capacity planning tools, you can integrate your dashboard with your CRM to customize an interface unique to your requirements.
Tracking expenses can be difficult, especially with multiple projects. PMI reports that enterprises can complete only 60% of projects within the set budget’ the rest fail.
Track Budget and Forecast using Resource Management Tools
Resource management tools help the manager track expenses and plan future billings by setting milestones.
You can also see how adding or removing members from the team will affect productivity and timeline. For example, you can hypothesize scenarios like "what if we lose three designers?" or "what if we add two software developers?" and determines the effect it will have on the project.
Coexsys Resource Management and Capacity Planning Tools
Coexsys brings you an enterprise-grade global integrated project manager with
resource management tools to help you manage your most expensive and vital resource- employees. Get a comprehensive overview of your project objectives, manage your team's availability, set custom capacity targets per the resource bandwidth, and submit deliverables within the deadlines. Scale your productivity with effective resource allocation and capacity planning.