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farmerswife Blog

What is resource management?

By Stephen Elliott on July 17, 2018 in

resource management

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Resource management is the combined effort of managing and assigning your organization’s resources like team members, budgets, and capacity. Successful resource management depends on three main capabilities:

Insights
Granular insights into what people are working on and how long each task takes.

Priorities
Clearly articulated priorities and project expectations shared across the organization.

Tracking
Real-time tracking and status updates throughout the entire project life-cycle.

Resource management has 2 main phases

Resource Planning
From a high level, resource planning is the step in the project outline where you identify all of the resources that will be necessary to complete a given project. You aren’t assigning specific tasks to anyone, or allocating budget, just laying the foundation for what you expect.

You want to look at a few “what if” scenarios to make sure you know how other priorities and timelines are impacted. Resource planning helps you avoid blown budgets, missed opportunities, and miscommunication across tasks and teams.

Resource Scheduling
During the scheduling phase, you compare resource needs against resource availability. You look back at the forecasted resources (time, budget, and skills) and determine where they overlap with your team’s current workload.

Use the information about availability to make assignments based on team members’ abilities. It’s important to remember that different people have different skills. Scheduling tasks based on individual strengths helps improve project turnaround rates. Plus, when people are doing work that they’re good at, they’re usually happier and more engaged.

Benefits of resource management

Maximize Your Team’s Efficiency
Effectively harnessing the power of your people through streamlined resource management has the potential to save you time, energy, and money. With accurate information about resource availability, you’re able to accurately scope, prioritize, and track projects from start to finish. The right resource management tools allow you to:

  • See who is working on what
  • Make real-time adjustments
  • Know when projects are at risk
  • Respond quickly to shifting priorities
  • Take advantage of last-minute opportunities

Improve Team Morale
Increased project efficiency does more than improve your bottom line, it also boosts morale. When your team is constantly met with roadblocks and impossible workloads, their job satisfaction plummets and productivity goes down. That’s why accurate planning and forecasting tools are so critical—no one ends up with too much work and everyone feels valued.

Deliver Reports & Insights
To remain competitive and prove your team’s value, you need to be able to quickly analyze performance and make improvements. By integrating scheduling and rate card functionalities in the same database, all your project’s financial data will automatically update when budgets and quotes are created or amended and resources scheduled. 

You’ll never be able to streamline processes if you don’t have accurate information about your projects and resources. Keep executives in the loop and make sure you’re able to demonstrate your successes or make corrections where projects might be going off-track. 

Resource management with farmerswife

Smart resource management requires smart tools. farmerswife intelligently distributes and assigns work to teams, groups, or individuals based on availability and skill requirements, ensuring that the right people are doing the right work. 

Resource management software

Resource management software such as farmerswife uses smart tools to remove manual processes and seamlessly connects people to work, in real-time. It lets you see all relevant details in one place and provides a centralized location for your team to collaborate. 

farmerswife is smart, connected, and agile and takes the pain and guesswork out of resource management.

What are you waiting for? 

GET YOUR FREE DEMO

farmerswife brings together all aspects of work so your team can complete their work faster than ever. Smart resource management planning, scheduling, and capacity tools to make sure your people are working on the right projects, at the right time and in the right place.