It is tough to crack resource management without the right tools and techniques. It doesn’t matter how well you have mapped out projects; it is nearly impossible to meet the demands and finish projects on time without complete resource visibility.
To effectively and efficiently manage resources, you need to have answers to some questions, including who all are available today? What about teammates’ workload today? When to make new recruitments?
So, if you need answers to such questions and start with resource management, you have come to the right place. We have curated the top 5 basic resource management tools to enable you to manage even an extensive resource pool with ease.
What is resource management?
The process to use the organization’s different resources, including people, tools and equipment, material and supplies, money, space, and time most effectively and efficiently.
For successful completion of projects, resource management refers to:
- Tracking, and
- Optimization of the usage of available resource
What is the importance of resource management?
Resource management is vital for any organization due to following reasons:
- Provides information regarding everyone and everything included in the project
- Analyzes available resources and helps with timelines and deadlines
- Ensures a transparent planning process
- It provides the scope to act proactively in case of any discrepancies
5 simple resource management tools
Here are the most simple tools that the project manager uses to apply resource management techniques.
These tools enable the project managers to plan, use, and monitor the different available resources in the company. Visit runn.io to gain detailed insight into the most basic yet crucial resource management tools.
Resource Management Plan
The first and foremost for scheduling the resources are, to begin with, a plan. It acts as a bedrock on which the management process is built.
Start with making a detailed list of different available resources that might be useful for the project completion. Keep in mind that the more extensive and detailed the list, the better is the planning stage.
Remember, it is a planning stage, so you should involve every member of the team as the person might need additional resources than expected by you. Additionally, you should incorporate essential and non-essential equipment and team members.
Resource planning is more like financial planning. So, it is better to plan for items you need and might need in the long run. That way, you don’t end up buying expensive equipment at the last minute at premium costs.
Resources Breakdown Structure (RBS)
After creating a detailed list of resources, the next step is to sort them in order. The creation of hierarchies of the available resources is known as Resouces Breakdown Structure (RBS).
It could be as per the hiring organization or by geography. But, all resources on which the funds are spent must be categorized under hierarchies.
Responsibility Assignment Matrix
Now that the resources are successfully listed and organized, it is time to define the responsibility of each resource for project completion. It is known as the Responsibility Assignment Matrix (RAM). It is the right tool for clarifying the roles and responsibilities of the resources involved in the project.
The project manager can break it down as follows:
- Who is responsible for doing which tasks?
- Who owns that task?
- Whom to consult in case of queries regarding the task?
- Who to inform regarding the project progression?
It is a resource scheduling tool. It is used to reallocate workload, depending upon the availability of manpower, over-allocation, or under-allocation to personnel.
It provides a visual of the resources allocated to the project. Using this, you can quickly and easily visualize the resource allocations. This way, you get to know whether someone is over or under-allocated. Afterward, you can deal with the person dealing with overallocation quickly. The same workload can be reallocated to someone with an underload.
Time tracking software with Invoice management
This simple resource management tool allows the team to convert timesheets into useful reports. It offers several ways to track team members’ time, generate project reports, and invoice management.
Using this tool, the project managers can:
- Keep track of team members’ performance,
- Billable time,
- Employees overtime,
- Track progression of the project,
- Create invoices, depending upon the tracked time
It is difficult to manage the resources involved in a project. There are so many things to do that it could get all complicated and confusing most of the time.
However, with the right resource management tools, you can plan, monitor, and report on the resources with greater accuracy and control.