What is Resource Management?
Learn what resource management includes and how software can help you make optimal use the resources available.

When answering the question, “What is resource management?” it’s important to begin by looking at the steps involved in project planning. Project planning is the process of completing objectives or goals defined by a client and creating a final product known as a deliverable. While project management involves the steps of project planning, resource management refers to the materials and other expenditures used to complete a project. Another important question that must be answered in order to complete projects successfully is, “What is a resource manager?” As resources deal with budgets, invoices, and expenditures, a resource manager is the person who handles the financial aspects of a project. Understanding the role of resource managers helps ensure that projects are completed accurately and efficiently. Using tools designed for project management is a great way to ensure that you have the resources needed to produce deliverables.

Resource management is the aspect of project planning that focuses on the supplies used to produce a deliverable. Resource management often includes, but is not limited to, the cost of labor, the equipment that will be used to complete tasks, and the overall cost of materials. There are four phases in project planning. These include the initiation or start-up phase, the project planning phase, the execution phase, and project closure after completion. Resource management is an important part of the project planning phase, as it includes the financial cost of the resources used as well as the proposed timeframe to complete each task. As it takes people and teamwork to implement the resources secured, resource management also includes the allocation of various roles.

What is a Resource Manager?

The role of a resource manager is important throughout the project planning stage. A resource manager is in charge of ensuring that the resources required for a project are obtained, accounted for, and utilized. A resource manager ensures that each type of resource needed is identified. The amount of resources needed must be accounted for, and each resource’s purpose must be detailed as well.

What is a Resource in Project Management?

A resource in project management includes the materials, labor, tools, and equipment needed to complete a deliverable. A project manager must ensure that there is enough money allocated to buy needed materials. Additionally, the cost of each purchase must be accurately documented to ensure that the budget remains on track. As every project is different, so are the resources used to complete objectives. At InLoox, we offer the best software available for resource management. We also provide simple yet effective tools to ensure that you have everything for your project management needs. Our InLoox PM software is available for local installation or use online through mobile apps. We also provide Web-based capabilities that make it easy for anyone to access the program. Project management involves a number of different steps. By choosing the best resource management software, you can make certain your projects are easily accessed, shared, and updated.

What is Resource Management in Project Management?

Resource management is an important component of project management. It ensures that the project is executed according to the scope and overview determined in the planning phase. The resource management team helps in the development and management of the project team as well. As people comprise teams, resource management also involves establishing various roles and assignments throughout the project. With InLoox PM, you can easily assign team roles, create time schedules and budgets, and keep records of important financial data. InLoox integrates with Microsoft Outlook and is easy to operate and customize. Those using a workgroup may access InLoox through Microsoft Exchange Server.

What is Resource Allocation in Project Management?

Resource allocation is another important aspect of project management. Resource allocation involves determining how resources will be used and divvying up the money that is going to be used to achieve goals. With project management, a plan is devised that will produce a deliverable. Resource allocation is ensuring that those who have the responsibility of handling the finances and resources do so in an effective manner.

How to Allocate Resources in Project Management

Knowing how to allocate resources is a vital component in project management. Once a project has been initiated and a scope established, it is important to begin the planning stage. Software tools are a great way to ensure that you easily track important milestones and deadlines and remain on schedule. Additionally, you need to ensure that you can easily assign roles and delegate tasks when needed. InLoox PM offers a professional suite of tools that will help you allocate resources and bring your project to completion. We are giving away a fully functional, 30-day free trial of our InLoox PM software, so you have nothing to lose. Try us today and take charge of your project.