Resource planning

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Using project capital

Resource planning is often referred to as ‘resource management’ and is concerned with the question of how to use resources effectively, efficiently and economically. Resources cost money for a company, which is why they need to be managed carefully. Otherwise it can throw off the whole schedule if the right resources are not available when they are needed. Businesses need to make sure that they procure them in a cost-effective manner and that they will generate value for the company. Resource management ensures that the project is on time and scope through the effective allocation of resources. It also makes sure that team members understand what their roles and assignments are. Thus, it is an integral part of the project planning process. It is easy to lose track of all the details in resource management, but nowadays there are resource management tools that can help you easily assign roles and tasks as well as track time and budget.

Some steps of resource planning:

  1. Resource plan and schedule
  2. Resource allocation
  3. Resource collaboration and tracking  

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