As a project manager, you’ve experienced the anguish of your project getting derailed in terms of budget or a timeline being missed because of a lack of or inaccurate resource planning. However, drafting an efficient and accurate resource management plan while keeping in mind the project’s requirements, schedule, and cost can be like walking a tightrope, isn’t it? You may be able to identify all the resources you need and create a schedule too, but assigning the right resources to the relevant task and maintaining a balanced workload distribution can be tricky. So, what’s the right way to nail this?
Implementing the apt resource planning software can enable you to efficiently manage your project and resource planning, design effective and feasible schedules, and achieve optimal resource utilization. But before going any further, let’s first understand what a resource plan entails.
Resource Plan: Definition
A resource plan is basically a structured document that lists all the resources, including human resources, machinery, tools, finances, and facilities, required to execute a project successfully. For any kind of project, such a document aims primarily at the people, their skill set, availability, and workload as per the stipulated timeline. This plan enables project managers to handle all the resources according to the schedule to be able to meet the timeline. Creating a detailed resource plan in the early phases of planning is a key step in project management. The benefits of capacity planning during the kick-off phase include better results and higher productivity.
Inclusions of a Resource Management Plan
A typical resource management plan includes various elements. Read on to learn some of the key elements you must include in your resource plan.
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List of all the required resources
Including an inventory list of all the resources or assets that would be needed to develop a project end-to-end and complete it successfully is very important.
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Scheduling and allocation strategy
Before deciding which resources to allocate on a project, it’s important to find their availability and then allocate them to various tasks or particular activities if they have the capacity to suit your project schedule.
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Resource schedule
The timeline or schedule is a key element in a resource plan as it outlines the duration and timeline from which you require each resource throughout the project.
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Organization chart
Representing the project team, stakeholders, and their reporting structure in a visual manner is important. A visual chart or piece of data helps to get clarity on various aspects in a single view. An example of effective visual data is a Gantt chart, which helps give clarity on responsibilities, the status of items, and a lot more in just one view.
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Time-tracking
By accurately tracking the time needed for each task by each resource, you gain a clear insight into how much effort is needed to complete a task and, therefore, how many resources are needed for what time.
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Estimated budget
Another key element to consider while making a resource plan is the budget or the cost of each resource, like staff, equipment or machinery, other expenses such as rent, etc.
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Risk mitigation plan
It’s also important to have a contingency plan or strategy in mind. This plan must include an approach for addressing issues such as scope creep, sudden resource shortages, or other changes in resource availability. A risk mitigation plan includes adjusting the schedule or having a backup in mind.
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Defined roles and responsibilities
It’s also imperative to clearly define various people’s roles and responsibilities in the resource management plan to calculate the time and effort each task will take, as well as for the purpose of accountability.
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Performance metrics
Determining the key performance indicators (KPIs) that accurately measure efficiency and lead to adjustments, if required, is very important.
Steps to Build a Results-Driven Resource Management Plan
Let’s now explore the steps to design a resource management plan that can get you the results you aim to achieve.
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Define the scope and project’s objectives
The first step is to gauge and define the project’s scope and primary objectives. This helps to set the groundwork for finding the right type and number of resources required. Next, you must outline the key goals that the project aims to accomplish, the various milestones and deliverables, and the estimated timeline.
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List the resources required
Next, you need to draft a detailed list of each type of resource you would need in various phases of the project, such as employees with specific competencies, expertise, experience, tools, materials, finances, and facilities.
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Calculate the quantity of resources needed
Now, calculate the exact quantity or amount of resources required for each project. For employees, determine the number of people needed in each role, their level, and the expertise and skill set needed. For tools and equipment, estimate the quantities as per the project specifications.
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Allocate the resources to the tasks
The next step is to allocate the identified resources to various tasks or projects. In doing so, consider any limitations, like availability, cost, or task dependencies.
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Design a resource schedule
Now, it’s time to create a detailed resource schedule listing the duration for which each resource is required. This resource schedule must align with your project’s schedule and also consider any task dependencies.
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Monitor and make adjustments
Finally, it is important to regularly track the implementation of the resource plan and keep adjusting it. You can reallocate any resources as needed, depending on the dynamic requirements or any unforeseen roadblocks.
Resource Planning Software: Significance and Benefits
Resource planning software plays a vital role in restructuring the entire resource planning and management process. These tools come with various features that are designed to streamline the resource planning process for you.
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Resource allocation and utilization tracking
These software help to allocate and schedule various resources efficiently to the right tasks and projects and then regularly monitor their usage through the project lifecycle.
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Ensure better collaboration
Such tools also offer collaboration features that help distributed teams to collaborate and communicate more seamlessly, share updates, and work together in real-time.
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Reporting and visual dashboards
Some resource planning tools also have visualization tools built-in, which offer clear insights into resource availability, utilization, project status, etc., and help project managers make data-driven decisions. The tools also help provide detailed reports showcasing resource usage, any probable red flags, or potential risks.
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Forecasting
Advanced resource planning software has built-in forecasting capabilities that help predict resource needs in the future based on existing trends and data. This data enables optimizing resource planning and allocation to bring better efficiency.
eResource Scheduler – Build Result-Oriented Resource Management Plans and Optimize Your Resource Efficiency
Opting for a top-rated resource planning software like eResource Scheduler enables you to create a results-oriented and data-driven resource plan and optimally utilize your resources. This tool also assures efficient staffing and aligning the best people for the right projects and tasks as per their skills and expertise. What’s more? eResource Scheduler also provides you with real-time visibility of project status, resource availability, productivity, etc. Raise your utilization anywhere from 18 to 30% with this best-in-class tool and design hiring plans that are based on forecasted shortages or surpluses. Are you aiming to nail efficient resource planning and resourcing decisions? Sign up and take a free trial soon and make a wise choice.
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