What Does It Look Like?
Now that you understand what resource management is, let’s look at how resource management operates. While resource management can look a little different in every organization, there are generally three stages to resource management: (1) planning and estimating resource demands on projects in the portfolio, (2) prioritizing which projects get staffed first, allocating resources to projects and scheduling projects and resources, and (3) monitoring how resources are performing and resolving resources conflicts that arise in execution.
During the planning and estimating stage, the required demand for projects is forecasted. Planning includes what specific skills are needed for each project and if there are specific individuals needed for the project. Once the forecasting is completed, the prioritizing, allocating and scheduling can begin. When assigning resources to projects (also called allocating), it’s important to prioritize the most important project first. This ensures that the most important projects in your project portfolio have the manpower they need to be completed. Good allocation also means that resources aren’t overbooked on projects. To achieve this, projects are scheduled only when resources have availability. Once projects are in motion, a resource manager may use leveling to resolve resource conflicts. Leveling is extending project deadlines or otherwise altering a project to match the actual available capacity of your resources. For example, if you don’t have enough developers available to finish a project on time, you will need to extend the deadline to work at the pace of the developers you do have available. By monitoring projects regularly, resource conflicts can be spotted and fixed more quickly.