Basic Practice Career Professionalism LO2 RESOURCES UTILIZATION AND MANAGEMENT 3.2.5
Summary
TLDRThis script discusses strategic planning and resource management, emphasizing the importance of efficient resource utilization for project success. It outlines the process, including resource estimation, allocation, leveling, and release. The script highlights the need for regular follow-ups to ensure diligent work, the provision of tools and training, and the measurement of resource performance. It also stresses the implementation of best practices for effective project execution.
Takeaways
- 📊 Strategic planning is essential for effective resource utilization in managing projects.
- 📋 Resource management involves organizing and allocating personnel and equipment efficiently to avoid idle resources.
- 📅 Having resources available at the right time is crucial for managing project costs and ensuring smooth execution.
- 👥 Resource management includes financial resources, inventory, human skills, production, and IT resources.
- 🔧 Key activities in resource management are resource estimation, allocation, and leveling.
- ⏳ Resource estimation helps determine how long a project will take and the human resources required.
- 📈 Resource allocation focuses on optimizing asset use to minimize costs and maximize profits.
- 🚦 Follow-up during project execution is essential to ensure timely progress and address any issues.
- ⚖️ Resource leveling balances uneven workloads among employees to improve efficiency.
- 📊 Measuring resource performance helps learn from projects and apply best practices for future success.
Q & A
What is strategic planning as defined in the script?
-Strategic planning is not explicitly defined in the script, but it can be inferred as the process of setting objectives and developing strategies to achieve those objectives over a long-term period.
Why is effective management of resources essential for companies managing different projects?
-Effective management of resources is essential for companies to efficiently organize and allocate personnel and equipment for different projects, avoid idle resources, manage costs, and execute project activities smoothly.
What does resource management involve?
-Resource management involves planning activities, resource estimation, request for resources, allocation activities, resource allocation, resource leveling, and the allocation and release activities.
How does resource estimation work in the context of human resources?
-Resource estimation involves determining the necessary human resources and other materials and equipment for a job. It includes estimating the time required to complete a project, the deadline, and calculating the number of employee hours needed.
What are the reasons companies allocate resources?
-Companies allocate resources to minimize costs while maximizing profits, structure operations using strategic planning methods, establish operational guidelines, and implement policies and procedures to achieve business goals.
What are some reasons that might cause the performance of allocated activities to get stuck?
-Reasons include unforeseen complications, innocent errors not discovered until too late, overlooking necessary functionality, and lack of expertise in advanced constructs of the programming language.
How frequently should you follow up on work being performed by staff according to the script?
-The frequency of follow-up depends on the duration of the work: for very short-term allocation (less than half a day), follow up as soon as the work is completed; for one-day allocation, follow up twice; and for work consuming more than one day, follow up daily and as soon as the work is completed.
What is the purpose of following up on work being performed?
-Following up ensures that work is completed, bridges communication gaps, and gives resources a feeling that their work is important, which motivates them.
What is resource leveling and when might it be necessary?
-Resource leveling is the process of balancing work activities among employees when the workload seems to be distributed unevenly.
How can allocated activities be ensured to be performed effectively?
-Allocated activities can be ensured by providing good supervision, clear instructions, achievable targets, expert assistance, the right tools and techniques, sufficient training, quality assurance, and an achievement-oriented environment.
What happens during the allocation and release activities?
-During allocation and release activities, once all planned activities for a resource are completed and no further allocation is planned, the resource is released, such as human resources to HR departments or computer resources to systems administration departments.
Why is it important to measure the performance of resources and resource management effectiveness?
-Measuring performance helps in learning lessons and implementing preventive actions for future projects, thus improving resource management.
Outlines
📈 Strategic Resource Management
The first paragraph discusses the importance of strategic planning and effective management of resources for companies handling multiple projects. It emphasizes the need for efficient organization and allocation of personnel and equipment to avoid idle resources. The process of resource management is outlined, including planning, allocation, and leveling. The paragraph also covers resource estimation, which involves calculating the necessary resources, including human and material, to complete a project within a deadline. It further explains resource allocation, which is about using available assets optimally to minimize costs and maximize profits. The paragraph also addresses potential issues that can arise during project execution, such as unforeseen complications, errors, overlooked functionality, or lack of expertise, and the importance of regular follow-ups to ensure diligent and accurate work.
🛠️ Facilitating Resource Allocation and Release
The second paragraph focuses on how to ensure that allocated activities are performed effectively. It suggests providing facilitating supervision, clear instructions, achievable targets, and expert assistance when needed. The importance of providing the right tools and techniques to complete work quickly and defect-free is highlighted. The paragraph also stresses the need for sufficient training of resources and quality assurance for timely work completion. It discusses the process of releasing resources once their allocated tasks are completed and no further allocation is planned, with examples such as releasing human resources to HR or computer resources to systems administration. The paragraph concludes by emphasizing the need for careful planning, scheduling, and utilization of limited resources, as well as measuring performance and effectiveness to learn lessons and implement preventive actions for future projects.
Mindmap
Keywords
💡Strategic Planning
💡Resource Utilization
💡Resource Management
💡Resource Estimation
💡Resource Allocation
💡Resource Leveling
💡Performance Monitoring
💡Progress Chasing
💡Quality Assurance
💡Release Activities
💡Best Practices
Highlights
Define what is strategic planning
Process involved in resource utilization
Importance of effective management of resources for companies
Efficient organization and allocation of personnel and equipment
Avoiding idle resources and managing costs
Role of resource availability in project execution
Resource management includes planning, allocation, and release activities
Resource estimation involves estimating necessary resources for a job
Determining human resources utilization in project management
Resource allocation is about using available assets efficiently
Reasons for resource allocation: minimizing costs, maximizing profits, structuring operations, and implementing policies
Variability in the allocation process based on project type and assets
Challenges in performance of allocated activities
Importance of following up on work performed by staff
Guidelines for how frequently to follow up on work
Resource leveling to balance work activities among employees
Ensuring allocated activities are performed through supervision and support
Providing the right tools and techniques for efficient work completion
Allocating and releasing resources when no further allocation is planned
Measuring performance and effectiveness of resource management
Learning from best practices during project execution
Transcripts
resource utilization and management
learning objectives after viewing this
information
sheet you must be able to 1.
define what is strategic planning
2. enumerate the process involved in
resource utilization
effective management of resources is an
essential task for companies that are
managing different projects
it is important for them to efficiently
organize and allocate personnel as well
as equipment for different projects
same time avoiding idle resources
having the information about the
availability of the resource
and have them available at the right
time for the activities plays a vital
role in managing the
costs and smoothly executing the project
activities resource management is the
efficient and effective deployment of an
organization's resources when they are
needed
such resources may include financial
resources
inventory human skills production
resources
or information technology high tea
management of resources includes the
following activities
1. planning activities resource
estimation
request for resources 2. allocation
activities
resource allocation resource leveling
3. the allocation and release activities
resource estimation first step is to
estimate the necessary resources for the
job will include both human resources as
well as other materials and equipment
human resources utilization and project
management can be determined by
determining how long you think your
project will take
estimate the date when it must be
completed
divide the number of hours by the number
of weeks until the deadline to get the
number of employee hours needed for the
job
example for instance if it will take you
100 hours to manage a software upgrade
and you need to have it done in 3 days
24 work hours
then you need a combination of four
full-time and part-time workers
resource allocation is the process of
determining the best way to use
available assets or resources in the
completion of a given project
companies attempt to allocate resources
for the following reasons
uh help minimize costs while maximizing
profits
b to structure the operation by using
strategic planning methods
c establish operational guidelines
d implement policies and procedures that
move the business toward the achievement
of its goals
the actual process will vary depending
on the type of project
undertaken and the collection of
tangible and intangible assets on hand
performance of allocated activities gets
stuck due to many reasons
such as 1. some unforeseen complication
crops up and the activity gets stuck or
delayed
2. the person commits an innocent error
that is not discovered until too late
rework becomes necessary 3.
the person by oversight ignores some of
the necessary functionality
which gets unearthed during qa 4.
the person is not expert in some
advanced constructs of the programming
language and is struggling to achieve
the specified functionality
therefore it is necessary to follow up
the work being performed by your staff
periodically
your guidance is ensures that work is
performed diligently and accurately
how frequently should you follow up the
work being performed
these guidelines generally work very
well one
for very short-term allocation say less
than half a day
follow-up as soon as the work is
completed
two for allocation that consumes one day
follow up twice once in the middle of
the day
once as soon as work is completed 3.
for allocated work that consumes more
than one day
follow-up daily and as soon as the work
is completed
this follow-up is often referred to as
progress chasing
this not only ensures that work is
completed but also bridges communication
gaps
if any besides giving the resources a
feeling that their work is important and
motivates them
resource leveling when the workload
seems to be distributed unevenly
you may need to explore the process of
resource leveling
which lets you balance work activities
among your employees
then how do we ensure that the allocated
activities are performed
first provide good supervision that is
more facilitating than overbearing
give clear instructions achievable
targets
and provide expert assistance when
necessary
provide the right tools and techniques
that assist the team members in
completing their allocated work quickly
and without defects
ensure that the resources are
sufficiently trained to perform the work
allocated to them provide quality
assurance for the work completed on time
overall provide an achievement-oriented
environment that encourages resources to
excel in whatever they do
the allocation and release activities
once all the planned activities to be
completed by a resource are completed
and no further allocation
is planned for the person or object we
need to release that resource
example we release human resources to an
hr department or resource allocation
department
computer resources to the systems
administration department
and monetary resources if any remaining
to the finance department
resources are always limited they need
to be planned
scheduled and utilized carefully
we also need to measure the performance
of the resources and resource management
effectiveness
so that lessons can be learned and
preventive actions implemented for
future projects
you also want to take advantage of the
best practices on earth during the
project execution
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