Resource Management Concepts

Resource management is the systematic and strategic process of planning, acquiring, allocating, and optimizing the various resources required to successfully execute a work. These resources can include human resources (project team members, stakeholders, and experts), physical assets (equipment, materials, facilities), and financial capital.

The goal of resource management is to ensure that the right resources are available at the right time, in the right quantities, and with the appropriate skills and expertise, to meet project objectives efficiently and effectively. It involves identifying resource requirements, estimating resource availability and constraints, developing resource plans, and continually monitoring and adjusting resource usage to maximize productivity and deliver work on.

Last updated Aug 2023