According to the Resource Management Institute, the growth and popularity of the ever-evolving world of resource management is attributable to companies realizing “the many benefits of better managing supply and demand of human capital.” While businesses can gain insight into capacity issues and significant challenges in the way of achieving a project or product’s success with an efficient resource management solution, many companies first must come to realize the strategic value of resource management and capacity planning, and put in place the right people, budget and tools to make it a reality. In this article, we’ll be focusing on the importance of the right resource management solution.
For organizations to be able to analyze and properly allocate their resources, a resource portfolio management solution is key.
While many consider resource portfolio management (RPM) and project portfolio management (PPM) similar, what sets them apart is critically important for successful project management. Most PPM tools focus largely on the tasks required to execute a project. While PPM may take into account multiple projects, it is still structured to evaluate projects based on their individual requirements as opposed to how those requirements could create conflict across other projects in your portfolio. RPM tools take a holistic view of the entire project portfolio by broadening the planning horizon beyond task-based planning and focusing instead on how resources are being allocated and utilized throughout the organization, incorporating workload into the planning process. Project managers need to bridge resource management together with capacity planning. Capacity planning looks at the big picture of whether an organization has the person capacity and skill sets required to fulfill the demand of programs and projects. This is typically a strategic planning process that looks months or years ahead, taking time, skills, and demand into consideration.
The best solution for resource management and capacity planning needs to have:
- Resource capacity planning tools
- Project forecasting
- What If analysis
- Time tracking
- Customizable reporting
- Skills management
Tempus Resource gives customers a single platform for all resource management and strategic decision-making activities. Tempus gives customers the flexibility to create projects and allocate employees based on individual and changing enterprise needs. Tempus provides resource managers with actionable intelligence, cutting-edge analytics, and real-time scenario analysis, all while minimizing the overhead of managing a resource portfolio.
Tempus Resource by ProSymmetry is a purpose-built resource portfolio management solution providing many Fortune 500 companies with resource forecasting and capacity planning solutions to help make strategic decisions for their businesses. Tempus gives PMO leadership actionable intelligence, cutting-edge analytics, and real-time scenario analysis.
For more information, visit www.prosymmetry.com.