For any company that allocates resources from a shared pool, a high-quality and easy-to-use resource management platform is critical for optimizing workflow. However, because it’s still a relatively new practice, we still see some resistance to investing in resource management software across organizations.
Are you unsure whether resource management is right for your workforce? Or maybe you know your organization needs resource management, but you’re unsure how to get the greenlight for approval? Let’s take a look at how to best frame resource management so key stakeholders and decision-makers understand exactly what’s to gain… or what they risk losing by not investing!
Defining resource management
First and foremost, it’s critical to realize that the “management” in “resource management” means more than just “allocation.” It goes far beyond basic scheduling. The key to truly optimizing workflow is to understand which individual resources are best for a project based on their unique strengths, skills, and experience while also factoring in capacity and availability.
This is especially important when it comes to bottleneck resources, which refers to a popular skill possessed by a limited number of resources. If that skill is needed across multiple projects, timing and sequencing is crucial to ensure timelines aren’t based on an assumption that bottleneck resources can complete more work than is actually feasible
Resource management not only ensures that scarce resources are being used most efficiently, but also intentionally allocates resources to the projects where they will add the most value. This leads to more productive resources as well as higher quality outputs. And who doesn’t want both of those things?
At its core, resource management drastically improves decision making so the project portfolio can be executed in the most efficient way possible. Put another way, it’s the key to strategy execution.
Even the best strategies in the world can’t be executed if your resources don’t have the skills to complete the work. It’s as simple as that. Although capacity planning takes place months or even years ahead of resource planning, a powerful resource management system is what enables organizations to see whether or not they have the resources necessary to deliver the portfolio.
By identifying potential problems during the capacity planning phase, organizations can remedy skills and labor shortages far in advance. Solutions may include upskilling, hiring, or finding contractors depending on the need. When you have a resource management tool that provides both capacity planning capabilities and skills management, you can plan ahead instead of scrambling to find a solution at a critical juncture in the portfolio.
What-if scenario planning
I’m sure we’re all familiar with the old adage “the only constant is change.” This is just as true for project portfolios as it is for anything else. Even crystal-clear strategies that are perfectly-resourced and sequenced are going to run into obstacles or changing conditions.
That’s when you need a powerful scenario planning tool like Tempus Resource’s what-if analysis. This scenario-building laboratory lets you test infinite possibilities—from pausing, canceling, or delaying projects to increasing or decreasing headcount to moving projects or resources to a new location and so much more—without altering your real data. This kind of insight allows organizations to find the very best strategic alternatives to continue moving the portfolio forward.
From building high-functioning teams around critical projects to forecasting capacity to improving decision making to increasing employee productivity and retention, the positive effects of resource management touch nearly every part of a company. When properly executed, the positive effects can’t be overstated. Investing in a robust resource management platform gives organizations the tools, data, and capabilities necessary for ongoing success and strategic growth. That’s an investment you can’t afford NOT to make.
Want to learn more about how Tempus Resource can help you get the most out of resource management? Contact us today or schedule a demo!