The Importance of Effective Resource Management

You know how the old saying goes: if you want something done right, put a project manager in charge. When it comes to seeing assignments through to a successful conclusion, management is absolutely essential for a variety of reasons, foremost of which is the ability to achieve efficiency in every area of a project. That efficiency covers a broad scope, but resource management is a vital part of making sure your team starts on the right foot and gets to the finish line on time (and on budget).

Why Is Resource Management Important?

Resource management is what makes the world go round when it comes to your projects. It is the ability to schedule and deploy available resources over the course of a project. While anyone can do that, it takes a special project manager to do it well. Without proper management of your resources—your team, supplies, and the budget to put it all together—you are far less likely to meet deadlines, certainly not in as economical a manner as you would like.

What Makes for Effective Resource Management?

The name of the game is efficiency, which means planning ahead. Taking things from a more macro perspective—looking at an entire quarter or even a year of your company’s projects as opposed to a case-by-case basis—puts you in a unique position to succeed in the long term. Managers who embrace the importance of resource allocation are the ones who have an intimate knowledge of their needs, not just in a given week but for entire months at a time. The better you are at forecasting, the better you’ll be at deploying your workforce to the appropriate tasks at the appropriate time.

Best Practices for Resource Management

Planning and tracking go hand in hand. Taking a detailed accounting of your tasks on a micro basis gives you the ability to see the big picture later. When you’re faced with a year-over-year overview of your costs, team accomplishments, and number of hours devoted to each task, you will be better able to notice trends and apply them to the tasks ahead. Any role with such an emphasis on forecasting is going to be susceptible to variance—projects will change along with clients, and there are plenty of areas where your best laid plans won’t hold up to chance—but a detailed approach today will give you more tools to work with tomorrow.

Let Journyx Help

Resource management requires a plan, and since you don’t have a crystal ball, the next best thing is having the proper toolkit in front of you. Time is money, and anything that lets you create a plan in less time (without sacrificing accuracy) is a valuable asset. Journyx’s unique tracking software is that exact asset, providing you with a detailed look at your past resource allocation so you can maximize your resources going forward. Request a demo today to find out how we can help level up your management skills!