11 - Resource Management study guide questions.

Task 1 Resource Management study guide questions.

1.What is Resource Management? Resource management is the planning of the resources that the company has and allocating them appropriately within the category of human resources, assets, facilities, equipment and more, to improve the profitability of the company.

2.Mention what is the importance of Resource Management in business. 

It is very important for companies because you can be prepared for the good or bad that can happen in the company and be able to make decisions based on this.

3.What are the Concepts and Components of Resource Management? Define them in detailed.

1. Resource scheduling: This task refers to identifying and then assigning resources to various tasks within a specified period of time.

2. Use of resources: This concept is an indicator of performance in companies and helps to know how much time is spent on each task.

Utilization can be measured in terms of:

  • General use of resources
  • Strategic use
    Non-billable usage
  • Billable usage
  • Resource managers can proactively mobilize resources from non-billable to billable / strategic tasks and maximize their billable utilization.
3. Resource forecasting: helps to know in advance the level or amount of resources to be used.

Taking advantage of this information, one can:
  • Mobilize resources for non-billable activity or BAU billable tasks.
  • Ensuring effective bank management
  • Close the gap in capacity and deman
4. Resource and capacity planning: Maximize optimal utilization and on-time project deliveries.

5. Reports and business intelligence: it is an analysis in real time to be able to make decisions before something happens.

4.What are the advantages of resource management? 


1. Minimize project resource costs significantly
2. Improving effective/billable resource utilization
3. Bridge the capacity vs. demand gap proactively
4. Use scarce resources effectively in a matrix organization
5. Monitor and improve organization health index


5.What are the skills that every resource manager should have? Explain  each in detail.

1. Communication skills: will allow them to better explain roles and responsibilities to resources and, at the same time, facilitate reasoning with project managers.

2. Conflict resolution: an administrator must ensure that all resources have the same goal and work in harmony to achieve the objectives of the company that is why the ability to resolve conflicts is a mandate.

3. Knowledge of the domain: assign the appropriate resources to the appropriate work, it is important to have the skills and prior knowledge of the work you are doing.
4. Proactive Planning: Every project manager aims to complete the project on time and on budget, which makes advance planning critical.

5. Negotiation skills: it is about knowing how to negotiate, reaching agreements where there is a profit and knowing how to convince.
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6. Risk management: refers to knowing how to make decisions that seem risky but are planned in advance to make a profit.


Comentarios

  1. I agree with your second question, the administration of resources is very important for any company since they must be prepared for any situation.
    I like your simple but clear answers

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  2. Hi. I just read your work and it seems very complete and organized to me, I liked your answer in regards to the importance of Resource Management in business, it is simple but you are right, this process helps the organization make informed decisions.

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  3. Hello Elizabeth! I am amazed, your work it is simple but good, you could explain the main ideas of the topic in few sentences, thank you!
    If I read your list of “the skills that every resource manager should have” I can think that all of them are pretty easy to follow, do you want to know something? Sometimes I have dreamed about being a resource manager, but unfortunately, I do not have all the abilities that you have mentioned.
    Whatever, I enjoy reading your points, perhaps we can talk about it another time, it will be incredible. Good job!

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  4. Hi!, I read your answers and they are short but they define the concept well. It took me a little bit of work to simplify the answers, but you did it well. :,)

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  5. Hello, I really liked how you express the ideas of your work, the information is very easy to understand, I also liked how you cover the whole issue well and of course it is important that a company must have its strategies very clear for its future. Good job

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