Best Practice Resource Management
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Resource Management isn’t something you choose to do or not do. Whether you do Resource Management in an ad hoc, seat of the pant way, or with a best-in-class capability, resources get allocated to projects every day in your organization. The key question is; are your resources being deployed to the best projects?
In a recent survey of senior executives from Fortune 100 companies, 100% of the participants without a Resource Management capability admitted having resources deployed to undeserving projects. The penalty for not having a Resource Management capability in place is severe. In that same survey, participants identified the top 7 organizational consequences of not having a proven Resource Management capability:
- Inability to resource the right projects
- Spreading resources too thin
- Reduction of resources in the wrong functions/roles
- Inability to achieve growth targets
- Lack of knowledge of constraints and bottlenecks
- Allocation of projects to undeserving projects
- Missed deadlines and launch dates
Implementing a robust Resource Management capability will deliver immediate value. Combining Resource Management with an effective Portfolio Management capability could transform your company’s competitive position and growth trajectory.
You can use the GenSight Resource Management solution in just one department, a whole business unit, or across the entire corporation. You will benefit from proven best practices and experience to rapidly elevate your organization’s Resource Management capability in the following areas:
- Resource Planning – Supply vs Demand
- Resource Optimization – Adjusting the portfolio to fit constrained resources
- Resource Allocation – Named resources being allocated to projects
- Time Recording – Capturing actual time (and cost) spent
The approach is modular, so you can choose to adopt any or all of the above processes. GenSight can be configured to reflect your needs for workflow around these process elements.
Benefits of Effective Resource Management
- Maximize long term value through effective deployment of human and financial resources
- Align resources with strategic goals
- Optimize deployment of constrained resources – by skill type, department, region etc.
- Master the complexity of selecting the best projects for the portfolio while matching resource demand and capacity
- Explore different resource scenarios to maximize value
- Avoid the cost of wasted or misdirected resources
- Track vital time and cost information on actual resource consumption