Effective resource management is essential for any project to succeed. Not only can you see the positive attitude and motivation that resource optimization generates in your resources, but also the profits you make.
ERM is a great tool for organizations. It is no surprise that companies around the world have teams that are responsible for ensuring that resources are used effectively and efficiently. An effective ERM solution will yield rich benefits for the company.
Make a list of all the projects you have in mind for the coming year. This will help you forecast the skills and resources required so it is easy to allocate and move resources for each project. This will not only ensure optimal utilization of resources, but it can also provide insight into the actual project effort and project monitoring.
Maintain a resource capability database that contains relevant information. The resource skills can be used to efficiently assign resources to projects. It is important to keep the resource database current in order to ensure that it is useful and meets the objectives of effective resource utilization. This also helps in mapping the employer-employee goals better.
Automation of project status reports and project reporting is a great tool for improving team productivity. Employee performance can be affected by the repetitive tasks of data collection, reporting filing, parameter calculation, and other mundane tasks. A smart tool that can extract the required information and generate reports accordingly will not only save time but also improve employee morale. This gives the resource manager the ability to see the changes in resource requirements and allows them to make adjustments.
Knowing the future requirements and projects in the pipeline will help you not only optimize your resource utilization but also aid in your recruitment drive. This will allow you to identify the skills required to be a resource specialist and give enough time to your recruitment department to find the right resources. It will also help you to understand your budgeting requirements and create a balanced portfolio.
EPM can also play a role in employee retention. EPM reduces the individual’s net bench time, which has a direct impact on employee motivation and morale. This ensures that your team is not at risk of high turnover and helps to keep you in the game.
The EPM allows the management to move away from tactical planning and towards strategic portfolio planning.
Software for Project Management
If you’re interested in learning more about top rated project management software, the editors at Project-Management.com actively recommend the following:
