Resource Management is efficiently and effectively using your organization’s budget, inventory, personnel and information technology (IT). In this blog, the term “resource” refers to personnel.
Once initiatives are prioritized or selected, the next step in your Project Portfolio Management process is to assign resources to projects.
PPM enables you to determine resource allocation using a top-down approach – either at the portfolio or organizational level. You can effectively perform tasks such as assigning resource availability, aligning skills to projects, and resource leveling.
Increased visibility enables proactive management of resource schedules, which allows you to identify potential issues weeks or months in advance.
There are 3 important ways that Project Portfolio Management optimizes deployment of personnel:
- Resource Scheduling
- Skills Management
- Resource Leveling
Resource scheduling is the process of assigning a person to a project, and is typically a built-in capability of a Project Portfolio Management tool.
Visualize utilization and assignment across the entire portfolio viewing resources by project and by resource. This aggregate view helps you identify key projects, skills, people and timelines.
You can perform “what-if?” analysis by assigning individuals to projects that are not yet active.
Determine the optimal deployment of resources by:
- Identifying high value projects (by their score)
- Identifying projects that are not yet active (workflow status)
- Assigning resources
In order to implement a robust scheduling process, begin with a list of all resources (“roster”) and a list of all upcoming and current projects. Create a detailed project management plan or a work breakdown structure to identify the exact times and dates that personnel need to be assigned to the initiative.
Skills management is matching your team’s skills with your project’s requirements. Understanding the skills required for a given task or milestone is a necessity. A list of required skills should be gathered during the project intake process.
A Project Portfolio Management software provides such a roster with the personnel available to work on projects. Roster data will include a mini CV of the individual and their skills. This matches resources to projects so that proper talents are best applied.
Resource Leveling methods adjust project timelines and fine-tune utilization of personnel. Resource leveling allows the maneuvering
of personnel among many projects
by considering utilization/load and skills while looking ahead for future scheduling needs. Resource leveling is necessary because timelines change, resources become unavailable, and new projects begin that overlap with current dates.
Methods of leveling enable you to reassign a portion of the work based on skillset and adjusts deadlines to accommodate the schedule of key personnel.
A PPM solution removes the manual effort and mental angst of Resource Leveling via a spreadsheet.
Resource management can ensure that the right projects are assigned to the right people thereby increasing the chances of project (and portfolio) success. To learn more about the additional benefits that PPM can deliver please see our “Definitive Guide to Project Portfolio Management”.