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Resource management
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<h2 id="corporate-resource-management-process">Corporate resource management process</h2> <p>Large organizations usually have a defined corporate resource management process which mainly guarantees that resources are never over-allocated across multiple projects.<a class="footnote-ref" id="fnref:4" href="#fn:4"><sup>4</sup></a> Peter Drucker wrote of the need to focus resources, abandoning less promising initiatives for every new project taken on, as fragmentation inhibits results.<a class="footnote-ref" id="fnref:5" href="#fn:5"><sup>5</sup></a> </p> <h2 id="techniques">Techniques</h2> <p>One resource management technique is <a href="/facts/Resource_leveling/xM5p91p5">resource-leveling</a>. It aims at smoothing the stock of resources on hand, reducing both excess inventories and shortages. </p><p>The required data are: the <a href="/facts/Demand_(economics)/mtb1m6F0">demands</a> for various resources, forecast by period into the future as far as is reasonable, as well as the resources' configurations required in those demands, and the <a href="/facts/Supply_(economics)/spSRt0JM">supply</a> of the resources, again forecast by time into the future as far as is reasonable. </p><p>The goal is to achieve 100% <a href="/facts/Rental_utilization/dlXCALQu">utilization</a> but that is very unlikely, when weighted by important metrics and subject to constraints, for example: meeting a minimum service level but otherwise minimizing <a href="/facts/Cost/V1GX4vhw">cost</a>. A Project Resource Allocation Matrix (PRAM) is maintained to visualize the resource allocations against various projects. </p><p>The principle is to invest in resources as stored capabilities, then unleash the capabilities as demanded. </p><p>A dimension of resource development is included in resource management by which investment in resources can be retained by a smaller additional investment to develop a new capability that is demanded, at a lower investment than disposing of the current resource and replacing it with another that has the demanded capability. </p><p>In <a href="/facts/Habitat_conservation/gNI7Yf2W">conservation</a>, resource management is a set of practices pertaining to maintaining natural systems integrity. Examples of this form of management are <a href="/facts/Air/hQ95Jznz">air resource</a> management, <a href="/facts/Soil_conservation/RYDhrG3r">soil conservation</a>, <a href="/facts/Forestry/puvod5MV">forestry</a>, <a href="/facts/Wildlife/Byh8cAyK">wildlife</a> management and <a href="/facts/Water_resource/2j7FJlLE">water resource</a> management. The broad term for this type of resource management is <a href="/facts/Natural_resource_management/VTS4IMbA">natural resource management</a> (NRM). </p> <h2 id="see-also">See also</h2> <ul><li><a href="/facts/Environmental_management/pLk76zbx">Environmental management</a></li> <li><a href="/facts/Factor_10/KqUNTJy9">Factor 10</a></li> <li><a href="/facts/Holistic_management/tC6pYHl3">Holistic management</a></li> <li><a href="/facts/Industrial_symbiosis/k7LYgvzS">Industrial symbiosis</a></li> <li><a href="/facts/List_of_resource_management_software/FSaYCb67">List of resource management software</a></li> <li><a href="/facts/Resource_allocation/QmQWt2Yg">Resource allocation</a></li></ul> <h2 id="references">References</h2> <ol> <li id="fn:1"><p>A Guide to the Project Management Body of Knowledge, Third Edition. Newtown Square, Pennsylvania: Project Management Institute (PMI). 2004. ISBN 1-930699-45-X. <a href="1-930699-45-X" target="_blank">1-930699-45-X</a> <a href="#fnref:1" class="footnote-back-ref">↩</a></p></li> <li id="fn:2"><p>A Guide to the Project Management Body of Knowledge, Fourth Edition. Newtown Square, Pennsylvania: Project Management Institute (PMI). 2008. ISBN 978-1-933890-51-7. <a href="978-1-933890-51-7" target="_blank">978-1-933890-51-7</a> <a href="#fnref:2" class="footnote-back-ref">↩</a></p></li> <li id="fn:3"><p>A Guide to the Project Management Body of Knowledge, Sixth Edition. Newtown Square, Pennsylvania: Project Management Institute (PMI). 2017. ISBN 978-1-62825-184-5. <a href="978-1-62825-184-5" target="_blank">978-1-62825-184-5</a> <a href="#fnref:3" class="footnote-back-ref">↩</a></p></li> <li id="fn:4"><p>Modern Project Management <a href="http://www.pmhut.com/modern-project-management" target="_blank">http://www.pmhut.com/modern-project-management</a> <a href="#fnref:4" class="footnote-back-ref">↩</a></p></li> <li id="fn:5"><p>Frank Parth. "Growing in Turbulent Times'". <a href="http://www.projectauditors.com/Papers/Growing_a_Company/Growing_in_Turbulent_Times.html" target="_blank">http://www.projectauditors.com/Papers/Growing_a_Company/Growing_in_Turbulent_Times.html</a> <a href="#fnref:5" class="footnote-back-ref">↩</a></p></li> </ol>