In organizational studies, resource management is the efficient and effective deployment of an organization's resources when they are needed. Such resources may include financial resources, inventory, human skills, production resources, or information technology (IT). In the realm of project management, processes, techniques and philosophies as to the best approach for allocating resources have been developed. These include discussions on functional vs. cross-functional resource allocation as well as processes espoused by organizations like the Project Management Institute (PMI) through their Project Management Body of Knowledge (PMBOK) methodology of project management. Resource management is a key element to activity resource estimating and project human resource management. Both are essential components of a comprehensive project management plan to execute and monitor a project successfully. As is the case with the larger discipline of project management, there are resource management software tools available that automate and assist the process of resource allocation to projects and portfolio resource transparency including supply and demand of resources.
HR (Human Resource) Management
This is the science of allocating human resources among various projects or business units, maximizing the utilization of available personnel resources to achieve business goals; and performing the activities that are necessary in the maintenance of that workforce through identification of staffing requirements, planning and oversight of payroll and benefits, education and professional development, and administering their work-life needs. The efficient and effective deployment of an organization's personnel resources where and when they are needed, and in possession of the tools, training and skills required by the work.
Corporate Resource Management Process
Large organizations usually have a defined corporate resource management process which mainly guarantees that resources are never over-allocated across multiple projects.
Read more about Resource Management: Techniques
Famous quotes containing the words resource and/or management:
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—Thomas Jefferson (1743–1826)
“The care of a house, the conduct of a home, the management of children, the instruction and government of servants, are as deserving of scientific treatment and scientific professors and lectureships as are the care of farms, the management of manure and crops, and the raising and care of stock.”
—Catherine E. Beecher (1800–1878)