Actividad 10: Business Communication.

 

Business Communication. 

Resources Management

Actividad 10.

1.What is Resource Management?  As I understand, Resource management is a process where we need to use various types of business resources; the resources could be human resources (This is important because we can understand the fact that human resources are a tool used in resource management), facilities or equipment, and some more. 

We need to planning, scheduling, the available resources using them optimally serching to improve profitability. 

2.Mention what is the importance of Resource Management in business. 

The important part of human resources in business is the fact that it helps us to improve business’s profitability and sustainability and also it helps us to: 

• Minimize project resource costs significantly
• Improving effective/billable resource utilization
• Bridge the capacity vs. demand gap proactively
• Use scarce resources effectively in a matrix organization
• Monitor and improve organization health index

3.What are the Concepts and Components of Resource Management? Define them in detail. 

 

1. Resource scheduling: Resource scheduling involves identifying and allocating resources for a specific period to different project tasks. These tasks can be anything from billable, non-billable, or BAU work.

2. Resource utilization: Resource utilization measures the amount of time spent by the employees on different project tasks against their availability.

3. Resource forecasting: Resource forecasting helps managers predict resource utilization levels in advance and foresee the resources likely to end up on the bench. This is one of my favprites because I saw ir in my classes; so using a great method you will be able to save resources and also  streamline processes.

4. Resource and capacity planning: Resource planning is the comprehensive process of planning, forecasting, allocating, and utilizing the workforce most efficiently and intelligently. Resource capacity planning is an undertaking to analyze and bridge the capacity and demand gap well ahead of the curve.

5. Business intelligence and reports: Business intelligence provides actionable insights by performing extensive data analysis. This use real-time data, and it is favorable because you will have the necessary information in your hand at the time; so it would be better for taking decisions before the expected giving you an advantage over the situations that can happen inside the company. 

 

 

4.What are the advantages of resource management?  I think that is pretty clear to understand why is resource management so relevant for a organization; it helps you to provide efficient processes, and also to save money; and the most immportant part is the fact that you are going to improve the profitability, those are important parts when you are trying to lead a company. 

 

5.What are the skills that every resource manager should have? Explain  each in detail.

 

1. Communication skills: Resource managers are accountable for fulfilling resource requests from project managers by assigning the job to the right resource. The communication skills are completely necessary when we are talking about resource managers because they handle with everything inside the company that involves the members of the enterprise. 

2. Conflict resolution: Communication is the blood of organizations, and conclicts are very common inside companies, that is why managers must be good listeners and good communicators because they are going to fix the conflicts. 

3. Domain knowledge: It’s important that they understand the skillset very well. They need to be experts and understand every process. 

4. Proactive planning: Every project manager aims to complete the project within time and budget, which makes forward planning a critical aspect. They need to do everything at the time established. 

5. Negotiation skills: Resource planning is a complex job and brings forward a myriad of challenges for the resource manager. They need to be able to negotiate delivery conditions, or to talk with suppliers and close a deal with extensive benefits. 

6. Risk management: Resource managers should hone their risk management skills with forward planning to keep the project going, no matter what they need to be able to save the project and continue with the things they need to do.