WHAT ARE THE KEY BENEFITS OF RESOURCE MANAGEMENT?
In brief, HUGE!
Resource management is the backbone of a business. It’s a unique discipline and the lynchpin between client servicing, project delivery, finance, recruitment and staff development.
Account Managers want happy clients. Project Managers want to deliver on time and on budget. Finance Directors want good profits margins. These are, of course, all vital to the success of any business, however they also make these people’s focus necessarily narrow.
Resource Management has an overview of all of these functions, leading to a joined up and proactive approach.
WHAT ARE THE MOST COMMON MISTAKES YOU SEE PEOPLE MAKE IN RESOURCE MANAGEMENT?
Repeat after me – do not rely on a scheduling tool to fix your problems! Tools are great, I’m a fan, but they are secondary to a great resource manager and the discipline being understood and embraced by the business.
Resource management is often treated as little, or nothing, more than a game of human tetris based on half-arsed requests.
This shortsighted and reactive approach is costly to any business.
WHAT ARE YOUR TIPS FOR IMPLEMENTING RESOURCE MANAGEMENT AS A CRUCIAL DISCIPLINE IN A BUSINESS?
Firstly, senior management need to understand the value resource management adds and to get behind it. That’s the only way things will change.
Then it’s all about embracing the discipline across your entire business. For example:
• Review your project process and ensure resource management is woven throughout the entire project lifecycle.
• Include your resource manager in new business pipeline meetings and commercial planning meetings.
That’s a good start but most important is TRAINING. Teach the wider business to embrace resource management as a crucial discipline that is there to help them! Collaboration is key to success.
HOW DOES BETTER RESOURCE MANAGEMENT IMPROVE A COMPANY’S PROFITABILITY AND ULTIMATELY THEIR VALUE?
Resource management is a highly commercial discipline. A good resource manager will ensure resource allocation is aligned to agreed project scope and commercials.
They highlight and escalate out of scope requests. They spot problems before they hurt the business. They know if you’re about to fall short of a monthly financial – and remedy the situation so your billing stays on track.
They forward plan and align recruitment and training requirements to your new business pipeline and in doing so they futurepoof your ability to deliver projects going forward.
This proactive approach adds 10% (min) to a business’ bottom line.