Task 1 Resource Management study guide questions.

Do not copy and paste the answers. Read the information and express the ideas in your own words or paraphrasing instead of copying. Remember to write complete sentences not isolated words or phrases.

1.What is Resource Management?

It is a control process which efficiently allocates the resources that are available for the best performance of these and get the most out of them.

Thus, a control program to avoid the waste of resources unnecessarily and this means a disbursement of money

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

As mentioned in the definition, it is about avoiding an unnecessary outlay of money due to the waste of the resources that a company has, thus supporting the utility of the company.

For example, in a budget you already have a fixed amount, money being the resource, which you must manage perfectly, breaking down when it will be spent on each thing that is needed

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

a)      Resource scheduling: It is the allocation of resources to the tasks and / or activities to be carried out, allocating and managing the resources that are available.

b)     Resource utilization: It is the way in which the performance of the resources assigned to a task is measured, thus seeing if an increase or decrease is needed, assigning other personnel, eliminating it completely.

c)      Resource forecasting: It is about making an estimate regarding how much resource should be assigned to a task, as well as the use that this would generate

d)     Resource planning: It is the initial planning that is carried out when assigning resources, doing a previous investigation, then an estimate as well as the same future results, as when it should be assigned

e)     Business intelligence: This is making decisions through graphs and reports with the results of the activities to which resources were assigned, in this way controlling and observing deficiencies and efficiencies

4.What are the advantages of resource management?

a)     Minimize project resource costs significantly: This refers to saving resources in the company

b)     Improving effective / billable resource utilization: This is what was explained above, the resources are used effectively and efficiently, giving better results

c)      Bridge the capacity vs. demand gap proactively: It refers to anticipating the demand for your product, thus giving a better use of your income

d)     Use scarce resources effectively in a matrix organization: It is about the use in case of having little resource, asserting each unit in our possession

 

 

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

a)      Communication: You must have ease of speech for a good business closing

b)     Conflict resolution: You must have the ability to resolve problems quickly and efficiently, avoiding the loss of time and resources.

c)      Domain knowledge: You must have knowledge of the area where you work, this for a good allocation of the resource

d)     Proactive planning: Ability to create a schedule to manage times

e)     Risk management: Anticipating risks and a measure against them in an anticipated way

 

Reference source

Negi, A. M. (6 de Octubre de 2021). Saviom. Obtenido de https://www.saviom.com/blog/what-is-resource-management/