Resource management is acquiring, allocating, and managing the resources, such as individuals and their skills, finances, technology, materials, machinery, and natural resources required for a project.
Resource management ensures that internal and external resources are used effectively on time and to budget. Resources may be obtained internally from the host organization or procured from external sources.
The APM Body of Knowledge defines resource management as 'the acquisition and deployment of the internal and external resources required to deliver the project, program or portfolio’.
The project professional must identify the resources required to deliver the work, as part of planning, and determine when the resources will be required, through scheduling. This forms an essential part of the project management plan.
The best ways to manage resources effectively is to follow the three-step process:
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