Most individuals think of capacity planning in terms of supply and demand in product-based industries; it equally applies to service industries and is a critical component of project management. Here are some steps companies and project managers can take to avoid nightmares.
In services, there is a constant struggle to manage supply vs demand. A few questions to consider: Do you have the number of resources required to complete your work, and can you successfully handle taking on more work?
The Execute Phase of The Resource Management Lifecycle begins the moment that the project is won, the resources are scheduled, and a project plan is set into motion.
Today, we can definitively state that we are in a services economy. The services sector, including professional services, marketing, IT, and consulting, to name a few, has experienced an epic rise in demand in the last decade.
In a recent study, Forrester Research predicted a “greater than 300% increase in investment in artificial intelligence in 2017 compared with 2016.” The benefits of artificial intelligence on productivity are incredible and we are in a moment in time where the possibilities are becoming quite endless.