Maximizing resource efficiency and profitability is a top objective of every organization. From tapping into the full potential of a talent pool, to effective forecasting, and even business intelligence, resource management has become an integral part of success in today’s work environment. A high-level resource management solution not only optimizes a workforce, but it integrates with existing systems, provides comprehensive reporting and analysis tools, schedules resources far in advance,...
Services businesses are at a challenging time in the industry and need a direction forward.
Services firms run on maintaining tight profit margins and keeping a workforce that can respond well to the constant changes in clients needs. Whether clients suddenly need a massive project for a new business initiative or simply want maintenance work on their online presence, a services firm will need to have their team constantly at the ready so they can start at a moment’s notice. But what happens...
The year 2020 was a challenging time for businesses around the world in nearly every industry. The COVID-19 pandemic brought sudden changes to daily work life and reduced revenue in ways that have left organizations scrambling for solutions. In many cases, layoffs have been the go-to solution for companies looking to reduce costs and maintain margins. However, downsizing your workforce is not the only way to reduce costs and, in many cases, may create more complications for teams who...
Fully optimizing each member of your team is a dream for every business. By calculating utilization rates and determining where every resource can be best used, businesses can supercharge productivity without burning out team members. However, many companies today have increased their teams’ utilization to the next level yet still find themselves unable to reach the goals they have set. So what’s holding them back?
Resource managers often rely on strong communication and instinct to guide their teams for success. However, the modern age of business has increased the speed of work and the number of variables that go into every task. When combined with the rise of remote work, relying on these soft skills is no longer enough to succeed. As a result, more resource managers are turning to data science than ever.
Agencies run a tight ship, carefully balancing the need of their clients, the continual cycle of new projects and the resources required to keep everything running smoothly. Oftentimes, even the most successful agencies can be affected by resource management mistakes, creating unnecessary costs and project delays.
Since the COVID-19 pandemic, companies around the world have embraced remote work for the health and safety of their teams. However, offices still play a role for many businesses and provide a central hub. While the future is not set, it’s likely that the changes created by the pandemic will have lasting effects on how teams work, with many surveys showing that a remote work option will be desirable well into the future.
The world of online collaboration and communication has become an increasingly important aspect of every business, driven by the switch to digital files and distributed workforces. Whether you are working completely remote, in a centralized office, or a combination of the two the COVID-19 pandemic has made online collaboration even more critical to the success.
The COVID-19 pandemic has created new challenges for businesses around the world, forcing companies to adapt to new work circumstances and revealing processes that no longer work in this new way of doing business. It has also exposed weakness in the technology solutions that companies have depended on for years.
When a team member is hired, it’s most often to fill an open role or provide specific skills that are necessary for success. Whether in a management position or an individual contributor role, a person’s experience and capabilities are typically far greater than what is required for their role.
Calculating resources in project management is one of the primary skills for a project manager. It depends on not only understanding project scope and needs, but also having detailed knowledge of how each team member performs, how the team performs together, and the typical feedback loop between team and client. Making an accurate prediction can be complicated but is important not only to bid the project accurately, but also to effectively plan for and execute a project.
When it comes to resource management systems, project managers have several tools available. From simple homegrown systems using spreadsheets and calendars to robust resource management software platforms, the options are endless.
Resource management is the process of determining which resources are needed, in what quantities, and when, to complete a project. This process not only helps to determine how projects will be completed but also helps to predict the costs and timeline associated with the project.
Below are 7 steps and 4 tips for creating and presenting an effective resource management plan.
As a worldwide leader in project and resource management, Mavenlink is continually updating our solution to provide value to you and deliver an exceptional client experience. We are pleased to share the latest additions and improvements to our product.
Implementing and retaining new business solutions can be difficult for any company that has established their own way of working. However, no matter how successful your company may be, the time will always come when outdated methods are in need of revision or replacement.