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Best Resource Management software

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resource management software guide

Table of Contents

What Is Resource Management Software?

Undoubtedly, resources form the crux of every organization. Anything which is deployed to complete a task is a resource, be it the manpower, machines, tools, equipment, facilities, etc., are considered as the resources for the organization. Proper utilization of resources is the key to successfully run the organization. Since the resources are limited, so they must be used in such a manner that they meet their purpose without causing any monetary losses. Thus, with effective resource planning, the companies can complete their projects on time despite the pressure of stringent timelines, changing priorities, and evolution of the project. Resource planning even keeps the utilization rate of the resources at a profitable level and this is reflected in the profit margin. However, this requires a lot of time and strategic planning. Traditionally, the management professionals were responsible for effective resource planning. However, with the advent and evolution of technology, there is resource management software at enterprises’ disposal to do the task for them and save their time and efforts.

Resource management software is a robust tool which helps the companies in planning the resources and gauging the input of their team. Resource planning tools are integrated with features like time tracking, resources availability forecasting, resource scheduling, inventory management, time management, utilization reporting, and other such tools that gives a better overview of any project. These features also help in effectively planning the resources and monitoring them to ensure that the resources are used according to the planning. The more powerful the resource management software, the more tasks it can perform. For example, the best resource planning software can perform tasks like collaboration, utilization of tools, reporting, information sharing, etc. 

common capabilities of resource management

Some common capabilities of all resource management tools include:

  • Resource planning and management

  • Utilization reporting

  • Resource scheduling

  • Resource auditing

  • Resource discovery

  • Resource availability forecasting

What Is Resource Planning And Why It Is Important?

Resource planning is a fragment of project management which deals with making judicious use of necessary resources which are important for delivering any project. The process involves forecasting, planning, gathering, scheduling and implementing the resources. Resource planning is all about management of the talent and qualities available. It focuses on managing resource along with keeping in mind the perfect match of skill for a given task, thus helping the team in staying motivated.

Importance of Resource Planning

Resources can break or make business and lead to enormous profits or loss. Without the right amount of resources, all our skills will go in vain. Thus, resource planning is crucial for the profitable run of companies. Apart from garnering profits for the business, resource planning has many other benefits. Few points that elucidate the significance of resource planning are listed below:  

  • Resource planning is important for global peace and sustaining a quality life

  • It helps in the conservation of resources

  • It helps in reducing the wastage of resources.

  • Effective resource planning helps in keeping a check on the available and remaining resources.

  • It helps in the appropriate distribution of resources.

  • It initiates in keeping track of the resources for future generations.

Need For Resources Planning

We know that most of the resources that we use are limited and will surely get exhausted in the future. Therefore, it is important to plan their use appropriately. Effective resource planning is very important because it not only helps in delivering the projects on time without shifting of deadlines but it also makes sure to keep a check on the priority list and complete the tasks accordingly. This keeps the utilization rates at a profitable level and also reduces the time spent on the projects. However, resource planning is a time-consuming task. Management of any business or organization without robust resource management tools can turn out to be a very tedious task. So, there are arrays of resource management software tools for the disposal of businesses so that they can plan and utilize their resources appropriately with fewer efforts.

The market is flooded with resource management tools, so businesses have plenty of options. Again, choosing the right resource planning software is the key. Each business is different and has different needs, so one should choose resource management software according to the requirements of the business. Usually, one should go for resource management tools that are easy to use and requires less training. The resource tracking software should have a simple interface and should be packed with a number of powerful features. Every business should choose resource management tools that come with a powerful dashboard which gives an overview of the current status of all the projects. The tools should also facilitate the managers to find the right skill for any specific task and even help in making comprehensive reports with data. The best resource management software is the one that enables the project manager to plan, monitor, schedule and manage the resources appropriately in no time.

Features Of Resource Management Software

There a number of powerful features that are equipped in resource management tools. Some of them are listed below:

features of resource management software

1. Dashboard:

The effective key to resource management and decision making is the correct information. The availability of dashboard is a boon since it provides real-time insight into projects, resource capacity, resource availability, and utilization. A dashboard allows access of information in one single screen and instantly highlights the area which needs attention.

2. Centralized Project List:

We know that an organization might undertake any number of projects at a given time. Also, different projects might be at different stages. Therefore, reporting of such projects may be ineffective and at times incorrect. In such a situation, a centralized list of projects will provide a clear vision and increase accuracy in decision making. A centralized project list will be the one which will be shared by all the users in the organization based on its access. Therefore, users have access to information which they need to know.

3. Effective Scheduling:

Efficient utilization of resources is also an important aspect of resource management. It focuses on properly identifying, profiling and scheduling of resources. The best resource management software is the one that allows the businesses to use the right resources at the right. Every organization spends a lot of time and money on hiring good resources, but this is only a subpart of efficient scheduling. Efficient scheduling focuses on getting more work done by exploiting fewer resources.

4. Management of Resources for Different Types of Projects:

We are well aware that not all projects are the same. Some are related to consulting and marketing while some are related to engineering. Also, the projects can be distinguished as small and large projects. A resource management software allows in configuring various types of projects as per user’s requirements. The project can be of different type and the reporting of the project can be done on the basis of its project type.

5. Centralized Pool of Resources:

Nowadays, organizations are widespread all over the world. There are multiple offices in different locations, cities, and countries. This leads to a lack of vision and visibility and also decreases the ability to identify the required and qualified resource. The resource management tools serve handy for such organizations. The resource tracking software helps in maintaining a centralized directory of all the resources and information. This information is shared only with a few users in the organization for security purposes. Also having a centralized directory lessens the efforts and makes searching of right resources easier.

6. Flexible Billing:

Resource management software tools allow businesses to choose the number of resources they want to include in a schedule. It offers flexible subscription options to the users which do not have any kind of long duration commitments. The billing and subscription options offered by resource management tools are comfortable and allow the users to choose, increase or decrease the number of resources. Thus, it focuses on the "pay as you go" scheme.

7. User Access:

We know that project operations like reporting of data, scheduling, and other project-related information should be kept confidential and only a few people have the rights to access or modify these. Therefore, resource planning software comes with a feature that allows the development of sophisticated user access right. This makes sure that only the authorized users will be able to view or modify the data. These rights are assigned at the project level, resource level or any other grouping.

8. Working Calendars:

Management of multiple working timing is a must for the successful run of the companies. The best resource planning software allows users to simply create a working calendar for all working patterns in their organization. The users do not have to worry if they have resources in any part of the globe or if they have a full time or any casual resource. The best resource management software will calculate the resource capacity on the basis of the working calendar. This will ensure an accurate calculation and give correct reports.

Key Benefits Of Resource Planning Software

A resource manager should try his best to achieve cent percent utilization of the available resources and also look for ways to deliver maximum output while using limited resources. The best resource management software is the one which helps in creating paths so that resource management becomes easily understandable for the manager. It helps the manager in applying a variety of resource management operations like resource leveling resource development, conservation which results in a reduction of the cost and time taken for the implementation of the project.

The organizations that make use of resource planning software, have more time to focus on other important task and they are well satisfied with the software’s results. In general, some of the benefits that resources management tools offer are as follows:

  • It helps in determining the current as well as the future demands and supply of human resources.

  • The resource management software aids in analyzing the demand for portfolios.

  • It helps in understanding the gap between the demand and supply of resources.

  • The resource planning software also helps in looking for an appropriate plan to bridge the gap between supply and demand of resources

  • The resource tracking software helps in tracking the availability of resources

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eResource Scheduler

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Kiran BajpaiBy Kiran Bajpai | Last Updated: October 22, 2020

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