Resource management is part of the Oracle Fusion Cloud Project Management solution, and it enables organizations to optimize the allocation and utilization of their most precious resource: their people. Resource managers and project managers can ensure that the best-fit resource is identified and placed on each and every project assignment, to the benefit of the organization, the project resource, and the end customer, whether it be for internal or external billable projects. Resource managers and executives can monitor resource-related metrics at every level of the organization and take action to maximize utilization by ensuring unassigned resources are allocated promptly and effectively using visual interactive resource planning and scheduling capabilities.
Why Is Resource Management Important?
It is all about transparency, so you can see, monitor, and attain what is required to deliver projects. It also enables you to minimize both idle time and overutilization of resources. With full visibility of both work and resources, you can more effectively schedule, plan, and manage your resources, aligning them with the right projects at the right time.
- Planning and scheduling: understanding what resources are available and when
- Available and required skills: assessing the skills of each person and whether additional skills (or people) need to be added
- Resource utilization: knowing where people are already committed and if those allocations are appropriate
- Resource capacity: understanding the true capacity to do work and recognizing that not all time can be utilized
The value and benefits of project resource management:
- Improve Utilization with Real-Time Performance Monitoring
Project-based organizations strive to achieve higher levels of utilization, which is key to their success. Resource management allows organizations to track and manage utilization targets at all levels of their organization.
- Complete Modern Enterprise Project Portfolio Management
It helps organizations refine their project management processes to increase customer satisfaction, expedite delivery, and communicate increased project value. The focus is transitioning from project work status and completion to more efficient execution and better project outcomes.
- Increased profitability
Many organizations find increased profitability to be one of the most compelling benefits of resource management. Savings often begin during the planning stages, as an account of the necessary resources can help project managers work with the right vendors. They can find high-quality materials at a low price and ensure each project has enough resources to meet deadlines. Increased profitability is also possible because of the more efficient allocation of labor and satisfactory final products, which can lead to increased sales and customer retention.
Key Features
- Comprehensive, shared resource repository with Oracle HRMS
- Shared schedules and availability
- Concise requirements definition
- Automated approval processing
- Self-service staffing functions grouped by role
- Project financial forecasts
- Capture time and expenses
Conclusion
Resource management brings control by ensuring managers are equipped to maximize resources and reduce unnecessary costs. You have the data you need to understand project and personnel costs for more accurate budgeting and planning, optimizing resources across projects based on skills and capacity.
The greatest benefit of resource management is the effective and efficient delivery of projects to the customer. Customer satisfaction improves when teams are able to fulfill project requests on time and as expected.
Further reading
- Top 5 Oracle Partners in Saudi Arabia
- Top 5 Oracle Partners in Egypt.
- How to Select the Right Oracle Partner for Your Cloud Needs
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