Resource Plan

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A resource plan identifies the resources that are needed for completing a project. These resources include both human and material resources. It is a document that identifies and allocates various business resources to the project. They also ensure the efficient utilization of scarce resources. These business resources can be human resources, equipment, facilities, and assets. It can also be referred to as a strategic plan to make the best use of the available resources.

What Is a Resource Plan?

The resource plan is a document that identifies the resources required to complete a project. It is important to list all the resources at the beginning stages of a project development lifecycle to estimate the accurate costs and time. Resource are assets that are required to execute a project. They include hardware equipment, tools, supplies, materials, time, and human resources. An ideal resource plan lists the exact quantity of the material and the non-material resources. Considering the resource plan greatly helps in project scheduling and budgeting.

Creating a Resources Plan

The resource plan means using the resource most efficiently and cost-effectively possible and contributing to the project’s overall progress. Here are the steps that you can follow to create an effective resource plan:

1. Identify the Resources

This step requires you to identify all the resources you will need from the beginning till the end of the project. Generally, there are four types of resources that need to be identified:

a. Labor

Labor includes the humans who are needed to execute a project. You should identify the number of human resources and their skillset. Each project has a different skill set required for its execution. For example, a software project needs developers, database administrators, software testers, and many other specialists.

b. Materials

Materials include all the hardware and software devices and applications that will be part of the final product. For example, wood, cement, iron, paint, and other materials will be needed for building a house.

c.  Equipment

Equipment includes all the tools needed to accomplish different tasks during the project execution. For example, for building a house, you will need different types of equipment, such as bulldozers, drills, spades, etc., to accomplish certain tasks.

d.  Facilities

Facilities include some workspace or anything that helps the workers do their work more efficiently. For example, the people at a software company need high-speed internet to access web resources.

2. Estimate the Number of Resources

Once you have identified the resources that are required, estimate their quantities. In this step, you need to state the number of each resource required clearly. Also, mention the date when the resource will be used and its consumption rate.

3. Create a Resource Schedule

Now that you know the required resources, you need to identify the dates when a particular resource will be needed and consumed.

Importance of Resource Planning

The resource plan is the most critical part of the project management process. Here are some reasons why it is important to do resource planning:

  • It helps organizations identify the projects that could be executed in a pipeline.
  • Helps minimize resource costs.
  • Maximize effective resource utilization.
  • Helps in delivering the project on time and within the given budget.
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