Resource Management

Resource Management is a key element to activity resource estimating. It is the process of using a company’s resources in the most efficient way possible. These resources can include tangible resources such as goods and equipment, financial resources, and labor resources such as employees. It is defined as a “component of project management that takes care of the human, financial, distribution, and demands of project resources.” It may include financial resources, inventory, human skills, production resources, or information technology (IT). Resource Management aims at smoothing the stock of resources on hand, reducing both excess inventories and shortages.