Managing resources effectively is crucial for business success. Your company's resources include its staff, equipment, facility, materials, and other things that are needed to complete important tasks. Resources are finite, making it important to utilize them in an efficient manner. While simple systems for small companies can work, the systems that are used for growing companies must be scalable so that they can meet the needs of the businesses. Knowing what to look for in resource management software can help you to choose the program that will meet your business requirements.
What is a resource management system?
A resource management system can include any method that a business uses to manage its resources. Companies that are very small can manage their resources without software. A management system in a small business might include team meetings and a whiteboard. When companies grow, however, these types of systems do not work. Some companies move on to use simple software programs such as Excel spreadsheets. While Excel spreadsheets might be okay for businesses with around 15 employees as a starting point, most companies eventually will need to turn to solutions that are more integrated. There are multiple resource management software programs that offer better control and help to alleviate issues such as data entry errors, deletions, overwriting, and other problems.
How does resource management fit into project management?
Resource management is vital for project management. Resource management problems are among the leading issues for organizations, and include such things as the following:
- Poor resource capacity planning
- Unrealistic deadlines or schedules
- Failing to assess resource risks
- Not optimizing the use of resources
- Poorly documented resource utilization
- Unplanned requests for resources
Good resource management systems can help project managers to avoid these problems so that the projects are completed on time, and the resources are used in an efficient manner. When a company has multiple projects that are ongoing simultaneously, a resource management solution can help the business to stay on top of everything.
What to look for when purchasing a resource management tool
Some companies choose to have a custom resource management system built for them. Many other companies instead opt to purchase resource management applications that are available in the cloud or that are installed on their computers.
When you are considering different management applications, you should look for programs that offer the following features at a minimum:
- Resource scheduling, planning, and management features that use a
- collaborative calendar so things can be moved around easily
- Analytics and reporting
- Management of projects and clients
- Functionality such as task management, approval workflows, expense tracking, and timesheets
- Third party integration capabilities
When you find the right software, it should also be one that is scalable. As your business grows, and you add more employees and projects, having good management software for your resources can help you to improve your profit margins.
Custom Resource Management Software
PMware provides scalable custom resource management software that can help organizations do more with less. Our software helps project-focused organizations maximize efficiency and profits. Learn more about how PMware’s custom resource management tools can work for you!