Resouce Management Unit 5004 Essay Example | Topics and Well Written Essays - 3000 words

Resouce Management Unit 5004 - Essay Example Resource management is a key element to activity resource estimating and project human resource management. Both are essential components of a comprehensive project management plan to execute and monitor a project successfully. As is the case with the larger discipline of project management, there are resource management software tools available that automate and assist the process of resource allocation to projects and portfolio resource visibility including supply and demand of resources. This unit is about the generic principles, methods and techniques for planning, managing and analyzing the use of any and all resources available to the manager. This includes physical, financial and human resources, and the factors affecting their use - organizational, legal, ethical and environmental.The main purpose of this unit is to manage non- financial resource and manage financial resources.. Management is about getting thing done by other through the resources such as people equipment and materials. So these resources should be utilized to the maximum to achieve the objectives. Managers are responsible for planning, organizing leading and controlling the efforts of organization members and using all the organizational resources to achieve organizational objectives. So the need to achieve the goals from this optimum resource arose. The need for operations managers to reduce manufacturing costs, optimize productivity and improve product quality in order to stay in the market has become imperative. Operations management is the management of direct resources such as machine, material and manpower which are required to produce goods and services. It involves planning, operating, controlling, directing and coordinating all the activities of production systems, which convert resource inputs into services. The transformation process helps the operation manager an immediate sens e of the importance of having the right resources in place whenever required. In most of the private sector companies outputs are given more importance than inputs. 1.2 Explain the process of planning resource use to achieve the objectives Planning process The strength and weakness has to cover the organization's products or services, people, resources and should examine the structure of the organization and ability of the organization to cope with the change. Market segment analysis is the useful technique for looking at products or services as it focuses its attention on markets and their potential. Different factors are considered for each market segment. The market segment analysis covers market share, profitability, reliance on segment, geographic spread, size, skills, market emphasis, and style and future intentions. Planning processes is important in an organization for the following reasons Extension organizations have too few financial resources, given the nature and size of their missions and many of them doesn't know to use in an appropriate manner Managers and other staff members do not know how many resources are available for use in dealing with a particular problem or program activity. Many of them do not know the costs of carrying out various activities or whether a particular approach is a cost-effective way to deliver programming. Money may be committed almost totally to salaries, leaving little to cover operating and other costs. Financial allocation decisions are made by people who are not in a