Best Practices for Resource Management - image

5 Best Practices for Resource Management In 2024

Team Onstro on January 1, 2024 in Resource Management

Key Highlights

  • 56% of businesses use a software tool for resource management practices.
  • You can plan, prioritize projects, and list out a team for resource management.
  • Software like Onstro can help you with better resource management practices.

The market is changing every year, but the general pattern for success still remains the same: Best products with the lowest costs. And what’s the key to that? None other than best resource management practices.

As per a survey conducted by Prosymmetry, 56% of the respondents said their enterprise uses one or more tools for resource management practices. Therefore, most companies seem to accept the fact that resource management is a crucial component of success.

But the catch here is that resource management is a challenging task, and many have not even learned the basic practices. Keep reading to learn what are resource management practices and how to implement them in your business for success.

Also Read: 7 Easy Steps To Develop Smart Resource Scheduling For Your Business

5 Best Practices for Resource Management

Let’s face it. Every business like yours wants maximum output from the available resources. But most companies find themselves struggling with it. So, what is the best practice to plan resources for work? Read below to find out what are the 5 steps for resource management:

  1. Conduct a resource analysis

    Always start with a bird’s eye view of the resources and their availability before kicking off a project. This helps you estimate the number of resources needed for a project and plan ahead for their availability to eliminate the chances of potential delays.

    If you are working on similar projects, you need not worry about resource management each time. You can use a software platform like Onstro to create project templates with plans, resources, and timelines.

  2. Plan ahead

    You need to have a proactive approach to resource management practices to plan ahead for the uncertainty. The first thing you need to have to create a solid resource management plan is data. Gather data on the available resources, such as their productivity, time taken to complete a task, availability over the past month, areas of interest, and so on.

    This will help you a lot to plan staffing ahead of the project. The creation of a solid staffing plan will help to ensure that the right tasks are allocated to the right people in accordance with their skills and interests. It is better to keep in mind that allocating overwork to an employee might lead to issues in quality and output.

  3. Create a Tracking system

    An efficient tracking system is one of the first prerequisites required for the best resource management practices. That’s where the Asset Tracking System comes in. You can try out implementing asset or resource management software to manage workloads with a clear-cut overview of their tasks, deadlines, and resource allocation. This helps you create a smooth and customized workflow without any disruption.

    Onstro Resources is a dedicated resource management platform that you can consider reliable. It provides a centralized platform to track and manage resources, including personnel, equipment, and materials. This makes it easier to monitor their utilization and availability for an upcoming project.

  4. Prioritize Projects

    The hard truth of resource management is that you cannot meet project deadlines every time. That’s where the need for prioritization arises. Project prioritization is a way to identify the important projects so you can allocate resources wisely. Here are the four steps for that:

    1. List out the current projects on a sheet.
    2. Decide the criteria for prioritization with the prior approval of the authorities.
    3. Apply the determined criteria and figure out the importance of each project specifically.
    4. Use this project prioritization list for the allocation of resources.

    You can prioritize the list of projects based on the customer type, revenue, and industry. For this, you need to have deep visibility into all your projects and the available resources for each of them. Onstro provides a quick overview of the current and upcoming projects so that you can prioritize them accordingly. Moreover, if required, you could even consider contacting the upper management authorities directly for efficient prioritization.

  5. List out a Special Team

    Like the prioritization of projects, it would be a good idea to do the same thing with resources. Every business would have a set of Most Valuable Players (MVPs) who are known for their expertise and experience. Every project needs them, but they only have limited time. So, there is a need for prioritization and resource management.

    You need to understand the value of each resource and ensure that the most valuable ones are engaged in the top-priority projects that demand their skills. Also, make sure that they are not overloaded with work, which ultimately drains their quality. You can also have a word with them to identify their areas of interest and allocate work according to that for better productivity.

Final Words

Now, it is time to get started. Resource management software could be your best guide to implementing a proper resource management plan.

A unified platform like Onstro is exactly what you need for that. It helps you with asset management, ensure that resources are available for an upcoming project, and manage deadlines effectively. Onstro makes it super-easy to break down a single project into simple tasks and find the right person for each task. Try Onstro now and experience how it makes your resource management process easier.

Contact us now for an all-in-one technological platform.

Team Onstro