Here Is How You Can Improve Resource Allocation

Resource management comprises several elements that you have to follow consistently until the completion of projects. First, conduct extensive research, and then bifurcate the project into tasks. After that, resource allocation takes place, and the project is eventually completed. In this entire process, resource availability serves as an inherent aspect of resource management, but there are times when it gets compromised. Employees fall sick, projects go over budget, and there are many such circumstances that can delay the project completion. In his article for Digital Project Management, Ben Aston shares three ways to improve your resource allocation methods for better project management.

Tips for Resource Allocation

Involve Your Team

One of the main reasons for the resource allocation not being effective is the lack of team collaboration. To avoid your resource allocation process being prone to risk and failure, you should involve your team members in expansive brainstorming sessions and feasible ideas. Another benefit of involving your team is that all of you would be on the same page and have a better understanding of the resource allocation and its management.

The Critical Path Method

The critical path method (CPM) works on a basic principle. Some project tasks are dependent on other tasks, and the longest line of such functions in a project defines the critical path method. CPM focuses on using time strategically to execute tasks. Through this method, the critical path prioritizes tasks and calculates the earliest and latest start and finish times. CPM gives you a better idea of managing your time and making adjustments in an ongoing project.

The Critical Chain Method

The critical chain method (CCM) is considered an extension of CPM, where it accommodates resource limitations and task dependencies. Aston states, “The CCM also doesn’t put the same emphasis on finding an optimal solution like the CPM. With the CCM, getting it done is good enough.” The CCM acknowledges CPM’s “multitasking criticism and also creates a margin for setbacks.”

Resource Leveling and Resource Smoothing

Resource leveling helps you in preparing the layout while accommodating resource availability. It allows employees to prevent themselves from overcommitment and professional exhaustion. On the other end, resource smoothing focuses on reducing resource demand and enables you to progress while keeping time constraints in mind. Resource smoothing helps you in allocating the available resources more smartly and efficiently.

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