Resource Management

A realistic set of resource requirement is a resultant of a precise project plan and resource pools. Once we know what are the deliverables and milestones, we are more into a position of understanding our type of effort required and an estimated mandays. It is not only crucial to have a resource requirement and a resourcing plan but it is also the demand/supply of resources on time as per project requirement. Any delay in a project resource allocation or hiring e.g. a subject matter expertise, can have catastrophic effect on the overall project justification. Consequentially, resource management is also deriving the project financial management as major project cost in service sector especially financial services consist of resource cost. These resources can be external or internal resources or a backfill for the existing internal resources seconded to the project. Having a planned approach towards resource management does not only ensure milestones achievement on time but also tightly controlled budgets hence less unpredicted variances.

A resource plan summarises the level of resources needed to complete a project. A properly documented resource plan will specify the exact quantities of resources, equipment and materials needed to complete your project. We believe efficient and effective use of resources can often make or break a project. One of the key risk or issue in most of the projects relate to the resources depending on the subject matter expertise. Our goal of activity resource estimation is to estimate the resources needed for each activity so they can be deployed in the most effective manner.

Effort estimation

Our starting point is always the breakdown of the project into the lowest level deliverables/tasks right at the grass root level. Having a work break down structure (WBS) is a key to estimating effort. Effort estimation usually is accounted for in mandays. Once we approximate the mandays, we then focus on the accuracy of the estimation by updating the estimations on periodic basis based on the updates in the project plan. Based on our experience and consultation with the technical resource teams, we make realistic estimates and plans which are updated periodically and also reported to the management. We work with the project manager for the identification and allocation of resources during the project.

Acquiring resources

Project resources are mostly scarce and should be handled with expert care. We start with a complete list of resources hired/allocated to the project which includes type of resources needed, duration, cost of resource, availability internal or acquire as external. These usually are names if hired or seconded while can also be resource types such as business analyst-1 or Lead Architect in case of hiring in process. Approval granted for all headcounts on project. Criticality is not only acquiring resources but acquiring in time to start the tasks as per project plan ensuring the task start dates do not get delayed hence controlling new risks and issues. Own all relationships with outsource resource suppliers (e.g. of software developers) to ensure scalability of supply and quality of suppliers is in line with current and forecast business demand. Effectively tracking of resourcing position and skill profile including keeping track of accurate picture of new starters and leavers and contractor extensions within the project.

Resource Mapping

Building a detailed project plan including the WBS and estimated effort is a good starting point. Our next focus is to map the resources to the lowest level task/activity where possible. The idea is to have a clear picture of all tasks worked by each resource where possible or have role types mapped instead of the resource names where the hiring is still in process.

Resource utilisation

We need to see how much of actual resources are utilised as compared to the budgeted/forecasted resource plan for every project or workstream in terms of finance and headcount. We can find out the percentage of under or over utilisation of resources per project. Restructuring of the project teams based on the structure and implementing resource pools, creating cost saving and creating efficiency and effectiveness. Over all IT resource allocation as per projects and programs and maintaining a supply and demand summary for the year measuring do-ability. Creating resource utilisation report and resource variance report comparing resources needed and available for the initiatives planned for the year.

Tracking resource/effort

Timesheets are the key when it comes to tracking resources. We strictly ensure that every resource regardless of full time or part time on projects has to complete weekly timesheets. This gives us a view of how much time a particular resource is spending on the projects and subtasks on a weekly basis. These hours gets converted into the financials through the per day rate. Tracking and reporting on headcount data utilising appropriate toolsets across Global Projects. Have specific responsibility for the provision of accurate information concerning resource supply, dependencies and project delivery status to support. Work closely with the resource owners to enable forward capacity planning.