By Multinet Group: Recently

Resource availability is understanding what you need to execute a project, when you need it and under what circumstances. Being able to coordinate the resources you need to deliver your project is key to a successful project that meets its deadline and keeps to its budget.
Being able to track resource ability is key to managing your resources. If you don't know where your resources are, then you're not able to get them where they need to be when they need to be there. That's why planning, scheduling and optimizing your project resources is so important. Otherwise, you're wasting project resources and that'll cost you time and money.

There are many ways to track resource availability. Three of the more common methods are resource scheduling, resource planning and resource optimization. Use these to help you monitor your resources so you can apply them more effectively.

Resource Scheduling
Resource scheduling is used to allocate resources most efficiently to tasks or projects. Part of that is scheduling the start date and end date you'll need for the resources to complete the project. These dates are based on resource capacity and availability.

Resource Planning
Resource planning is about identifying the resources you need for a project and how you'll acquire and allocate them. This is true in project management but is also a critical part of portfolio management when you have to share resources across multiple projects.

Resource Optimization
Resource optimization refers to the methods that make sure that the availability of human resources and nonhuman resources are matched to the project schedule. Some techniques to achieve this include resource leveling (adjusting start and end dates), resource smoothing (keeping requirements within the budget to avoid adding more resources) and reverse resource allocation (starting with the last or most critical task and scheduling backward from there).

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