Resource management
Name: Judith González Cardona
NUA: 117532
Task 1 Resource Management study guide questions.
What is Resource Management?
It is a skill or methodology that must be acquired in order for a business to succeed, like its name estates - it manages the way businesses need to handle their raw or processed material in order to maximize their profits.
Mention what is the importance of Resource Management in business.
The importance of having an overall control of Resource Management relies in the profits that the company can make with the material that is available during a period of time.
What are the Concepts and Components of Resource Management?Define them in detailed.
Three aspects to consider
Definition of resource managing: a way to produce output in a civil manner, I need to know exactly what I am working with, what is my purpose, the way my people work - or even more detailed aspects of the company like human resources, assets, facilities, etc.
Availability: the amount of raw material that can be available to me
Control: how much power do I have over the material that is available to me, how much access I can have to the raw material.
Resource scheduling
It is the act of organizing and distributing the resources that are available to the company, in order to do this we need a centralized chart view of the enterprise - this helps us have a clearer picture of where our raw materials need to go and assign them to a specific project during a certain period of time.
Resource utilization
It’s a KPI that is in charge of measuring how long it takes for employees to complete certain tasks during the amount of time that they invest in the company and it can be measured through the overall source utilization - it is especially important to managers and business owners because it maximizes their billable utilization.
Resource forecasting
It helps minimize the effect that might happen across the chain of supply - areas in which producers miscalculate the amount of material they might need (it can be either too much or too little) and helps the overall flow of the pipeline function better.
Resource and capacity planning
This concept integrates the ones we have seen so far into one in order to ensure that none of the vacancies go unfilled or excess capacity gets wasted (maximizing optimal utilization).
Business intelligence/reporting
With business intelligence, we try to find the answers to our questions through the analysis of data or big data. This tool utilizes individualized reports and thorough analysis of the processes we make up in our company.
What are the advantages of resource management?
It improves the overall output of the results that a business might have - this because it helps prevent discrepancies along the chain of supply and creates a better understanding between suppliers, buyers and the needs of the customers - when we take control of complicated tasks such as predicting the needs of the different areas and how much material they need in order to do a good job, we find that a better performance is ensured.
5.What are the skills that every resource manager should have? Explain
each in detail.
Communication skills
It is important for a RM to have good communication skills because they are in charge of assigning jobs to the employees that are qualified for them and praise them when they are doing a good job as well as reprimand them when they are not.
Conflict resolution
Conflicts are inevitable in an organization - miscommunication happens often and in order to avoid it escalating further the person in charge needs to step up and find a way to resolve them in a peaceful manner.
Domain knowledge
In order to be in charge of people in a professional area, you have to have complete knowledge of all the technicalities that go on in said field - this way you can guide your employees and earn their trust so they may feel comfortable coming to you for guidance.
Proactive planning
In order to make sure an order is completed to fulfillment or a project is wrapped up in a perfect manner, beginning to plan ahead of time is absolutely necessary but it is not a skill that everyone has.
Negotiation skills
Negotiation skills can be acquired through time but the reason they are so important to have when you are in charge is because you are the official representative of your team and giving a bad image in front of your clients can have repercussions in the entire company.
Risk management
It is always imperative to understand the risks that might arise in a business, knowing when they are worth the trouble or consequences is a task that falls in the hands of the managers and leaders of an organization and the reason it’s so important for them to know how to balance them is because it affects the entire business and the people in it.
References
Saviom, 2021. What is Resource Management and its Importance. Retrieved, December 29, 2021, from: https://www.saviom.com/blog/what-is-resource-management/
I agree with the skills that every resource manager should have. I believe that communication skills are a must. If they don't have these, they won't be able to resolve conflcits or negotiate. Excellent research!
ResponderEliminarI agree that having a global control in the management of resources is reflected in obtaining benefits, but it is not only about materials, it is also about people and time that must be taken advantage of.
ResponderEliminarI agree with all your answers, but the one that I liked because of the way you synthesized information was number 4 because you applied the knowledge we learned in the Supply Chain class, very well done :)
ResponderEliminar