7 Secrets of Effective Resource Management

[The 7 secrets, or best practices, of effective resource management, as articulated by BizMerlin customers.]

  1. Use a good cloud based resource allocation platform and leave the spreadsheets behind. Make the Resource Project Allocation matrix public (within the company) – Including under utilized and over-allocated!
  2. Use a Skills Matrix, and keep it updated
  3. Anyone should be able to raise a “Resource Issue”.
  4. Project Management Team should be able to create Resource Plans. Technology should calculate resource gaps and alert RM team
  5. Resource Management Team should be able to see all “Resource Issues” and “Resource Gaps” together.
  6. Set Goals that Force and Reinforce the Resource Utilization
  7. Build a culture of positive feedback and reinforcement.

3% = 100% Rule in Resource Management

3 percent = 100 per3% = 100% is an empirical rule in resource management that states that a 3% difference in resource management can lead to 100% difference in profitability.

As an example, a typical 100 people services organization in the US, that is able to utilize its resources at 83% utilization level may be making a profit of about $500K dollar a year. That profit can double (that is, an increase of 100%) if the utilization changes to 86% (that is, an increase of 3%). Correspondingly, a 3% drop in utilization (to 80%) can erode away almost all of the profit.

See this attached spreadsheet for more specific numbers.

Set Reminders for Anything

BizMerlin “Set Reminder” feature allows you to set the reminder about your important notifications as per your requirements and needs.

BizMerlin Reminders
Reminders can be anything for example; any recruitment or opportunity or any upcoming events in the organization. As you set up a reminder in the system, a reminder notification will be sent to your email.

Everyone can set reminders that are customized from their perspective. For example, as an active “doer”, you can set reminders for the opened tasks, projects, or the set goals. If you are part of HR, you can set reminders for any recruitment or opportunity that needs to be taken care of.

All you need to do is to set the subject of the reminder with a message on the specified date. You can choose the recipients: it can be the user itself or any other user. The user receives the reminder mail on the date as saved.