When it comes to Project Management, you must know the resources given to you, and if they are less in number, a successful Skilled person will be able to manage the same with their knowledge and experience. Resource allocation is the process of allocating a Resource that would yield maximum result in its field. There can be six types of Major resources: People, Machines/Tools, Materials, Facilities, Money, and Time. Let’s see what are steps you need to follow for a successful Resource allocation and completion.
Identify Availability of Resource: The First step towards this will always be finding out what kind of resources you have and all you can do using them. Find out whether it is widely available and what the loopholes you need to work on are.
Understand the Scope of the Project: A project can come with different scopes and opportunities. When you are assigned a task, make sure you define the goal of the project, what roles will be given, how to approach it, and what amount of time you would need to do the same.
Make small Tasks to Finish the Project: Without directly jumping on the project, you should make small tasks and assign them to the different individuals working on the same project. Once the other small groups do all the small jobs, you will see that they are almost done once you align them all. All you need to do is a little brushing up here and there.
Track Time: Discuss with your teammates how much time the project might take to complete. Keep some buffer time and set a framework for that time. Calculate the billable and non-billable amounts and process accordingly.
Don’t Over Allocate: Once you are clear with the project, don’t start panicking and giving loads of tasks to one person. Over allocating can disturb the natural flow of the process and disrupt the team’s productivity as a whole. Over allocating on you can also lead to mistakes and bugs, which will be extra work.
Resource Allocation is an integral part of a Successful Project. xTimesheet has always believed in achieving small milestones to add up to bigger ones, and that’s why we suggest you take the baby steps too!