Written by Coursera • Updated on Aug 27, 2022 Show
Discover the important role resource management plays in projects and business. Learn about resource management careers to see if it's a good match for you. Resource management is the process of enhancing efficiency and guiding when and how resources, like employees, equipment, and tools, are used. Resources include everything needed to achieve goals. They may also include technology, square footage, and finances. As a resource manager, you'll look at all the elements needed to create a successful event, like a fundraiser. You'll have to prioritize and effectively use resources like promotional materials, hired staff, and a location to ensure you schedule everything appropriately and within the budget. In this article, learn about resource management, the different types, and what potential employers look for in a resource manager, including education, experience, and relevant resource management skills. What exactly is resource management?Resource management is a series of processes and techniques used to ensure you have all the necessary resources to complete a project or meet business objectives. It also focuses on making the most efficient use of those resources by eliminating waste for more profits and a high return on investment (ROI). Resource management puts you in control to avoid conflicts as much as possible. Example of resource managementThink of it like this: Imagine you were going to bake cookies. To get it done quickly and on a budget. You also need to determine what ingredients you already have, the ingredients you need to buy, and the equipment you need to use for preparation and baking. Not to mention, you need to know the steps for making the recipe and the time required. If you prepare, you can bake a beautiful batch in the time you allot for the project. Suppose you decide to skip reading the recipe ahead of time. You might be in the middle of making the dough when you realize you need to go to the grocery store to buy something. The cookie-making process could take significantly longer because you didn’t consider all the resources ahead of time. Types of resource managementSeveral techniques are available for resource management in projects, departments, and entire companies. Resource management methods include the following:
Why is resource management important?Resource management provides business stability by helping you get the most out of your resources. To maximize efficiency and to keep things running smoothly, you'll have to track how resources are used to help avoid overuse and underuse. As a result, you’ll gain control, profitability, and efficiency, among the main benefits of effective resource management. Benefits of resource managementResource management is helpful for businesses of all types, including startups, small businesses, and large enterprises. It offers a variety of benefits to support business success, including:
Costs of ineffective resource managementOn the contrary, not having good resource management can be costly, which underscores why it’s such an essential element. Data from a Project Management Institute survey suggests that around 21 percent of projects fail because of limited or overtaxed resources [1]. The fallout isn’t limited only to individual projects. Without resource management, the stability of the organization suffers. Poor resource management can be costly in a variety of ways:
How to become a resource managerThe career path you take may vary slightly depending on the role you want to pursue. It should determine the degree you choose, the experience you gain, and the skills you need to become a good resource manager. Education and experienceMost employers look for professionals with at least a bachelor’s degree to become resource managers. According to Zippia, 64 percent of resource managers hold a bachelor’s degree, and 16 percent have an associate degree [2]. You may choose to earn a business degree or a degree in communications, computer science, or finance, for example. Helpful courses include macroeconomics, business analytics, operations management, and project management. Additionally, you’ll likely need some experience in project management or the industry you want to work in. For example, suppose you want to work as a health care resource manager. In that case, employers may look for a few years of experience as a staff nurse or administrator. Required skillsTo be effective, you'll need to cultivate many different skills. Some essential skills include adaptability and communication because you'll work with many different people, teams, and departments. During your education and professional experience, work on gaining workplace and technical skills to enhance your resume. Workplace
Technical
Recommended certificationsCertifications aren’t strictly required. Earning a credential can demonstrate your expertise to potential employers to help you gain a competitive edge. It’s also an opportunity to develop advanced skills to help make you a more effective resource manager. A few to consider include the Resource Management Institute's Resource Management Certified Professional and Project Management Institute's Project Management Professional (PMP). Read more: 10 PMI Certifications to Level Up Your Project Management Career Resource managers typically manage and allocate non-human resources throughout an organization. However, if you choose to pursue human resources management, you would recruit, hire, train, and manage employees and staff, which is a variation of resource managers. Although you may find jobs specifically for resource managers, the role often has other job titles. Some common positions in resource management include: *All salary data is sourced from Glassdoor as of August 2022
Senior-level careers in resource managementMany C-suite roles require resource management, among other responsibilities. For some jobs, that will mean working with specific resources. For example, you'll work with capital and other financial assets as a chief finance officer. However, as chief executive officer, you would take a high-level approach across the entire company. Some senior-level resource management roles include:
Start a career in resource managementResource management plays an essential role in projects and business. Pursuing a Professional Certificate on Coursera can help you build the necessary skills to become an effective resource manager. With the Google Project Management Professional Certificate, gain hands-on experience with industry tools to help develop your skill set as a resource manager. professional certificate Google Project Management:Start your path to a career in project management. In this program, you’ll learn in-demand skills that will have you job-ready in less than six months. No degree or experience is required. 4.8 (65,474 ratings) 835,225 already enrolled BEGINNER level Average time: 6 month(s) Learn at your own pace Skills you'll build: Organizational Culture, Career Development, Strategic Thinking, Change Management, Project Management, Stakeholder Management, Business Writing, Project Charter, Project Planning, Risk Management, Task Estimation, Procurement, Quality Management, Project Execution, Coaching, Influencing, Agile Management, Problem Solving, Scrum, Effective Communication Related articles
Article sources1. Project Management Institute. “Pulse of the Profession 2018: Success in Disruptive Times, https://www.pmi.org/-/media/pmi/documents/public/pdf/learning/thought-leadership/pulse/pulse-of-the-profession-2018.pdf.” Accessed July 24, 2022. 2. Zippia. “Resource Manager Education Requirements, https://www.zippia.com/resource-manager-jobs/education/” Accessed August 22, 2022. Written by Coursera • Updated on Aug 27, 2022 This content has been made available for informational purposes only. Learners are advised to conduct additional research to ensure that courses and other credentials pursued meet their personal, professional, and financial goals. What is the process of managing resources to achieve goals of an organization?Resource management is the practice of planning, scheduling, and allocating people, money, and technology to a project or program. In essence, it is the process of allocating resources to achieve the greatest organizational value.
What is the resource management process?Resource management is the process of pre-planning, scheduling, and allocating your resources to maximize efficiency. A resource is anything needed to execute a task or project — this can be employees' skill sets or the adoption of software.
What is the goal of resource management?Let's start with a simple definition of resource management. It is the process of planning, scheduling, and allocating organizational and project resources in the best possible way. From the beginning stages of your projects right up to the very end. Its ultimate aim is fulfill project, task, or organizational goals.
Is the process of achieving objectives by using resources?Management is a process designed to achieve an organization's objectives by using its resources efficiently accomplishing the objectives with a minimum of resources and effectively having the intended result.
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