Introduction
Resource leveling is a procedure in project management that manages resource allocation and solves conflicts arising from over-allocation. When a project manager starts a project, they need to plan their sources accordingly. This will benefit the organization from facing conflicts and will be able to deliver on time. Resource leveling is known as one of the key elements to management of resources in the organization. Problems in the organization arises when the resources are not allocated properly. It is either due to over-allocation or under-allocation, it brings about a financial risk to the organization.
Elements:
The main purpose of resource leveling is to allocate resources efficiently, in order to finish the project in the
It represents both the longest and shortest time duration paths in the network diagram to finish the project.
• Fast tracking - This performs tasks of critical path. The noticeable feature of this technique is that although the work is completed for a particular moment, possibility of rework is higher in this technique.
• Crashing - This denotes assigning resources along with existing resources to finish work faster that are related to additional costs such as labor, equipment, etc.
The objective of resource leveling is to enhance the use of resources (people and equipment) that are assigned to the project. It is the last step in formulating a realistic project schedule, but it is critical for reducing the need to constantly add and remove resources all through the project.
The procedural steps for resource leveling is as follows:
Step 1: For the entire project, forecast the daily resource requirements with the initial schedule.
Step 2: Plot and identify the resource peaks with the use of a resource
Time-phased project work is the basis for project cost control. Work package duration is used to develop the project network. Further, the time-phased budgets for work packages are timetabled to establish fiscal measures for each phase throughout the project. The time-phased budgets are to emulate the real cash needs of the budget, which will be used for project cost control. This information is useful to estimate cash outflows. The project manager's attention is on when the costs are to occur, when the budgeted cost is earned, and when the actual cost materializes. This information is made up to measure project schedule and cost variances (Gray & Larson, 2005). The following are typical types of costs found in a project:
The latter is, therefore, critical in that it determines the level from which incremental benefits from the implementation of a project are derived.
It’s generally your job to determine when you have to start to meet the deadlines. The PS8 scheduling software can give u when to start when u develop the plan. They have to just define the project with tasks, durations and dependencies and then the software will schedule your task backwards in time from the set end date and it will come up with the latest date at which you can start your product to meet the deadline. It’s basically the method of scheduling the production backwards from the end date to the start date and by computing the time and materials required at each stage of the
Effective resource management solutions provide a real-time overview of resource availability which is directly integrated with organization’s project plans in terms of availability, load, utilization, and revenue across all employees in order to assign right people and material to tasks relating to projects and opportunities.
The different stages of the project lifecycle are clearly spelt out in the WBS, allowing management to precisely identify which components are causing cost or schedule overruns and to more effectively mitigate the root cause of the overruns; USDOE (2012, p. 5) and provide specific insights into the relationship among scope, schedule, budget, and performance (p. 7).
Although all of these project-scheduling techniques are very useful and present the entire data in a very presentable format for the project manager and other stakeholders, it is very critical that these be coupled with the other project management techniques to make it a successful
Lack of coordination between the project management team causes the project to work at a much slower rate than estimated.
The whole presentation was about concept of network diagram and beginning to end of project cycle. At the beginning of the presentation he emphasized that as a student studying project management we should understand what network diagram is and have to know how to compress the duration of project down using the diagram. Being closely connected with stakeholders is one of the fundamental virtues of project manager because
In the following section, an overview of the processes is given. Therefore each of the project management knowledge areas is explained with tools and techniques.
Project management involves the use of appropriate processes to deliver a project focusing on efficiency and operational performance (Shenhar, 2004) within constraints of time, budget, and scope (Kerzner 2009, 2010; Maylor, 2010; Morris & Pinto, 2007; Sanghera, 2010 Wysocki, 2009, 2014).
A desired result is achieved more efficiently when activities and related resources are managed as a process.
Project management creates a situation where the workers perform their duties and responsibilities in a structural and devoted manner. With much dedication and focus it is possible to use fewer workers to accomplish and execute a project. Allowing fewer workers to perform a project allows frees up possible persons to work other tasks. The increased efficiency of teams in their tasks is of a consequent meaning that the effectiveness of the organization as whole is increased as well (Larson, 2014). Doing this allows project management the ability to hold people accountable and this makes the workers much more efficient in their tasks than a slew of
project management is to complete the tasks involved in the project faster and with strategies in
...creased project value generation” and subsequently enhanced productivity. When time management is organized in a way to exploit the risk opportunities identified in the early project phase, increased productivity can result.
Project management involves all activities that encompass scheduling, planning, and controlling projects. A successful project manager ensure that an organization’s resources are being used both efficiently and effectively. Most projects need to be uniquely developed require a sense of customization and the ability to adapt to any posed challenges. The scope of effective project management includes defining what the project is and what is being expected to be accomplished. Projects are imposed to fulfill a certain need and project managers must have the ability to create the proper definition. Goals and the means used to attain those goals have to be clearly stated. Project Managers must also have the ability to plan