Week 5: Resource Management in Project Management (graded)
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As a project manager, part of your responsibility will be identifying resources that you have available and those resources that you may need in addition to what is currently available. Once you know what physical and human resources you have at your disposal, you then use the PM tools introduced in the lesson to allocate and schedule them. In thinking about your project, what resources might you anticipate being the most concerning to secure and/or manage? I look forward to your thoughts and to interacting with some of you this week!
Expert Solution Preview
Introduction:
As a medical professor, I understand the importance of resource management in project management. In order to effectively manage a project, it is imperative to identify the resources that are available and those that will be needed in the future. In this context, I will provide my thoughts on the resources that I believe might be the most concerning to secure and/or manage in a project.
Answer:
In my opinion, the two most concerning resources in project management are time and funding. Time management is crucial in a project as every task has a specific deadline that needs to be met. It is important to allocate time efficiently to complete tasks on schedule. Additionally, funding is essential for the success of a project. If a project runs out of budget, it will negatively impact the project’s timeline and can ultimately lead to failure. It is important to identify the sources of funding for a project and to manage the budget effectively to ensure that there is sufficient funding until project completion. Therefore, as a project manager, it is important to allocate time and money wisely and to monitor them continuously throughout the project lifecycle.
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