Project Management Name: Course: Instructor: Institution: Date: Project Management In an organization, there will be times where the client will ask them to take up additional projects. During such times, an organization will have to come up with new ways in which they can implement the project in the quickest and most efficient ways.
They need to look for the necessary resources that will make the project a success and employ them. These resources play a crucial role in a project so management should make sure they have employed the best ones in the market. There are advantages and risks that accompany these resources and management has to put these factors into consideration before using a resource (Larson & Gary, 2011).
Assigning the right resources for a project helps an organization save time and money. This is achieved through reforming and enhancing the competence in employee task scheduling, and in this way, employers and human resource managers are able to avoid unnecessary costs. These expenses include those that would cater for overtime. More time is also saved, as some resources are able to detect in advance any problems that may come up in the course of implementing a project.
This way efficiency is improved and as a result, no time is wasted because of repeating work that was already done previously. The other advantage of proper resource allocation is the ease with which work can be allocated and delegated to other people. This is possible as most resources are flexible to change and management can easily explain to their employers what is required of them. For a project to achieve efficiency and minimize costs, it is crucial to ensure that everyone in an organization understands can easily operate the programs. Thus, in the end, cost is reduced and efficiency is maximized. It is therefore crucial for project managers to assign the proper resources to the right project to make it a success. As much as resources are beneficial to a project, there are also risks that come with it. Some risks can impede or delay the project to design and affects the implementation stage.
One of the resource risks is the lack of commitment from staff. The staff in an organization plays a key role in how a project is implemented. If they choose not to support the project adopted, it would mean that the project would flop. Another risk is the lack of sufficient funding. When a new project is implemented, a firm needs enough funds to make it a success. If they lack enough funds to start and run the project, there is a risk of failing. Thus, organizations have to make sure that they are equipped with enough funding (Hulett, 2009). In addition to these risks, management should work hand in hand with the project managers to ensure they have sufficient resources.
They should be in agreement with how the project manager chooses to run the project. For instance, a firm should be ready to hire the right staff to implement the project no matter how much it costs. They should not go for another option just because they are cheaper. After they have hired staff for the project, they should ensure that they have the resources to give them the proper training they deserve. They should not settle for anything less or assume that they should not train their staff.
It is therefore vital that management go through the benefits and risks that they will face when implementing a project. This will help them know what they can expect in the future. It will help them come up with plans to counteract these problems so that when they arise they know how to resolve them. This research will also help them save time and money, as they will be able to tell which method of implementing a project best suits them. Reference: Hulett, D. T. (2009).
Practical schedule risk analysis. Farnham, England: Gower Pub. Co. Larson, E. W., Gray, C. F.
, & Gray, C. F. (2011). Project management: The managerial process. New York: McGraw-Hill Irwin.