For any project-driven business, the most valuable resource is its PEOPLE. Highly skilled and competent project talent is the biggest asset of your company, regardless of whether they are working on internal or client-facing projects. But are you using this precious resource in the best way possible?
This is where the Project Resource Management Application steps in. A part of the Oracle Fusion Cloud Project Management solution, Resource Management enables your business to optimize both the allocation and utilization of your people. Its user-friendly features allow project managers and/or resource managers to find the best fit resource for every project assignment. This not only benefits your organisation but also the resource (as he/she is better able to use their skills where they are utilised best) as well as the end customer.
Oracle Fusion Cloud Project Management is a single, highly sophisticated, enterprise solution that works in conjunction with Finance, Operations and HCM applications to improve project delivery and profitability. It has several modules, like:
· Planning, Scheduling and Forecasting
· Cost Management and Control
· Billing and Revenue Management
· Project Asset Management
· Grant Management
· Resource Management
· Resource Management Self-Service
· Task Management Self-Service
However, today we are going to focus on the Resource Management module and talk about why it’s such a great choice for project-driven businesses.
Resource Management: It Delivers What It Promises
As any project-centric enterprise would know, resource management is critical for successful project delivery and implementation. By optimizing the skill sets of your project-focused resources, you are in a better position to complete projects on time without cutting into your profit margins, as well as keep the client happy.
With Resource Management, you are assured of intelligent deployment of all your resources for the best project outcomes.
But how? Resource Management offers powerful search tools that are designed to match resource demand against skill profiles, resumes and calendars of project resources to find the best fit. It gives resource managers a quick look into all available as well as best-suited resources, giving a quick insight into resource pools. What’s great is that the data can also extend beyond the employee workforce on payroll to include contingent labour or outside vendors who might be a better fit for the job.
Candidates Can Be Evaluated To Find The Best-Fit
One of the best features of Resource Management is that it makes searching for the right candidate very easy, so project managers can find the best-fit resource for every job without wasting much time.
The application allows for automatic evaluation and score of suitable resources, presenting the resource/staffing manager with easy-to-understand visual indicators to find the right fit for each project assignment. It allows managers to browse, explore and shortlist project resources using familiar web search options like filters and match thresholds to increase or narrow the range of resources to focus upon.
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The very handy search tool allows a quick glance into
· skills and qualifications of resources
· desired proficiency levels
· available capacity
· absences and non-project time
· vacation or training schedule
· existing project commitments
With this detailed insight, it becomes easy to not just manage project resource assignments and send the right people to do the right job, but also boost billable hours directly improving company profitability. Resource Management also allows for a side-by-side view comparison of candidates to rule out any under/over qualified resources.
Image Credits: www.oracle.com
The best thing – the application shows all matching keyword hits, along with availability details and allows managers to find the top 5 candidates for the job.
Project Staffing And Scheduling Is Optimised
Resource Management offers a workflow-enabled lifecycle that ensures all project assignments are streamlined, wherein the right people are deployed for the right projects at the right time. Its handy features make for efficient managing of staff scheduling which is super beneficial for larger projects that require multi-resource requests, even allowing for approval and rejection of candidates as proposed by managers.
Project managers can propose candidates for tasks with a quick turnaround or nominate resources for a detailed evaluation process, depending on the unique needs of each project. This also helps keep project and resource managers fully informed of the updated evaluation status of all resources on board.
A visual representation of the said resource’s schedule can identify any potential conflicts, simplifying assigning and scheduling of staff by facilitating informed decisions to avoid over-booking. The application also provides options to request replacements or alternatives which are inevitable eventualities as project planning progresses, or where another resource with a different skillset might be needed to complete the job.
The software further simplifies life as Project managers get the flexibility to schedule resources for a specific number of hours a week or variable hours a day on a project, with the option to repeat a weekly pattern for the lifecycle of the assignment. Users can also easily assign resources to several part-time requests to maximize utilisation but avoid over-allocation on specific days. For complex projects, managers can assign multiple resources with specific weekly repeating patterns to meet the unique needs of complex project schedules.
Resource Management also allows project managers to soft book the right resources at the start of a project, and confirm actual work details once the time is right. It also allows users to search and shortlist experts and contingent workers in advance with hire dates set in the future to save time later on. To cater to the evolving project needs, this application handles mass-creation, mass-adjustment and mass-cancellation capabilities to simplify life for project managers.
What Makes Resource Management A Great Choice For Any Project-Driven Enterprise?
Project-based businesses strive to achieve the highest possible levels of resource utilization; it is after all the key to their success.
Resource Management allows your business to track and manage utilisation targets at every level of the organization - from individual resources upwards (filtered by region, line of work or practice), through intelligent resource pool hierarchies and dynamic performance insight. It can optimize resource and pool performance utilising actionable analytics – like showcasing actual utilization, highlighting bench statistics, and/or identifying unassigned resources – giving immediate insights into pool performance and resource utilization trends.
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Let us summarise some of the key features of Resource Management:
· Find the best-fit resources for project assignments based on skills and availability
· Actionable dashboards that monitor performance and maximise utilization targets
· Easy-to-use search capabilities that offer keyword matches and allow for resume-based searches
· Overview of resource availability including project assignments, absences and other commitments
· Shortlist preferred candidates and offer side-by-side comparison to find the best person for the job
· Quickly mass-assign resources without wasting time on requests or shortlisting
· Adjust multiple resource assignments at once
· Resource cost and bill planning rates can be maximised
· Schedule labour resources with variable hours for multiple assignments
· Real-time reporting on project resource management information
· Unified with Oracle Cloud HCM for talent profiles and absence management
Resource Management is an excellent tool when you are looking for innovative project delivery and unparalleled project financial management solutions. It helps any project-centric organisation refine and streamline its project management processes to boost customer satisfaction, expedite project delivery, and communicate increased project value. It allows your decision makers to shift their focus from project work status and completion nitty-gritty to more efficient execution, faster implementation and better project outcomes.
With competing business needs, this application ensures limited project-focused resources and specialised skill sets are valued and optimized for the best business outcomes. It’s definitely worth exploring!
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About Projects Expert
Projects Expert is the first-of-its-kind Oracle partner that specialises in Project Centric Enterprise Solutions. We aim to deliver sustainable, robust, and business-friendly Oracle solutions for Projects driven organisations.