Resource management is a vital part of project management. If done correctly, it could prevent the derailment of your final project. However, many projects get into trouble even when resource management is already being used. The problem is they ignore the warning signs that the project is clearly sending. Nicholas Holmes of PMHut.com suggests six signals that every project manager should look out for.
1. Unknown, uneven or low utilization: Over-utilization can be just as dangerous as under-utilization. While the latter will lose you money, the former will result in spreading your project team too thin.
2. Overuse of contractors: Sometimes the processes you are paying to contract out could easily be done from within, if you reassess and manage correctly.
3. Long lead time on reports: The problem isn’t so much the reports, as it is the time that lapses between receiving a timesheet and taking action.
4. Larger than expected salary spend: If you’re breaking the budget every month, it’s time to figure out where the errors are taking place.
5. Project slippage due to resource constraints: Don’t be late just because it took you extra time to get the right people in place.
6.Compliance issues: If you think you may be facing some compliance issues, it’s best to nip that in the bud early on. Don’t be at fault later when someone checks your records.