How do you measure and report the value and impact of your project resources?

2 Estimate resource costs

The next step in creating a resource management plan is to estimate the resource costs for your project. This means estimating how much money you need to spend on acquiring, using, and maintaining the resources for your project. You can use various tools and techniques to estimate resource costs, such as analogous estimation, parametric estimation, bottom-up estimation, three-point estimation, and reserve analysis. You should also consider the project budget, funding sources, cost baseline, and cost management plan.

3 Allocate and schedule resources

The third step in creating a resource management plan is to allocate and schedule the resources for your project. This means assigning the resources to the project activities and determining when they will start and finish their work. You can use various tools and techniques to allocate and schedule resources, such as resource leveling, resource smoothing, critical path method, critical chain method, and resource optimization techniques. You should also consider the project schedule, milestones, deliverables, and resource calendars.

5 Measure and report resource value and impact

The fifth step in creating a resource management plan is to measure and report the value and impact of your project resources. This means evaluating how well the resources contributed to the project outcomes and benefits and communicating the results to the relevant stakeholders. You can use various tools and techniques to measure and report resource value and impact, such as key performance indicators, balanced scorecard, return on investment, benefit-cost ratio, and stakeholder feedback. You should also consider the project objectives, deliverables, and lessons learned.

6 Update and improve resource management plan

The final step in creating a resource management plan is to update and improve the resource management plan based on the feedback and lessons learned from the previous steps. This means revising the resource management plan to reflect the changes and improvements that occurred during the project execution and closure. You can use various tools and techniques to update and improve the resource management plan, such as change management, knowledge management, continuous improvement, and best practices. You should also consider the project closure, documentation, and handover.