5 Effective Resource Allocation Tips for Enterprises Today

What is Resource allocation? It is the term that is used to refer to the process of distributing the resources available in an organisation. The distribution should be done in a way that every project gets its own share of skilled resources, and at the same time, there are no resources who are not allotted to any project. In other words, resource allocation is all about optimal utilisation of the available resources and requires a fair amount of planning.

With multiple factors like skillset, performance, location, shift timings, weekly off and more to be considered, allocating resources efficiently can be often more complex than what it appears to be. However, here are 5 tips to help enterprises optimise the process of resource allocation.

Tip 1: Analyse the Scope of the Project

One of the primary factors to consider when it comes to effective allocation of resources is the project in question and its scope. The requirement of the resources will be determined by the scope of the project. The scope helps you get an idea of the number of resources required to work on the project and the total duration of the project, as defined by the timeline shared by the client. Once you have the scope figured out, choosing the right resources and defining the required working hours becomes a relatively simple process.

Tip 2: Bringing the Right Resources Together

Now, once you have the scope of the project figured out, the next logical step is to bring together the resources that meet the requirements of the project. In other words, you need to find resources that are available at the location, have the desired skillset, and are free for the required number of hours every day. At this step, you might have to split the working hours of a single resource between two or more projects in order to fulfil the skillset or other requirements.

Tip 3: Always Have a Plan B

When it comes to managing the resources for multiple projects, there is always the possibility of unexpected turn of events. For instance, one or more resources whom you had allocated to a project might not be available for a few days. In such a scenario, there is the risk of the project deadline being affected because of task dependencies.

This is something that a resource allocation manager should be able to foresee and should have a plan B to fall back on under such circumstances. It is important to ensure that absence of one or more resources does not affect the project and its successful completion.

Tip 4: Make Use of Time Tracking Tools

When you have the responsibility of allocating and managing resources, it is a good practice to keep track of the time taken by the resources to complete a specific task. The trick lies in being aware of what task has been allocated to which resource and whether any one of them has too much on their plate to be able to complete all of it within the set timeline.

In other words, effective distribution of the workload is key to ensure every team member works effectively and efficiently to complete the project on time. A time tracking platform like Digital HRMS that allows every resource to enter their daily work logs, can be a useful tool in this regard.

Tip 5: Use Reports to Your Advantage

Last but not the least, it is important for you, as the resource allocation manager, to know whether everything is going on as per the plan. Also, there might be the need for changing the resources in the middle of a project due to high priority tasks that come up. To manage it all, you need to get hold of the exact figures at the ground level and this is where the reports can help you.

For instance, the Digital HRMS platform enables you to generate automated reports on the progress of the project, the tasks allocated to each resource, and other key factors. This way, you get access to real insights that help you make an informed decision.

So, that was about the key tips to help enterprises get started with effective resource allocation that helps the team reach goals and meet deadlines. Do you have more tips that would help resource allocation managers? Share your thoughts in the comment box below.