Resource planning is the process of analyzing, identifying and acting upon the current needs of a business and planning the most effective ways to meet these needs. The plan helps business owners plan for the future as well as making plans for what is needed now. Resource planning can be divided into three main components.
An Analysis is the first step that needs to be taken to determine how much of a business’s cash flow comes from the current resources and how much will come from new resources. This will help identify areas where funds can be redirected to meet current needs or potential resources. This section of the plan should not be separated out as it is really all related and important to the overall plan.
The next step involves developing a marketing analysis which will determine what type of market size a company has, both within the country and globally. Marketing strategy, price, product, and service will be using to formulate the current plan, as well as taking a look at the future market demand. What resources are required for the project will also be determined by the analysis.
Current cash flow and budgeting for resources will be outlined. From this the project manager can determine the amount of money that is required to launch the project. In addition to planning, budgeting must be done for a project so the budget can be defined and properly defined projections can be made with the budget planning spreadsheet.
The next step in the planning process involves determining how much of an internal resources the company can make use of. There are many ways to do this including setting up budgets for other projects and departments within the company. The internal resources will then be added to the project budget, along with the anticipated cost of the project.
All costs associated with the project should be written down so they can be tracked and managed properly. The next step in the process is to review the completed budget, see where the project was short changed and fix any deficiencies before moving on to the next project.
All different resources that the company uses for the project should be defined and mentioned. This will include the most significant resource that is used to meet the project. This can include the amount of money that is spent for equipment, labor, and supplies.
Using a resource planning spreadsheet will allow the project manager to keep track of every cost associated with a project. The spreadsheet will show any recurring expenses and will allow you to see what your monthly budget is each month. As you can see, resource planning is an essential part of any successful business.