Control Resource Management Process with These KPIs
Resources Utilization metric plays an important role in profitability of the project. It is taken as a part of the process change management. This process change is triggered during a management review or project managers meeting.
When defining the resource utilization, estimating and scheduling the project, it should be analyzed if the team has newly joined members or senior experienced staff.
The use of Resources Utilization metric prevents the project manager from deploying more than required resources on the project. Resources Utilization optimizes the use of the existing resources by providing the staff with detailed plans and task assignments.
Why do business professionals choose ready-to-use KPIs?
Read Why do business professionals choose ready-to-use KPIs? to find out the answers to these questions:
- Can a business professional research KPIs on his own?
- How do I avoid typical problems with KPIs?
- Is ready-to-use KPI applicable in my niche?
- Is KPIs' price affordable?
- Can KPIs can be easily integrated in any business environment?
- How can KPIs make the difference to the business?
What are the benefits of Resource Management metric:
- Recourse management metrics package is a part of a HR package. Evaluation of such metrics will make it possible to reveal the best fitting employees for a particular task or a project.
- Human capital return on investment will make it possible to calculate revenues minus wages and operating expenses.
- Since internal processes directly influence performance of a company, it is imperative to timely and accurately evaluate HR.
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More ideas on using Resource Management KPI
'Resources' is a collective term for all the inputs that enable an organization establish its purpose of 'manufacturing a particular product' or 'delivering a given service'. This makes the term extremely broad in its scope.
Ideally speaking, it covers categories like 'human resources', 'data bank', 'financial resources', 'inventory' and 'IT (Information Technology).
Owning such groups is one thing and utilizing these to draw the desired benefits is an altogether another aspect. This is to say that the managers should neither ignore nor undermine the subject of putting resources to 'maximum good use'.
On of the ways by which this can be ensured is employing a 1990s emerged management strategy called BSC (Balanced Scorecard). This depends on the metrics brought together on this document after enough dealing with the subject.
Factors that are seen important to the success of 'resource management' are captured in the form of KPIs (Key Performance Indicators) and followed for future corrections. A word of caution here is to select only those indicators that are capable of mirroring the progress and growth in the direction of Utilization of Resources. One also has the option of utilizing resource management software that are available in the market.
More useful information for Management Evaluation
Resource Management Evaluation Balanced Scorecard Screenshots
Metrics for Management Evaluation
This is the actual scorecard with Resource Management Performance Indicators and performance indicators.
The performance indicators include: hr to revenue ratio, revenue factor, human capital value added, human capital return on investment, hr to cost ratio, labor cost revenue ratio, cost per hire, health care costs per employee, equipment resources, availability, performance, overall equipment effectiveness, resource cycle, cycle time, lead time, risk metrics, value at risk, capital adequacy ratio.
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