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Project Cost Savings and Resource Management Go Hand in Hand

August 2, 2023

As an implementation manager, you know how important it is to deliver projects on time, on budget and with quality. By managing your resources effectively, you can also achieve significant cost savings for your organization.

What Is Resource Management

Resource management is the process of planning, allocating and optimizing the use of human, financial, physical and informational resources to achieve project objectives. It involves identifying the right people for the right tasks, ensuring they have the necessary skills, tools and support, and monitoring their performance and progress.

Cost savings are the benefits that result from reducing or avoiding expenses, increasing efficiency or productivity, or improving quality or customer satisfaction. They can be measured in terms of money saved, revenue generated, or value added.

Cost Savings Through Project Resource Management

By managing your resources well, you can achieve cost savings in several ways:

  • Avoid overstaffing or understaffing your projects, which can lead to wasted time, money and effort, or missed deadlines, scope creep and quality issues.
  • Optimize the utilization of your resources, which can reduce idle time, overtime costs, turnover rates and training expenses.
  • Leverage the skills and expertise of your resources, which can enhance innovation, collaboration and problem-solving.
  • Align your resources with your strategic goals and priorities, which can increase customer satisfaction, loyalty and retention.

Why You Need Project and Resource Visibility

To manage your resources and achieve cost savings, you need to have a clear vision of your project scope, objectives and deliverables. You also need to have a reliable resource management software that can help you plan, schedule, track and report on your resources on a project basis. A good resource management software can help you:

  • Create realistic project plans and budgets based on your available resources and their costs.
  • Assign tasks and roles to your resources based on their skills, availability and preferences.
  • Monitor the progress and performance of your resources and adjust your plans as needed.
  • Analyze the impact of resource changes on your project outcomes and costs.
  • Generate reports and dashboards that show you how your resources are contributing to your project success and cost savings.

By using a resource management software, you can save time, money and effort. You can also improve the quality and consistency of your project delivery. And most importantly, you can achieve cost savings that can boost your bottom line and competitive advantage.

Combining Project and Resource Management Tools

Ideally all of your project and resource data lives in the same tool. With a single source of truth, you remove the need to update multiple systems, but more importantly you achieve full visibility.

baton resource planning

Maintaining separate tools for project and resource management is a cost center on its own. Baton combines purpose-built project management software with a powerful resource planning tool. High performing teams leverage these together to accelerate time-to-launch during implementation while increasing project capacity per head.

Across your portfolio, it can be difficult to know which projects and team members are over or under-allocated. Resource Planning in Baton shows user commitment and availability by week so you can better understand which work has been committed to for more accurate planning.

By combining this resource data with project data, you can know exactly which tasks and projects are occupying your teams bandwidth.