Ch 7 Textbook Notes
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Chapter 7: Managing Project Resources
What are resources?
•Resources: a source of supplies or support, such as money, people,
materials, technology and space.
Types of resources
•Human resources: all project stakeholders, inlcd customers, project
team members, support staff, project suppliers, and end users.
•Capital resources: the tools and infrastructure used to produce other
goods and services
•Opportunity costs: the measure of alternative opportunities forgone
in the choice of one good or activity over others
•Equipment, space, money
Overview of Managing Project Resources
The importance of Managing resources
•Influence on project schedules, time, cost, quality and risk
Implications of failures
•Resources affect both time to complete a project and its cost. To correct
error, assign additional resources to task to get back on schedule
( crashing) high costs!
Managing resources and the project life cycles
•First decide on deliverables of project and activities needed. Then
estimate resources needed.
•Can use software to track resource allocation
Duration vs effect
•Effort: actual time spent working on activity
•Duration: elapsed time between start and finish of an activity
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Techniques for managing resource project duration
Activity resource estimating
•Resources can be deployed in the most effective manner
Resource estimation techniques
•Expert judgment: estimation based on the experiences of one or more
experts on the particular activity or project
•Published estimating data: hard data from specific activities carried
out on previous projects that may be used to more accurately estimate
•Alternative analysis: an estimating technique in which tradeoff
between the time needed, the resources invested and the desired
quality of the final deliverable are examined.
•Bottom –up estimating: as estimating technique in which complex
activities are further decomposed to a point where more accurate
estimates can be made
Resources estimation outputs
•Activity resource requirements: a very detailed listing of the
resource requirements for the individual activities
•Resource breakdown structure: a hierarchal, graphical
representation of all needed resources ordered by type or category
•Resource calendar: a specific type of project calendar that is used to
track the hours when certain resources are available
Activity duration estimating
•Activity duration estimation: the process of estimating the duration
of the project activities using both project scope and resource
Duration estimating techniques
•Analogous estimating: the estimation of activities durations based
upon the duration of similar activities
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