Study Guides (380,000)
CA (150,000)
SFU (4,000)
BUS (700)
BUS 361 (20)

Ch 7 Textbook Notes

Business Administration
Course Code
BUS 361

This preview shows pages 1-2. to view the full 6 pages of the document.
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

Only pages 1-2 are available for preview. Some parts have been intentionally blurred.

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
resource needs
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
Expert Judgment
Analogous estimating: the estimation of activities durations based
upon the duration of similar activities
You're Reading a Preview

Unlock to view full version