Ch 7 Textbook Notes

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Simon Fraser University
Business Administration
BUS 361

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 management 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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