Definition of Resources

Resources are the people, materials, and equipment that are used to complete a project. They can be internal or external to the organization and may include personnel, consultants, contractors, vendors, and suppliers. Resources are typically allocated to tasks in order to complete them on time and within budget.

Types of Resources

The types of resources available for a project will depend on the scope and complexity of the project. Common types of resources include human resources (such as project managers, team members, and subject matter experts), physical resources (such as equipment and materials), financial resources (such as budgeted funds), and informational resources (such as documents and databases).

Resource Management

Resource management is an important part of project management. It involves planning for the acquisition of resources, scheduling their use, monitoring their utilization, and controlling their costs. Resource management also includes managing conflicts between competing demands for limited resources. Effective resource management helps ensure that projects are completed on time and within budget.