HOW TO MANAGE YOUR RESOURCES PART 1

Hello to all member , I will be discussing the first part of how you can manage your resources in my writeup .

Through the efficient use of resources, companies can reach new heights of success. On the other hand, low usage will lead to greater losses. Unless you know how to get the most out of your investment, you won't get any value out of it.

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Plan planning When it comes to efficiency, planning is important. Time is money, and it is best to plan for effective resource management from the beginning of the project. When you start a project, the plan should be on your work list first. Through planning, you can make a comprehensive assessment of the type and amount of resources required. Many projects fail because companies end up investing in too many or too few resources. Once you realize what is needed, you can plan usage by dividing the project into multiple phases. Determine the resources needed to complete the project. Whether you are in the first or final stage of completion, you will need the resources listed. Analyze and estimate the time required for each resource and its role in completing a specific task. Review the outline of the entire project and make sure that no features are missing. Before the project officially starts, please complete the feature list and its details. The imperative is to make the list available to everyone so that everyone can clearly know the details and minimize the risk of confusion.

Take a systematic approach

One of the most effective ways to use resources and reduce their use is to use a structured approach. This can be done in the following ways:

Defining metrics using past performance as the basis for improvement can pave the way for productivity.

Evaluate your performance - compare your performance with similar companies (preferably competitors).

Developing a Business Strategy - After confirming the expected improvements, it is time to develop an action plan on how to achieve those improvements.

Set goals and responsibilities - When setting goals, make sure that employees can achieve them on time.

Monitoring and reporting - establish reporting procedures and regularly evaluate performance to ensure you’re on the right track.

Review actions and performance - this step will ensure that you retain them

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