Resource management glossary of terms
Ultimate Guide to Resource Management – Chapter 10
Confused about the different terms used in the resource management world. Don’t know the difference between resource allocation, capacity planning? Our resource management glossary explains these commonly used terms and more.
Full time equivalent.
A physical identifiable resource.
When the type of resource needed is known but the exact resource is not a placeholder can be assigned.
Portfolio resource management
Combining the disciplines of portfolio management and resource management to enable an organization to make informed decisions on projects using project prioritization and resource availability information.
The assignment of a resource to a detailed task or piece of work.
See resource supply.
Resource capacity planning
Strategic process of determining which projects and organization can do and the resources it needs.
The total amount of work an organization wants to do.
Longer range estimate of the resource needs for a project.
Tactical process of allocating resources to projects.
Detailed process of deciding what resources are working on what tasks or work and when.
The aggregate amount of labor that resources provide.
A metric used to determine what % of a resource time is allocated to work.
Normally the main skill a resource provides to your organization. Such as project manager, engineer.
Similar to a placeholder. Rather than assign a resource a role (or skill) is assigned.