Resources

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 and capacity planning? 

Our resource management glossary explains these commonly used terms and more.

FTE

Full time equivalent.

Named resource

A physical identifiable resource.

Placeholder

When the type of resource needed is known but the exact resource is not a placeholder can be assigned in a resource plan.

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.

Resource assignment

The assignment of a resource to a detailed task or piece of work.

Resource capacity

See resource supply.

Resource capacity planning

Strategic process of determining which projects and organization can do and the resources it needs.

Resource demand

The total amount of work an organization wants to do.

Resource forecast

Longer range estimate of the resource needs for a project.

Resource planning

Tactical process of allocating resources to projects.

Project scheduling

Detailed process of deciding what resources are working on what tasks or work and when.

Resource supply

The total amount of labor that resources provide. Normally given in days or FTE.

Resource utilization

A metric used to determine what % of a resource time is allocated to work.

Role

Normally the main skill a resource provides to your organization. Such as project manager, engineer.

Role allocation

Similar to a placeholder. Rather than assign a resource a role (or skill) is assigned.

Skill

See role.