These solutions seamlessly bring together essential information on incoming demand, ongoing projects, and availability across the workforce, enabling resource managers to work more proactively and confidently make decisions which have a direct impact on revenue and margin. The future of resource management is one in which resource managers are assisted by purpose-built resource management SaaS solutions specifically designed for the unique needs of professional services organizations. A recent study on resource forecasting from the Resource Management Institute shows that many services organizations are still living in the past, with 77% of respondents relying on spreadsheets to put together forecasts, and 50% saying they aren’t able to forecast resource needs accurately beyond the next two months – not enough time to fill emerging gaps through hiring, onboarding, or cross-training resources. This meant resource allocation tended to be done reactively, close to the start date of projects, and only within specific teams or areas. In the past, cumbersome manual processes and silos between teams that had valuable resourcing inputs made it difficult to get an accurate idea of incoming demand and each resource’s utilization rate. Technology is changing the ways resource managers think about resource allocation and resource utilization. Last minute hiring of contractors, which reduces profit margins.Resources with sub-optimal skills are matched to projects.On the flip side, if resource management goes wrong, it leads to a variety of issues: Ultimately, when you get resource management right, people’s time is used effectively on the appropriate projects, improving profitability, customer engagement, and employee experience. To see one example of how, try this Resource Utilization and Revenue Calculator, which shows the potential impact a seemingly small improvement in your average billable utilization rate could have on professional services profitability – even a 1% improvement could mean millions of dollars in added revenue for your business. Managing resources is complex and often riddled with challenges, but when done effectively, it results in countless benefits that drive value across an organization. In the context of services, resource management is about conducting staffing, capacity planning and resource allocation activities across a diverse workforce of internal and external contributors – put simply, ensuring people are in the right place at the right time. However, this term has a specific meaning when running a professional services organization, and it requires its own tools and strategies. It's really unfortunate that it went wrong that way.Often, when people talk about resource management, they are describing functions that fall within the domain of Enterprise Resource Planning (ERP) like human resources management or the procurement of physical resources like workstations. Vice chairman of the Danish Explosives Association, Johan Finsteen Gjodvad, said: “When you look at what has been done in preparation, it should fall the other way. I will put my head on the blockâ€, said blasting manager Kenneth Wegge to the Danish news network TV East. “I simply do not know how it may have gone so bad. The blast had been prepared for 6 months and an investigation is now underway to explain the failure. Luckily, no injuries were reported.Īt Vordingborg harbor, where the tower had been standing for 36 years, the area will be used for the construction of new homes, businesses and a hotel. The nearby building houses the administrative offices of the Vordingbord Libraries, an archive and a music school. The 50m-tall (170-foot) tower, instead of falling into the safely cleared zoned, fell in the opposite direction, destroying a small section of the local cultural center. On Friday April 6th, the scheduled detonation of a silo in the town of Vordingborg in eastern Denmark took place, only it went empathically wrong. The 170-foot tower collapsed in the wrong direction, damaging the nearby cultural center
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