Best Resource Allocation & Planning Tools
Start your search for the best project management software with resource allocation and planning features here. Compare product features, facts and figures from our experts to find out which tool is the best resource allocation and planning software for your business.
What is Resource Allocation & Planning?
Resource allocation and planning are essential for the success of a project. With the correct usage of resources, projects are completed on time and within budget. With these tools, businesses can also predict their resource availability for future projects. Most project management tools have resource management features to help project managers keep a close eye on how resources are being used.
Project budgeting is a tool that allows project managers to predict costs, allocate funds, and measure expenses against profits. Having a project budget helps project managers make better financial decisions about a project and keep unnecessary costs down.
With a time-tracking feature, users can track and review how time is spent on tasks. Some project management tools have an automated time-tracking feature that will log time without additional input. Project managers sometimes also have the option of generating timesheets that can be sent to clients for invoicing and billing purposes.
Capacity planning is a helpful feature that balances remaining work against employees’ workloads and distributes them efficiently. It helps project managers optimize the deployment of tasks and ensures that team members have equal workloads.
Project scheduling defines a project’s workflows and keeps teams focused on the right tasks. There are several ways to view and schedule a project, but all provide the user a bird’s eye view of the project, its tasks and deadlines, and the team members assigned to the tasks.
The above methods of resource planning and resource allocation ensure that company resources are distributed evenly. Be it small or large businesses, all companies will stand to benefit when choosing a project management tool with resource management features.