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26 Best Resource Allocation & Planning Tools and Software of 2020

Start your search here for project management software with the best resource allocation and planning tools. Our software reviews are written by experts who have spent 357 hours researching and analyzing every little detail about the top resource allocation and planning tools on the market. Compare resource allocation and planning features, facts and figures to find the right fit 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 

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. 

Time Tracking

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

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

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.