Utilising human, capital and physical resources to its optimum.
Resource management is the process of planning for maximizing efficiency of the resources that needs to be used for the project or even a task. It involves scheduling the time allocated for the use of the resources as well as it’s acquisition, whether internal or external. Scheduling the resources can also help figure out how much they are consumed, which can make future scheduling easier and predictable. Especially used in project management, resource management is an approach used to ensure that a company’s resources are being utilised the best it can be.