Free «Resource Allocation in Project Management» Essay Sample

Resource Allocation in Project Management

Assess the importance of “slack” to the project manager.

Project management is a practice of organizing project components in order to reach the project objectives. Considerably, a project is a created or invented idea that seeks to build or create a specific idea or thing. Slack is a concept that is applied in project management to illustrate and identify particular parts or activities of a project which can be delayed. In project management, slack is divided into two; total and free slack. Total slack helps a project manager to identify the amount of time a project can be delayed in order to plan well without delaying a project. Free slack is an early slack which helps a project manager to identify the amount of time that a project will be finished earlier. In a summary, slack equips the project manager with time and critical knowledge and skills of a project. This will help in proper use of project resources, (Schwindt, pg.75).

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In terms of developing the project plan, identify which, if any, of the project steps are more integral to the project plan than any other.

Yes. There are two stages which are very essential in the success of a project. The first stage is the planning stage. Planning is the foundation of a project; hence there is need for accuracy and high considerations in planning. It involves resource allocation, project identification and project measurement/analysis. The second stage is the implementation stage. Implementing a project is the most integral part of a project, there is no chance for mistakes or mishaps because a mistake will fail the whole project. But then, all project stages are important hence much effort should also be put on other stages also, (Meredith, pg.123).

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From the e-Activity, identify the resource that caught your interest and estimate its usefulness to the project management profession.

Human resources. The ability to plan and execute a project is solely on human capacity. Hence human resources are very critical in ensuring the success of a project.

In terms of developing a project plan, specifically recommend how this resource could expedite that process.

Human skill and knowledge are the pivotal matters that support the progress of a particular project. With capital resources they ensure that project goes through each stage in an accurate and correct manner.

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