FPP

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Resource Acquisition Plan

#5

Resource Acquisition Plan

Introduction

Project implementation relies on the resources allocated. In resource acquisition, selection and allocation, there has to be a system followed. The system comprises of policies and procedures which govern resource utilization in the project. In this paper, a detailed analysis is provided explaining how the resources are acquired, selected and documented.

Policies and procedures

There are policies and procedures that have to be considered within the project environment in determining how the resources will be acquired. The project management plan is one of the policies considered in the project environment and which governs resource acquisition.  It is defined in the project management plan as a formally approved document that directs both the execution and the control of the undertaking. As a result of this strategy, the team's assumptions and decisions are documented, and communication with key stakeholders is facilitated. Even though most of mine are straightforward, when called for, they are capable of being quite detailed as well. The second factor in determining resource allocation in a project is the projected completion date. There is a need for a project timeline in order to start the conversation about resources. Any discussion with a resource manager must begin with this. There should be no hard dates on the timeline but weeks or months to show the project's potential duration. The timeline for a project is more than just a list of tasks; it also entails allocating resources to each one (Gomes et al, 2019).

Resource selection criteria

In resource selection, economic model will be used. The performance metric known as Economic Value Added (EVA) measures how much a company contributes to its own value creation while also determining its rate of return on investment. Resources whose economic value added to the project is the highest are prioritized when multiple resources are assigned to a project manager. It is always expressed numerically, not in percentage terms, and the EVA is never expressed in percentage terms.

Resources

Based on the project, there are specific resources that may be required. The resources are classified based on the purpose they play in the project. In office relocation project, there is need for transport services to ensure the office equipment is transported safely without loss of some devices or office resources. Also, there is need for stationary to record all resources transported to the new location. Human resource will also be used in the project other than the members of the project team. This involves people who will carry the office equipment to the new location or load the vehicles.

Skills

In an office relocation project, certain skills are very instrumental. One of the skills needed is communication which include both listening skills and the ability to deliver message to others. This is because the project will require the members of the project to interact with each other and communicate in ensuring the project is implemented effectively. Another skill necessary is time management in making sure the project is completed in the time planned. This is a skill that every member of the project team has to be equipped with in ensuring the project attains success. Critical thinking skills are also necessary in the project in ensuring the likely problems are managed accordingly (Chen & Xie, 2017).

Resource stakeholders

Based on the diverse nature of the resources needed for the office relocation project, different stakeholders have to be negotiated with. One of the stakeholders that has to be consulted in person is the procurement manager whose role in the project is procuring a Moving Company to manage the transportation from the current office location to the new location. Another stakeholder to be consulted in person is the finance manager whose role is providing necessary funds. The third stakeholder is the human resource manager whose role is supplying the project with necessary human resource or employees.

Documenting requirements

In documenting the resources, a detailed project case will be prepared. The project case will also be accompanied by a well-designed PowerPoint presentation summarizing each requirement and the purpose towards attainment of project goals.

Conclusion

Following the plan would contribute significantly to effective resource utilization. However, the success in the implementation of resource acquisition plan is based on the ability of the stakeholders to collaborate towards attainment of common goals.

References

Chen, B., & Xie, Y. B. (2017). A knowledge resource acquisition system for the product life cycle. Journal of Engineering Research, 5(4).

Gomes, E., Desouhant, E., & Amat, I. (2019). Evidence for risk-taking behavioral types and potential effects on resource acquisition in a parasitoid wasp. Animal Behaviour, 154, 17-28.