A Comprehensive Guide to Project Management Schedule and Cost Control: Methods and Models for Managing the Project Lifecycle

6. Resource Estimating

Introduction

Resources make up the backbone of a project. From human resources to facilities, cash flow and lines of credit to equipment, patents to proprietary and intellectual knowledge—all have to be selected carefully to ensure their value not only to the organization but also to each project. Resources are what the organization uses to structure a project to complete its objective. Managers are responsible for overseeing processes being performed within the operation, so how effectively they select and manage resources plays a critical role in project success.

Resources can vary greatly depending on the size of the organization, how it’s structured, and the approach that executive management staff want to take in ...