Week 4 - Assignment: Defend Resource Management Strategies

User Generated

Gbfna777

Business Finance

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Instructions

You will have to calculate, quantify, and address the three (3) myths and their resulting effect on the project. Be succinct and clear in your explanation, when possible provide insight on ways you might mitigate the three myths. Defend how you plan to measure and control the project resources expended. Once you have completed building the comparison of the myths and your mitigation will be for you to analyze your chosen project and identify five (5) specific resource management related issues and your mitigation technique. You may find it best to build the comparison and the project examples on a series of spreadsheet tables. Once you have completed the myths and the specific project examples, you will need to provide your mitigation strategy and the effect the mitigation will have on resources.

Support your paper with a minimum of five (5) external resources In addition to these specified resources, other appropriate scholarly resources, including older articles, may be included.

Length: 5-7 pages not including title and reference pages and comparison tables

Your paper should demonstrate thoughtful consideration of the ideas and concepts presented in the course and provide new thoughts and insights relating directly to this topic. Your response should reflect scholarly writing and current APA standards. Be sure to adhere to Northcentral University's Academic Integrity Policy.

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Report: Resource Management

Resource Management
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Report was generated on Friday, Aug 17, 2018, 4:56 PM

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Report: Resource Management

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Running Head: RESOURCE MANAGEMENT STRATEGIES

Resource Management Strategies
Name
University affiliation
Date

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RESOURCE MANAGEMENT STRATEGIES

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Introduction
Project management involves all measures and efforts taken in projects life for the
success of project development (Heagney, 2016). It requires project planning whereby
objectives and goals are defined by the owner of the project after which they expect results
known as deliverables. A project consumes resources; however, they are limited by nature.
Thus, resource management is a vital part of any project management process. Resource
management involves managing all resources such as the budget, time, assets and human
resources. The resource management is necessary to ensure that the funds help the project
team in creating deliverables successfully. It also helps in determination of utilization of
resources and their allocation. However, various myths in project management can adversely
affect resource management. This paper will address the myths in project management, how
they affect resource management, risks possible created by the legends and the mitigation of
the risks.
The project idea under study involves the creation of an e-commerce system. The ecommerce system will provide an online store that will help the ABC Company to make their
sales online. However, the success of the project depends on the project management of
resources available currently. The resources required in this case include but not limited to;
time, budget, hardware, software and human resources (Tonchia, 2018).
Myth 1: Anybody can be selected as the project manager
Most organizations tend ...


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