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In the context of an entire economy, resources can be allocated by various means, such as markets, or planning. In project management, resource allocation or resource management is the scheduling of activities and the resources required by those activities while taking into consideration both the resource availability and the project time. [1]
Project portfolio management (PPM) is the centralized management of the processes, methods, and technologies used by project managers and project management offices (PMOs) to analyze and collectively manage current or proposed projects based on numerous key characteristics.
The goal is to achieve 100% utilization but that is very unlikely, when weighted by important metrics and subject to constraints, for example: meeting a minimum service level but otherwise minimizing cost. A Project Resource Allocation Matrix (PRAM) is maintained to visualize the resource allocations against various projects.
Economic analysts have argued that the economy of the Soviet Union actually represented an administrative or command economy as opposed to a planned economy because planning did not play an operational role in the allocation of resources among productive units in the economy since in actuality the main allocation mechanism was a system of ...
In a nutshell, a logic model is a valuable tool that produces a basic program "picture" that shows how the organisation's program is intended to do work. [37] If the project is determined to be unable to meet the criteria outlined in the opportunity management process, the project or opportunity managers will take measures to correct the ...
The concept of strategic alignment is significant in the context of a global business environment where activities need to be coordinated across regions and time zones. [3] Strategic alignment encompasses not only technical and functional activities, but also issues relating to human resource management (and how best to develop people's ...
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