How do you develop and maintain a resource allocation plan or matrix?

1 Identify your resources

The first step is to identify the resources you need for your project. These may include people, equipment, software, facilities, materials, and so on. You can use various sources to gather this information, such as the project scope, the work breakdown structure, the project schedule, the risk register, and the stakeholder analysis. You should also consider the availability, skills, preferences, and costs of your resources, as well as any constraints or dependencies that may affect them.

3 Allocate your resources

The third step is to allocate your resources to your project activities. You can use a resource allocation matrix or chart to display this information in a visual and concise way. A common format is a table that shows the resource names or categories on one axis and the project tasks or time periods on the other axis. The cells indicate the amount or percentage of each resource assigned to each task or time period. You can also use colors, symbols, or codes to indicate the status or level of each resource allocation.

4 Monitor and control your resource allocation

The fourth step is to monitor and control your resource allocation throughout the project. You should compare your actual resource usage with your planned resource allocation and identify any deviations or issues. You should also update your resource allocation matrix or chart regularly to reflect any changes or adjustments that may occur due to scope creep, schedule delays, budget cuts, resource turnover, or other factors. You should communicate your resource allocation plan or matrix to your team members, stakeholders, and sponsors, and seek their feedback and approval.

5 Optimize your resource allocation

The fifth step is to optimize your resource allocation to improve your project performance and outcomes. You can use various techniques to do this, such as resource leveling, resource smoothing, resource aggregation, or resource reallocation. These techniques aim to balance the demand and supply of your resources, minimize the resource conflicts or gaps, maximize the resource utilization or efficiency, and align your resource allocation with your project priorities and constraints.

6 Review and evaluate your resource allocation

The final step is to review and evaluate your resource allocation at the end of your project. You should measure and analyze the results and impacts of your resource allocation on your project objectives, deliverables, quality, cost, time, and scope. You should also collect and document the lessons learned and best practices from your resource allocation process and share them with your team members, stakeholders, and sponsors. You should also celebrate and acknowledge the contributions and achievements of your resources for your project success.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?