RESOURCE MANAGEMENT

A SESSION PRESENTED BYNOBERT MBANEFO(KONSULTME)LCP AIESEC ABUJA-NIGERIA

SESSION OBJECTIVES• Get to know the basic Definition of Resource

Management.• Deeper understanding of the concept with respect to

sustainability.• Get Familiar with Financial and human aspect of

resource management.• A simulation game to help us connect more to the

session.• Wrap up/Benefits

INTRODUCTION AND DEFINITION

When we hear Resource Management, what normally comes to our mind?Think deeply before you answer and come up with what you understand from the word!!! Prepare your mind for the smooth ride

INTRODUCTION AND DEFINITIONThe process of using a company's resources in the most efficient way possible. These resources can include tangible resources such as goods and equipment, financial resources, and labor resources such as employees. Resource management can include ideas such as making sure one has enough physical resources for one's business, but not an overabundance so that products won't get used, or making sure that people are assigned to tasks that will keep them busy and not have too much downtime.

INSIGHTS AND KEY UNDERSTANDING IN RESPECT TO SUSTAINABILITY

In organizational studies, resource management is the efficient and effective deployment of an organization's resources when they are needed. Such resources may include financial resources, inventory, human skills, production resources, or information technology (IT). In the realm of project management, processes, techniques and philosophies as to the best approach for allocating resources have been developed. Resource management is a key element to activity resource estimating and project human resource management.

INSIGHTS AND KEY UNDERSTANDING IN RESPECT TO SUSTAINABILITY

Lets clearly look at our different entities and re-evaluate our operations and how we manage our Resources to really sustain us and justify what we do.With special interest to the two that mostly relate to us on daily basis namely:

• FINANCIAL• LABOUR(Human)

FINANCIAL RESOURCE MANAGEMENT

How effective do Our resources sustain our operations???If your answer is yes, how come we complain of finance and keep marketing for money whenever we have a task to execute?Remember at the beginning of each year, top companies and organizations do budget and also allocate it accordingly while declaring profit at the end of the year.Now think deeply and bring out the similarities and differences between you as AIESEC and these Organizations.

FINANCIAL RESOURCE MANAGEMENTFinancial Resource Management is focused on improving the organization’s ability to apply financial resources to fund resilience activities while helping the organization to actively manage the cost and return on investment of these activities. The organization establishes a plan for defining financial resources and needs and assigning these resources to resilience activities. Budgets are established, funding gaps are identified, and costs are tracked and documented.

FINANCIAL RESOURCE MANAGEMENT

Through effective financial management, the organization establishes its ability to measure return on resilience investments through calculating “risk versus reward” and by identifying cost recovery opportunities. In short, financial resource management provides for the possibility that resilience activities can become investments that the organization uses to move its strategic objectives forward and that can be recouped through improved value to stakeholders and customers.

HUMAN RESOURCE MANAGEMENTAgain lets refresh our memories!!!

How many staffs do we think a branch of BICEC has in a particular period of time?From your answer, compare it with the no of members you have in your entity after recuitment. Its getting exciting right?Lets move on then, why do we complain of members? Why do we achieve less results and rarely meet our set goals?

Finally on the average, what are the ratio of TMPs and TLPs driving GCDPs and GIPs for the organization in your respective entities?

HUMAN RESOURCE MANAGEMENTThis is the science of allocating human resources among various projects or business units, maximizing the utilization of available personnel resources to achieve business goals; and performing the activities that are necessary in the maintenance of that workforce through identification of staffing requirements, planning and oversight of payroll and benefits, education and professional development, and administering their work-life needs. The efficient and effective deployment of an organization's personnel resources where and when they are needed, and in possession of the tools, training and skills required by the work.

THE RESTAURANT GAME

The RESTAURANT GAME is a single-period simulation that provides participants with the opportunity to plan and implement a strategy in a competitive environment. The game includes an auction in which players bid for raw materials. This auction can result in players’ making tactical changes to planned strategies in response to conditions created by the auction. After the players have obtained their necessary raw materials, they create meal menus that are the source of company profits. During the allocation process, integer programming is applied, and the instructor can demonstrate how mathematical modeling leads to optimal solutions. The RESTAURANT GAME provides a rich environment that can be explored in a single period or multiple periods according to the instructor’s goals.

WRAP UP/CONCLUSION

So lets Share our thoughts on the just concluded game that stirred our minds.

BENEFITS

• Achieve complete visibility into resource utilization, skills profiles, bookings and more • Reduce your dependence on resource management spreadsheets with real-time tracking of skills and availability and centralized, up-to-date, searchable resource profiles • Automate resource management requests and bookings with customizable workflows • Manage a single, dynamic, global pool of resources to optimize projects teams, regardless of physical location • Accurately forecast staffing needs and improve employee utilization rates.

My Pleasure!!! Nobert Daniels Mbanefo Nobert.mbanefo@aiesec.net +2348068246080 FB: Nobert Daniels Konsultm Twitter: @konsultme