Resource management for small business success

Resource management for small business success

While massive corporations and tiny start-ups may have many differences in budget, reputation and internal structure, they do have something in common. They both, regardless of size, must find ways to complete their projects consistently and efficiently. Most businesses function on the strength of their projects. In fact, almost everything that an organization does is based on carrying out tasks relating to various projects. For a business to succeed, its processes must be aligned with project goals. That’s why resource management for large organizations is just as crucial as resource management for small business.

Small business, big details

“Business”, conceptually, runs in the same way regardless of the size of the company. It could be argued, however, the difference between size comes down to consequences. For instance, a small company has a narrower margin for error when it comes to completing projects than their multinational counterparts. If you were to miss a project deadline as a small business it could potentially derail a client relationship, cost you revenue that you had budgeted for, halt your progress or even lead to the company shutting down (certainly a ‘worst-case’ scenario). If the same project deadline is missed by a more established, larger company their size could potentially absorb the loss in revenue, while their stature could prevent the client from leaving, etc. and still be around to do a better job next time.

If you are part of a small business you’ll understand that even the smallest changes can have a big effect on your organisation, from hiring practices to how you pass work around the office. Take for example, a company of eight employees who have developed specific processes for getting certain tasks done. Add in more resources and suddenly you have new voices, experiences and new styles of working. But a standardization of processes must be in place for this to be a positive change. If not, previously successful processes could be unintentionally upended, which might negatively affect productivity.

Resource management for small business

Nowhere is standardization and efficient processes more important than when working on projects for your clients. As a small business, each project means a lot—for your reputation, the morale of your team and, of course, the bottom line. In fact, making sure your projects are completed efficiently, on time and to budget can be the difference between growing the company and standing still.

Standardizing processes

Growth is an important idea here. As your business grows, the right management tool becomes extremely handy. Successfully managing clients and projects relies on having the right systems in place to keep track of your processes. Ad-hoc processes that may have worked when you first began your business will soon fall short when the work becomes more complex, the number of projects that must be juggled grows, and the deadlines become less flexible.

Understand your resource competence

Instead, you need a solution that can focus on your project resources, giving your project leaders better visibility over the allocation of their resources, and to understand what effect specific resource decisions will have on the outcome of your projects.

Improve collaboration

Deploying a sophisticated resource management tool helps members of your team stay on track. By having better visibility over your resources, your project teams can share better information with each other, which helps project tasks to be completed more efficiently and effectively. Cloud-based resource management software, such as Tempus Resource, can be accessed can also be accessed from both your desk and your mobile device, meaning that no matter where you are you can get access to the important stuff when you need to, enhancing collaboration even further.

Better habits for the future

A lot of smaller teams use Excel for their resource management. With a fewer number of resources and projects it’s a functional tool. However, this is setting bad habits for the future. By putting in place a sophisticated, yet easy-to-use, resource management solution you will give your team a better structure that will scale as you grow.

Budget better

Often for small businesses, money can be tight. That’s why it’s important you can budget correctly. But budgeting for projects is difficult if you don’t have the means to see what is around the corner. With the right resource management tools, you can better measure project progress and expected outcomes, which allows for better budgeting.

Resource management, no matter your size

Whether your organization has 10 employees or 10,000, resource portfolio management software, like Tempus Resource, can help you achieve your goals and grow your company.

Tempus Resource uses ‘What-If’ simulations to model project data and help you make risk-free, data-driven decisions over your projects. This is something that is of benefit to a start-up with a small project team as much as it is to a large project management office (PMO) with several project teams across multiple borders.

With Tempus Resource you can ensure your business has what it needs to manage its projects properly, making better, more informed decisions that will help drive business growth.

For more information on resource management for small business and the benefits of a tool like Tempus Resource, get in touch with ProSymmetry today.

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