Physical resources required may include: Goods and services to be purchased and ordered. Consumables. Stock requirements and requisitions….These policies and procedures will be related to:

1. Staff selection & recruitment.
2. Staff induction and training.
3. Requisitioning and purchasing of materials, equipment and supplies.

Resource Acquisition focuses on defining the needs for the project, and obtaining the right resources for the team and other resources and tools available to manage the effort. All of the major resources needed, tech lead, analyst, etc., were already assigned.

physical resources. Tangible goods and real estate, including materials, office space, production facilities, office equipment, and vehicles.

Research highlights. ► We identified five resource acquisition strategies (RAS). ► These are: Money, New Market, Utilization, Intellectual, and Credibility Bonds. ► Most of these RAS types are significantly different from each other.

The 4 Steps of Resource Planning

• Determine required resources.
• Acquire resources.
• Manage resources.
• Control resource usage.

The resource management plan is “the component of the project management plan that provides guidance on how project resources should be categorized, allocated, managed, and released. It may be divided between the team management plan and physical resource management plan” (PMBOK® Guide—6th Edition, Page 318).

The basic methods of acquisition are: purchase, gift (including bequest), exchange and field collection. The first three of these are legal transactions.

Managing physical resources involves planning usage and obtaining resources, through to monitoring their value for money. Learners need to investigate the process of ordering, storing and distributing supplies to users.

To monitor and control Physical Resources involves:

1. ensuring the Physical Resources assigned and allocated to your project (as described in your Resource Management Plan) are available as planned.
2. monitoring the planned Vs actual utilization of these resources and taking corrective action as necessary.

A Resource Plan identifies the physical resources required to complete a project. It lists each of the resource types (such as labor, equipment and materials) and how many of each you need.

7 Steps to Create & Present a Resource Management Plan

1. Determine the Resources Needed for the Project.
2. Match the Right Resources to the Right Tasks.
3. Budget the Right Amount of Time for Each Resource.
4. Schedule Resources Based on Projected Availability.
5. Keep a Pulse on Project Progress.
6. Expect to Make Adjustments.

Resource Planning Definition Resource Planning is a process of identifying, forecasting, and allocating various types of business resources to the projects at the right time and cost. It also ensures the efficient and effective utilization of resources across the enterprise.

In order to acquire physical resources, there are some methods to acquire physical resources such as purchasing, leasing and renting. Decision have to be made in choosing which method before acquire the resources. For purchasing, it is usually a significant upfront investment which require one time payment for the physical resource.

If so, you need to manage your project taking these philosophies into account. Management of Physical Resources consists of four processes: Plan Resource Management, Estimate Activity Resources, Acquire Resources, and Control Resources. These are described below:

While there is no set rule for defining resource acquisition strategies, most organisations will have policies and procedures that govern the way resources are obtained. These policies and procedures will be related to:

Resource Acquisition focuses on defining the needs for the project, and obtaining the right resources for the team and other resources and tools available to manage the effort. Over several years, I’ve had a mixed bag when dealing with and managing resources.