The Holy Grail Of Resource Management : Demand Forecasting

February 25, 2017 By

Here’s an exclusive excerpt from the newly released eBook by Saviom – ‘The Holy Grail of Resource Management: Demand Forecasting and Capacity Planning’.

You can download it here for free.

Research sponsored by the Project Management Institute (PMI) shows that talent deficiencies significantly hamper 40% of strategy implementation efforts.

So, hiring, developing, and retaining the people needed to turn corporate strategy into reality is of critical importance.

The key to successful resource management lies in accurate demand forecasting. Get it wrong, and you’ll have unhappy, unproductive or over-utilized employees. This poses a real risk to your organization’s overall profitability. But get it right, and you’ll enjoy resource stability and sustainable profitability.

Demand Forecasting and Capacity Planning are inter-linked and depend on each other to give you the right insight. Understanding the relationship that they share with each other, is critical to getting the balance right.

Business demand and supply ratios are volatile. Let’s say you work for an engineering firm and have a huge project in the pipeline. You have worked out that the project will require 250 engineers with varying degrees of experience. You expect the project to take 9 months to complete. This is demand forecasting.

Now that you know what is required, you can assess whether your current team can handle the project. You may find that you need to hire new employees, retrain existing ones or bring in contractors. This is capacity planning.

So basically, Demand Forecasting is the process of understanding the nature of upcoming projects while Capacity Planning is the process of determining and preparing a team to meet these demands.

This eBook aims at creating awareness among organizations on how Capacity Planning and Demand Forecasting can together build a foundation for your Resource Management strategy. Besides, Resource Management is a methodology that generates and works with scientific precision, thereby mitigating the risks that speculation generates.

Master Demand Forecasting and Capacity Planning among other aspects of Resource Management by simply downloading our free eBook right here!

Free eBook

The Definitive Guide for Resource Planning and Forecasting

Download the eBook Now
Nityashree Yadunath

See exactly how our Resource Scheduler software solution can optimize your organization’s human resource allocations by either:

Receiving a live product demo from one of our experienced product managers.

Free Demo

Downloading an obligation free trial of Saviom Resource Management.

Free Trial

Watching our obligation free product video.

Product Tour

Free eBook

The Definitive Guide for Resource Planning and Forecasting

Download

Ground Breaking Resource Planning and Scheduling Software

Learn more

Other Articles

Resource Profile: Unlock Unmatched Levels Of Visibility Resource Profile: Unlock Unmatched Levels Of Visibility August 9, 2017 What Superheroes Teach Project Managers August 2, 2017 Management of Risk in the AEC industry The Basics of Managing Risks In the AEC Industry July 26, 2017

Testimonials

“It is the best resource planning tool that I have ever used. Its light, it doesn’t have a lot of systems behind it so it is easy to operate. It doesn’t get bogged down meaning it funnels and generates any information straight away. For example I can visually see in different tabs projects or resources that are important to me straight away. Highly user friendly tool unlike other resource scheduling software and doesn’t have any cumbersome functionalities."

Book your free customized trial today

See how intuitive and effective our resource management solutions is by booking in a free, custom-configured trial.

Request Trial