What is multi-project and resource management?

In today's business world, it is essential for companies to manage multiple projects simultaneously. This requires special skills and tools, which are encompassed under the terms multi-project and resource management. But what exactly do these terms mean, and what benefits do they offer?

What is Multi-Project Management?

Multi-project management refers to the simultaneous planning, controlling, and monitoring of multiple projects within an organization. Rather than viewing each project in isolation, multi-project management enables a holistic view that includes the coordination and prioritization of all ongoing projects.

Key features of multi-project management

• Central coordination: Projects are not viewed in isolation but in the context of all other projects.
• Prioritization: Resources and attention are allocated based on the urgency and importance of the projects.
• Transparency: All project participants have access to relevant information and progress of the various projects.

What is Resource Management?

Resource management deals with the efficient allocation of resources—such as personnel, budget, and time - across various projects. The goal is to optimally use available resources and avoid bottlenecks.

Key features of resource management

• Resource planning: The availability and utilization of resources are monitored and planned.
• Resource allocation: Resources are allocated to projects according to their priority and requirements. 
• Resource control: The use of resources is continuously monitored to ensure they are efficiently utilized.

Learn more: read our blog article on multiproject management software here.

Benefits of multi-project and resource management

1. Increased efficiency: Central coordination and prioritization allow projects to be completed faster and more effectively.
2. Cost control: Better planning and utilization of resources help save costs and maintain budgets.
3. Risk minimization: Risks can be identified early and managed, reducing the likelihood of project failures. 
4. Transparency and communication: A central overview facilitates communication and reporting, keeping all stakeholders up-to-date.

Conclusion

Multi-project and resource management are essential practices for modern companies. They help manage the complexity of multiple projects, efficiently use resources, and ensure project success. With the right tools and methods, companies can optimally steer their project landscape and effectively achieve their goals.