Resource Projection Best Practice 5 – The 40 Hour Work Week

For the purposes of personnel resource estimation, what is an individual worth? The answer may seem obvious. A full-time equivalent (FTE) or full-time employee is typically considered to be ‘worth’ 2000 hours of labor per year; calculated as the product of fifty, 40 hour work weeks.


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Resource Projection Best Practice 4 – 80 Percent Efficiency Estimate

StrategyDriven Resource Projection ArticleHuman beings are social creatures having both emotional and physical needs. Businesses able to satisfy these needs will be better positioned to attract and retain talented personnel; giving these businesses a much needed advantage in the increasingly knowledge driven marketplace where human resources are increasingly limited. Such organizations will further benefit from increased worker engagement because employees feel more connected and valued.


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Resource Projection Best Practice 3 – Controlling Assumption Changes

StrategyDriven Resource Projection ArticleStandardized activity resource assumptions enable decision-makers to anticipate the quantity and type of resources needed to perform approved work; facilitating selection between competing alternatives, long-term resource planning, day-to-day scheduling, and performance measurement. Over time however, personnel, process, and business environment changes will necessitate reevaluation and alteration of the organization’s standardized activity assumptions. To accommodate these changes and maintain the benefits of using standardized assumptions requires establishment and use of a change control process.


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About the Author

Nathan Ives, StrategyDriven Principal is a StrategyDriven Principal and Host of the StrategyDriven Podcast. For over twenty years, he has served as trusted advisor to executives and managers at dozens of Fortune 500 and smaller companies in the areas of management effectiveness, organizational development, and process improvement. To read Nathan’s complete biography, click here.

Resource Projection Best Practice 2 – Begin with the Work

The business planning process of balancing what the organization will do with its limited resources is an iterative one. However, resource owners too often focus on the amount of resources they have and alter work estimates so the activity portfolio they are responsible for fits within the resource pool under their immediate control. This practice frequently leads to under-estimating resource needs as managers continually strive to expand their activity portfolios; resulting in reduced quality, late deliveries, and a diminished bottom line.


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Resource Projection Best Practice 1 – Standardized Assumptions

StrategyDriven Resource Projection Article | Resource Projection Best Practice 1 - Standardized AssumptionsUnderstanding the resource cost of activities is key to creating confidence that assigned work can be completed successfully and on time. Regardless of whether activities are frequently recurring and therefore well understood or one time efforts to produce a unique product or service, the use of standardized resource assumptions greatly helps the organization anticipate the quantity and type of resources needed to perform its approved work.


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Additional Resources

StrategyDriven Contributors recommend the following resource that elaborates and compliments the Standardized Assumptions best practice:

A Guide to the Project Management Body of Knowledge, Third Edition
by the Project Management Institute


About the Author

Nathan Ives, StrategyDriven Principal is a StrategyDriven Principal and Host of the StrategyDriven Podcast. For over twenty years, he has served as trusted advisor to executives and managers at dozens of Fortune 500 and smaller companies in the areas of management effectiveness, organizational development, and process improvement. To read Nathan’s complete biography, click here.