Resource Planning

Resource planning in project cost management involves identifying and organizing the necessary resources—like people, materials, and equipment—needed for a project. It helps ensure that the right resources are available at the right time and cost, allowing the project to proceed smoothly. By effectively planning resources, project managers can prevent delays, minimize expenses, and allocate budgets wisely. This planning is crucial for staying within the projected financial limits while achieving project goals, ultimately contributing to the project's overall success.