Resource Utilization is Gaining Industry Focus with Project-based Businesses and is Showing Important Progress with Better Metrics, Governance and Management
Cincinnati, December 12, 2019: The Resource Management Institute, dedicated to the advancement of resource and workforce management thought leadership, has published its second research report focused on resource utilization for project-based IT services teams. Input for this latest report was provided from 56 different companies, by services executives from Professional Services, Enterprise IT, and Product Development, resource and project managers and resource management office leadership.
Resource utilization continues to gain industry focus with project-based businesses, with important progress on the fundamentals of better metrics, governance and management. However, findings from the study show many challenges remain in both process and technology used to manage this important element of a service business.
As discovered in the RMI’s first research report on Resource Utilization, standardization of the utilization metric using the 2080-hour denominator continues, but there remain too many one-off approaches to measuring and governance which often limits peer comparison and masks internal issues inhibiting better utilization performance.
“While project performance leading to improved profitability and customer satisfaction is an overarching goal, the industry is leaving billions on the table in the form of underutilized talent,” said RMI Managing Director Randy Mysliviec. “Better discipline in the form of process, automation technology and governance are helping the industry make positive progress towards improved outcomes enabled by optimizing resource management.”
The research survey also revealed that the industry continues to make steady progress with improved governance processes for resource management, management accountability, better visibility and cadence of reporting, assignment of utilization targets and incentives for improved utilization performance.
The Resource Management Institute conducts a series of research surveys, targeting the IT services industry, to help professionals compare and contrast their resource management operations to their peer groups. A full copy of the published research report on Resource Utilization is available at https://resourcemanagementinstitute.com/rmi-survey/.
About Resource Management Institute (RMI)
The Resource Management Institute is dedicated to the advancement of resource and workforce management thought leadership, best practices and standards, globally recognized credentials that certify resource management expertise, and tools and resources necessary for effective and efficient management of human capital intensive businesses. The Resource Management Institute was created to provide the resource and workforce management community a vehicle to advance the discipline of resource and workforce management, and further the interests of the people who make up this community and the companies they work for. Visit us at www.resourcemanagementinstitute.com, on Twitter and on LinkedIn.