New research survey provides the industry’s most in-depth look yet at resource utilization in Professional and Consulting Services, Enterprise/IT, and Product Development
Cincinnati, December 13, 2018: The Resource Management Institute, dedicated to the advancement of resource and workforce management thought leadership, has released its latest research survey with results showing effective resource utilization has hit the radar as a top priority for project-based businesses. Research findings provide the very latest in benchmark data for project-based IT services teams and leading practices for improving utilization of human capital.
One important finding of the study was a clear connection of better resource utilization where the organization adopted the RMI’s recommended standard for the utilization metric based on a 2080 hour work year. According to the RMI, the existence of too many one-off approaches to measuring and governance of utilization often masks internal issues inhibiting better utilization performance.
“The RMI is working hard to drive industry standardization of important Resource Management practices,” said RMI Managing Director Randy Mysliviec. “Clear best practices are emerging for how we measure and govern Resource Management leading to better project and financial outcomes for IT services entities. The RMI’s comprehensive benchmarks for RM will provide a better basis for industry transformation going forward.”
The research survey revealed that improving clarity of utilization expectations and accountability are clearly making a difference for many companies already linking goals and compensation to resource utilization outcomes, particularly in Enterprise/IT organizations. Research results also revealed that gaps in automation tools supporting tracking, analysis and reporting of utilization information remain an area for industry improvement with two thirds of companies reporting they still depend on a spreadsheet tool to fill the gap left by their automation tool (PSA or PPM) of choice.
This in-depth look into resource utilization compiled data from Professional/Consulting services, Enterprise/IT services, and Product Development organizations in over 57 different companies, their IT services executives, resource managers and resource management office leadership. A full copy of the published research report is available at https://resourcemanagementinstitute.com/rmi-survey/.
The Resource Management Institute conducts a series of research surveys to help professionals compare and contrast their resource management operations to their peer groups. This unique and resource management specific research information targets the IT services industry overall including enterprise IT departments, professional and consulting services, and field and support services organizations.
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.