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With the globalization of the modern enterprise, the use of Resources has gone from the simple use of employees, local freelance consultants, and local resource provider organizations to the use of geographically disperse development and support resources that not only bring with them their diverse skill sets but also impose new cultural challenges on our organizations. It's no longer enough to simply manage your onsite employees and consultants. Now, we're required to also manage long distance outsourcing relationships. Instead of managing rather constant and local resource mixes, we're now dealing with a constantly fluctuating and revolving door of resources that add distraction and extra work to how we manage our projects. Understanding what mix of resources are currently on staff, what resources are coming and going, and what their associated work and costs are is a challenge that the modern enterprise has to treat as the simple cost of doing business in a global economy. As a result, strategic Resource Portfolio Management (RPM) has become a critical function in all global enterprises. Now, RPM is used to manage the mix of Resources, their skills, their locations, their costs, and their work. Enterprises leverage the results of RPM to manage their Resource mix like they would their investment portfolios, understanding risks and returns.

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Beyond the inherent need in virtually every large enterprise to streamline and reduce costs and raise productivity, the major drivers accelerating Resource Portfolio Management adoption include:

  • The need for Resource knowledge to respond to regulatory mandates for data privacy, such as the Sarbanes-Oxley Act and the Health Insurance Portability and Accountability Act;
  • Pre-contract negotiation and post-outsourcing monitoring; and
  • RPM's eventual melding with other portfolio management disciplines, such as Product Portfolio Management, Project Portfolio Management, Risk Portfolio Management, Service Portfolio Management, and much, much more.

KnowIT for Resource Portfolio Management

The KnowIT platform is ready to act as your Resource Inventory solution. It's Resource Management module allows enterprises to catalog and track each and every Resource in their organization. With the KnowIT platform, enterprises can now:

  • Understand and manage all Resources across all organizations within your enterprise, regardless of region
  • Track critical Resource factors, such as severities, roles, responsibilities, skill sets, and much more, allowing your enterprise to easily understand what Resources are most important to your enterprise and its stakeholders, world-wide
  • Manage and publish Resource strategies, allowing stakeholders, world-wide to easily see and understand the intent for each Resource
  • Track and manage Resource dependencies, between Resources and other Resources, Projects, Products, Assets, Resources, Organizations, Locations, Documentation, and much, much, more
  • Track and manage Resource lifecycles and their related states
  • Easily create and publish reports that help dimensionalize your Resource portfolio according to what is important to its stakeholders
  • Easily chart and graph characteristics of your Resource portfolio, without leaving the platform
  • See elaborate visualizations that highlight dependencies that are critical for managing your portfolio
  • Track and manage your Resource costs by understanding costs of the Resources, themselves, and associated dependencies that are typically hidden from conventional management practices

With KnowIT, you and your enterprise can now see what Resources it has, world-wide, and can easily access and manage critical information that helps manage its costs, productivity, quality, and ultimately its revenue.

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