Project Resource Plan (PRP)
A resource plan addresses how the project will be resourced and what supporting services, infrastructure and third party services will be required. Resource plans enable organizations to maximize resource utilization, balance supply and demand and plan resources over the entire project lifecycle. Companies may also use resource plans to identify resources, which could include human, capital, time, or technological needed to achieve the project's deliverables.
Project and resource managers use resource plans to express resource requirements in terms of resources needed over a period of time. In the early stages of project planning, indicating for example that the project will need “four analysts and two finance managers for five months” is useful. However, in later stages, resource requirements will be fine-tuned and derive from project plans and timesheets as resources are assigned to tasks.
Good project accounting, resource utilization and allocation, budget tracking, scope control, and schedule management are major factors that influence the success of any project. Additionally, a company's project portfolio invariably contains professional services initiatives that will have enormous impact on the enterprise, either positively or negatively. Project selection,
ROI (return on investment) analysis, risk identification and mitigation, therefore, are crucial.