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Resource Allocation Strategies
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Resource Leveling
Adjusting the start and end dates based on resource constraints to prevent over-allocation.
Agile Resource Allocation
An iterative approach to allocate resources that accommodates changing project requirements.
Scrum
An agile framework for developing, delivering, and sustaining complex products, with an emphasis on software development.
Economic Value Added (EVA)
A measure of a project's financial performance based on the residual wealth calculated by deducting the cost of capital from its operating profit.
Resource Smoothing
Adjusting the activities within their float times so as to balance the resource demand.
Program Evaluation and Review Technique (PERT)
A statistical tool that uses optimistic, pessimistic, and most likely time estimates to find the expected project duration.
Theory of Constraints (TOC)
A methodology that focuses on identifying and managing the bottlenecks that limit a system's performance.
Work Breakdown Structure (WBS)
A hierarchical decomposition of the total scope of work to be carried out by the project team.
Zero-Based Budgeting (ZBB)
A method of budgeting where all expenses must be re-justified and re-approved for each new period.
Return on Investment (ROI)
A measure used to evaluate the efficiency of an investment or compare the efficiency of several investments.
Critical Chain Project Management (CCPM)
A method of planning and managing projects that emphasizes the resources required to execute project tasks.
Priority Matrix
A tool used to prioritize items and allocate resources based on the urgency and importance of the tasks.
Resource Histogram
A bar chart that represents the amount of time that a resource is scheduled to work over a series of time periods.
Critical Path Method (CPM)
Scheduling methodology that identifies the longest path of planned activities to the end of the project.
Monte Carlo Simulation
A mathematical technique that allows people to account for risk in quantitative analysis and decision making.
Six Sigma
A set of techniques and tools for process improvement that focuses on resource allocation to reduce variability in manufacturing and business processes.
Kanban
A just-in-time (JIT) inventory system that controls the supply chain through the use of visual signals.
Cost-Benefit Analysis
The process of comparing the costs and benefits of a project to determine the best allocation of resources.
Activity-based costing (ABC)
Allocating resources to individual activities based on their cost drivers.
Heuristic Allocation
Using rules of thumb or experience-based techniques for allocating resources.
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