What is Resource Management

Resource management refers to allocating and utilizing an organization's most important assets in an efficient, strategic, and optimized manner. These assets generally range from human, financial, and technological to natural resources. When implemented well, resource management maximizes an organization’s net productivity while minimizing inefficiencies. 

Efficient resource management ensures the completion of projects within given time frames and the budget allocated, thus enabling an organization to use its resources wisely. This is a highly critical function of resource management as it helps build sustainability and competitiveness.