Project Resources and Negotiating

How to determine which resources your project need and how to motivate for you to get them

How to Identify and Negotiate for Resources

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Every project needs resources to achieve its goals. To manage a successful project you must be able to determine which resources you will need and then be able to motivate and negotiate for it. The 3 primary types of resources are: Human Resources; Facilities and Equipment (Assets); Money.

Building the team and obtaining your Human Resources is the most crucial and sometimes the most difficult part to manage in a project. Your other resources will only be effective if your HR uses them efficiently. Your success depends on the knowledge, skill and motivation levels of your HR. (Your human resources could be just you.)

Your assets will vary from project to project. It very likely that your project will make use of assets even if it is the building that you are based or as perceivably insignificant as the light bulb you need in your office. The effective use of what you have available is crucial. Try to determine your resources early on so what you can calculate whether you will need to acquire anything else.

To acquire more resources you need the most important one, Money/Capital. This is the most valuable resources and possible the hardest to acquire. You need money for salaries and equipment. You must be comfortable with numbers to be able to instill confidence in your investor. Budget management is essential because if you don’t have enough money you won’t be able to complete your project. Simple as that…

To negotiate for your resources you need to understand negotiation.

Definition: Negotiation is a discussion between two or more parties aimed at reaching agreement.

GeneralNegotiations can take place at any time in a project, programme or portfolio and may be formal or informal in nature.

Good negotiation skills include:

  • an ability to set goals and limits;
  • emotional control;
  • excellent listening skills;
  • excellent verbal communication skills;
  • Knowledge of when and how to close the negotiation.

Some of the common pitfalls associated with negotiations include:

  • being ill-prepared;
  • opening negotiations with an unreasonable offer;
  • not taking ‘time-outs’ when the negotiations are unduly protracted;
  • rushing negotiations in order to secure a quick agreement;
  • failing to walk away if an agreement is not possible without breaching tolerances;
  • Not remaining calm.

Sources:

https://www.apm.org.uk/body-of-knowledge/people/interpersonal-skills/negotiation/

http://pmtips.net/blog-new/3-types-of-essential-resources-for-your-project

True or False. Facilities is a resource for project managers to utilize.

  • Facilities is a resource for a project manager to utilize