Resource Management is the effective planning, organization, and allocation of anything that can be sold or used to make a profit. Resources can be “tangible” (physical, like raw materials and tools) and “intangible” (non-physical, like intellectual property, staff, time).

“Human resource management” refers to having the right staff.

“Project resource management” refers to having the right resources at the right times to complete projects.

“Digital resource management” refers to managing assets like software.

Strategic resource management ensures that resources are optimized and project deadlines met, that assets are future-proofed and accessible so that teams can use them effectively. When resource management expertise is not available in-house, a company can hire a third-party service or install software that logs and tracks assets, and allows varying access to different administrative levels.