How To Choose Resource Management Software: Useful Buyer’s Guide

Managing resources may be relatively easy when you're a small organization, but as your company grows, you may find resource management software helps you better keep track of resource utilization.

How to choose resource management software is a critical consideration, since selecting the right software makes resource planning a much easier task.

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What Is Resource Management Software?

Resource management software is a type of software for managing, tracking, scheduling, and forecasting team members and other resources on your project. It allows you to keep track of resource availability and utilization rates.

If you're currently using a simple spreadsheet or other home-grown tool, you've probably noticed these systems can be error-prone, especially when you're dealing with large or complex projects.

Dedicated resource management software solves the complexity issue by offering a single, focused interface for resource management.

What to Look for in Resource Management Software

If you're wondering how to choose resource management software, consider the following points:

• SaaS vs Installed Software
• Dedicated Resource Management vs Project Management Tools
• Must-Have Features In Resource Management Software
• Third Party Integrations
• Pricing

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SaaS vs Installed Software

Many popular tools for resource management are cloud-based solutions, also known as Software as a Service (SaaS). These tools have some clear benefits:

• Being browser-based, their hardware requirements are minimal
• There's no need to install anything or worry about updates
• You’ll be able to access the data anywhere as long as you have an internet connection
• There's no need to worry about backups

However, there are some downsides to using cloud software:

• Updates are server-side, so if you don't like a new version you can't simply opt-out
• You rely on the SaaS provider for security and may be at increased risk of data breaches
• Cloud solutions are often cheaper to get started with, but because they're subscription-based, you may pay more over the lifetime of the product

Dedicated Resource Management vs Project Management Tools

It's common for project management software to have some features for resource forecasting or resource management.

Project managers with mid-size teams who simply want a high-level overview of resource allocation may find the features of their project management software adequate. Some small businesses, or even larger organizations in certain services or creative industries, can do perfectly well with something like Microsoft Project.

However, if you're working on multiple projects, are managing resources in a large organization, or have complex resource requirements, dedicated resource planning software or industry-specific resource management software (such as an IT resource management tool or a construction resource management tool) becomes more useful.

In general, dedicated tools offer better features for forecasting, resource management, tracking availability, and capacity planning across multiple teams. 

Must-Have Features In Resource Management Software

Some common features of resource management software that all tools should include are:

• Tracking resource costs
• Viewing team member availability
• Workload management
• Integration with project planning tools
• Cost calculations (actual and planned costs)
• Timesheets
• Resource forecasting

Depending on the size of your organization and the scale of your project, you might prioritize certain features over others.

For example, agencies are likely to need more robust cost tracking features, whereas bigger enterprise organization might prioritize forecasting features that can help them plan 6 to 8 months in advance.

Third-Party Integrations

You may already have some tools that are heavily integrated into your workflow. For example, you may use Toggl as a time tracking software, and Monday.com as your project management and work planning tool.

The best tools will offer third-party integrations, so they can slot easily into your existing workflow. There may be some additional development work required to get everything working together smoothly, but it's important to have information flowing from one app to another for reporting and scheduling purposes.

Pricing

The pricing structures of resource planning software can vary dramatically. As was mentioned earlier, SaaS solutions are usually subscription-based, whereas standalone software may use a one-off license fee, although there could be additional fees for ongoing support and updates. If you're on a budget, there are also a few options for free resource management software and open source resource management software.

There are several factors to consider when weighing up the decision of SaaS vs on-premise applications. The subscription model of SaaS tools can make it easier to get started with them, as there's a lower up-front outlay.

It's worth taking a moment to calculate the cost of using the tool over a period of a couple of years to determine whether a one-off purchase might save your organization money.

Even within the SaaS world, subscription models can vary dramatically. Check whether there's a per-user fee or even a per-project fee. Large organizations that run multiple projects concurrently or need to have several people updating resource information on the app may find per-user licenses become expensive very quickly.

10 Best Resource Management Software

Start your search for the best resource management software for your organization here. Keeping in mind the considerations above, make a shortlist from the options below.

1. 1. Kantata — Best for real-time resource utilization
2. 2. Productive — Best resource planning and capacity forecasting
3. 3. Resource Guru — Best for hassle-free resource booking
4. 4. Wrike — Best for scalability
5. 5. Bonsai Agency Software — Best for workload optimization
6. 6. monday.com — Best for simple workload planning
7. 7. Hub Planner — Best for midsize and large companies
8. 8. Acuity PPM — Best for project portfolio resource management
9. 9. Saviom — Best for enterprise resource management
10. 10. Microsoft Project — Best for Microsoft users

Resource Management Software Only Works if Your Team Uses It

Before you decide what resource management software or resource scheduling software to adopt, talk to your project leads and the team members who'll be using it.