Resource Broker

Term Definition
A resource broker is a person that acts as an agent of resources. The resource broker would negotiate the resources need for an organization or project, ensuring that the necessary resources were available at the right time to complete the objectives.

An organizational resource plan will look at the organization's needs rather than an individual project need. One component of an organization resource plan might be a resource procurement strategy – how will the company obtain the resources needed to achieve their strategic plans. For example, if an organization were in need of two financial analysts in order to meet the objectives of next year's budget, the resource broker would be the person responsible for negotiating the procurement of the needed resources. This might include being involved in recruitment strategies. Resource brokers can be internal or external. In this scenario, a resource broker could be a recruitment firm. The firm would act as the broker for the specific resource needed.

Project and resource brokers use resource plans to express resource requirements in terms of resources needed over a period of time. In the early stages of project planning, indicating for example that you will need “four analysts and two finance managers for five months” is useful. However, in later stages, resource requirements will be  fine-tuned and derive from project plans and timesheets as resources are assigned to tasks. To achieve the objectives of the project resource, brokers would require access to an available resource pool and a systematic methodology for brokering their use for the needed tasks.

Resource brokers make use of tools such as resource calendars, and score-based matching to manage resources. Score-based matching is a useful resource planning tool. It allows you to precisely match resources with project needs. You will be allocating the right resource at the right time, which ensures proficiency on the project and eliminates roadblocks that might be caused by having the wrong resources.

Area of Application
Project Management

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