In organizational studies, resource management is the efficient and effective development of an organization’s resources when they are needed. Such resources may include financial resources, inventory, human skills, production resources, or information technology (IT).
In the realm of project management, processes, techniques and philosophies as to the best approach for allocating resources have been developed. These include discussions on functional vs. cross-functional resource allocation as well as processes espoused by organizations like the Project Management Institute (PMI) through their Project Management Body of Knowledge (PMBOK) methodology of project management. Resource management is a key element to activity resource estimating and project human resource management.