Question

Project management question:

Name 3 different types of resources (hint: humans are one type)

Answer 1

Project management is the process by which the project is planned, executed, monitored and work of the project team is controlled in order to meet the project goals and objectives. Project manager is responsible for managing the project or projects. The job of the project manager is to manage a temporary project team whose role ends once the project gets completed.

The three types of resources are: -

• Natural resources - Natural resources comes under environmental factors that are used by the marketers in different marketing activities. Scarcity of resource depends on the increase in population which can affect the company's productivity in the long-run. The primary trends in the natural environment include increase in government intervention, increased pollution, increase in environment sustainability movement and increase in the shortage of raw material.
• Human resources - Human resource is the important function of an organization whose main function is to manage the human resource. HR helps the employees to improve their performance by

1. Understanding the employees need.
2. Recruit and train employees
3. Management of employees relations
4. Monitor employees performance
5. Handle discrimination at work
6. Handle performance issues
7. Ensure equal opportunities.

• Capital resources - Financial resources refers to the money that is available to a business so that they can send it in the form of cash, liquid securities and credit lines.