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Resource Allocation Tracking - PMBOK Guide Seventh Edition

The practice of Resource Allocation Tracking is an essential part of project management as it helps to monitor and manage the resources allocated to different tasks of the project. It involves keeping a record of how resources are being utilized and tracking their performance.

By performing Resource Allocation Tracking, we can:
- Ensure optimal use of resources,
- Identify and alleviate resource bottlenecks,
- Keep project on schedule and budget.

How does it work?
The process typically involves assigning resources to tasks and regularly revisiting and adjusting those allocations based on the actual consumption, task progress and any changes in resource availability. Tracking can be done using various tools that provide visual representation of resource usage like Gantt Charts, Resource Histograms etc.

Exam Tips:
When answering questions on Resource Allocation Tracking in the exam, keep these tips in mind:
- Understand the key concept of resource allocation and its purpose in project management,
- Be familiar with different tools and techniques used for tracking resource allocation,
- Always think from a perspective of increasing project efficiency and reducing wastage of resources.
Remember, PMP exam questions often revolve around practical application of concepts. So, try to relate the concept to real-world scenarios.

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Resource Allocation Tracking practice test

Resource allocation tracking is the process of monitoring and analyzing the allocation and use of resources throughout a project's lifecycle. This approach allows project managers to identify real-time resource availability, manage resource schedules, and evaluate resource utilization effectively. By consistently tracking resource allocation, project managers can quickly address issues related to overallocation or underutilization of resources, adjust project schedules as needed, and optimize resources for maximum project efficiency. Additionally, resource allocation tracking provides valuable data for future project planning, enabling organizations to continuously improve their resource management processes.

Time: 5 minutes   Questions: 5

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Project Management Professional Preparation Package (2024)

  • Earn 35 PDUs needed for your PMP certification
  • 12955 Superior-grade Project Management Professional practice questions.
  • Accelerated Mastery: Deep dive into critical topics to fast-track your mastery.
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  • 100% Satisfaction Guaranteed: Full refund with no questions if unsatisfied.
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  • Risk-Free Decision: Start with a 7-day free trial - get premium features at no cost!