Guide on Resource Criticality Analysis

What is Resource Criticality Analysis?
Resource Criticality Analysis is a method used in project management to identify and prioritize resources based on their importance, usage, and impact on project objectives. This analysis enables project managers to allocate resources effectively and plan for potential risks associated with resource unavailability. It follows the process of identifying, rating, and ranking resources.

Why is Resource Criticality Analysis important?
Resource Criticality Analysis aids in better project planning and risk management. Understanding the criticality of resources helps to mitigate the impact of resource constraints on project success rates, thus enhancing project performance. It also assists in determining fallback plans and project buffering needs.

How does Resource Criticality Analysis work?
Resources are identified and categorized based on criteria like scarcity, economic impact, and impact on project objectives. Each resource is then assigned a 'criticality index', which is derived from the potential hazard due to the unavailability of that resource, and the probability of that unavailability. The criticality index helps prioritize resources for efficient allocation.

Exam Tips: Answering Questions on Resource Criticality Analysis
1. Understand the concept clearly: Be sure to understand the process and implications of resource criticality analysis.
2. Practice problems: Resource allocation questions often involve case scenarios. Understand how to identify and prioritize resources in these scenarios.
3. Focus on impact: The emphasis should be not just on identifying critical resources, but also understanding their potential impact on the project.
4. Review PMBOK Guide Seventh Edition: This should be your primary reference material. Ensure that you are familiar with how the PMBOK Guide describes Resource Criticality Analysis.