What does resource allocation refer to in project management?
- Allocating tasks to team members
- Assigning resources such as people, equipment, and materials to project activities
- Creating project budgets
- Setting project timelines
Resource allocation in project management refers to the process of assigning resources such as people, equipment, and materials to specific project activities. This ensures that the necessary resources are available at the right time to complete the project successfully. Efficient resource allocation is crucial for project success as it helps in optimizing resource utilization and minimizing project delays.
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