Resourcing Strategy and Management

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Name:	Resourcing Strategy and Management
Acronym:
Type:	Glossary Item

Definition:

Determining the strategies, management of activities and processes to be undertaken by an organization to engage people (internal and external), acquire and use assets (e.g., tools, equipment), materials and services to deliver its Asset Management Objectives and Asset Management Plans.

Statement:

Resourcing strategy and management typically includes the analysis and planning necessary to determine the best way to establish, or procure, the resources required to deliver life cycle activities. These are necessary to create, manage, maintain, and enforce contract and supplier management over the entire life cycle of an asset, and take total cost of ownership into consideration. Resourcing strategy management considers the full supply chain including authoring, negotiations, adoption, definition of requirements, appraisal/selection of contractors, outsourcing-insourcing strategies, inventory and claim management. The processes used should be fair, equitable and legal and should also align with corporate standards, procedures, operating procedures, and legislation to ensure that negotiated savings reach the bottom line. Implementing resourcing strategy requires management of funds, personnel, facilities, tools, and materials in delivering Asset Management activities within a defined schedule.

Managing the resources required for the execution of each Asset Management activity includes:

Financial budgeting and management.
Pricing strategies, either price-based strategies such as lump sum, bill of quantities, pricelist/price schedule or activity schedule strategies, or cost-based strategies such as cost reimbursable or target cost strategies.
Identification of critical spares, equipment, and materials.
Spare parts, special tools, and equipment procurement, storing and warehouse management.
Delivery arrangements that range from full internal provision, contracting for goods and services, partnerships, and shared services, to full outsourcing.
Diversity, equity and inclusion considerations or requirements in selection of suppliers.
Standardized contracted Asset Management, maintenance services.
OEM & supplier commitment, partnering and management.
External and internal audit controls and procedures.
Application of risk assessment and management related to resources.
People resource management.

An outcome of the Resourcing Strategy should be a fully developed and agreed plan for the necessary resources to deliver the life cycle strategies (both capital and operational) as defined in the Asset Management Plans.