Determine resource requirements

Advantages

Identifying what types of resources will be needed for a project, their quantities and time-periods of requirement will help with budgeting appropriately for all inputs required over a projects duration. This is an important process that will help to create a cost effective and time sensitive project. It is useful to identify priority resources (those that are required to meet key project deliverables) in case of a resource shortage. These priority resources will be linked to critical points of the project which must be achieved in order for the project to run smoothly and reach completion. If possible, budget additional funding for priority resource expenses to provide a buffer zone for unexpected costs. 

Disadvantages

There is an inherent element of uncertainty in planning resource requirements for a project, particularly for projects running over a long period of time. It may be useful to look at the resource requirements of similar projects to gain a better understanding of what could be needed.  Unforeseen issues may be encountered, such as loss of staff, external delays or changes to the local context, which will generally be beyond the projects control. To overcome these issues, the project may need to be modified which can require additional resources. Resource suppliers may not always be dependable and it is therefore important to assess their reliability. This can be done through speaking to local stakeholders to learn about their previous experiences.