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Extra assignment 2 - Essay Example

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Globalisation and the IT explosion in the past decades have brought benefits as well as challenges to the management of projects and the resources located across the globe. Project management includes resource management, and resources are of many types. Understanding of the…
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Client’s December Globalisation and the IT explosion in the past decades have brought benefits as well as challenges to the management of projects and the resources located across the globe. Project management includes resource management, and resources are of many types. Understanding of the different resources and their management is important for strategic project management. This literature review examines the work of researchers in three areas of resource management: skills (competencies) and assets management; knowledge management; and challenges and benefits in virtual team management. While the literature reviewed in assets and skills management shed a lot of light on the different aspects of this subject, the literature on knowledge management brought out the methods of managing the organisational knowledge. The difficulties and issues in managing virtual and extended teams also brought out the importance of culture awareness in managing such teams. This paper will extensively shed light upon how the IT sector has changed lives.
Management of resources can be defined as a comprehensive approach to the collection, storage, process, maintenance and electronic information and the exchange of information between different organisations (de Brisis 141-149). There are a plethora of resources that an organisation can exploit for its development, such as competencies or skills, assets, knowledge, and so on. Due to the rapid evolvement of the globalisation, the resources and their management have also become distributed over time and space in different regions across the world that have different cultures and attitudes.
Management of Information Technology at the global scale is full of challenges. But there are also benefits that accrue to the organisations from the global resources that are accessible to them. Information resource management is important to the organisation for gaining advantages over the competition and maintaining the successful operations of the organisation. The advantages of good management of resources lie in improved productivity and quality of decision-making, as well as in the enhancement of the task performance and organisational learning curve (Feng 1-24). Resources that are valuable and rare can benefit the company that owns them because of their obvious competitive advantage. But this advantage is temporary and can be made to sustain if the firm is able to protect the resources from being imitated, transferred or substituted.
Assets are of prime importance to a company, assets can be of two types namely tangible and intangible. A tangible asset is easily seen or touched whereas an intangible asset cannot be felt or touched, classic example of a tangible asset is the machinery, machinery can be seen and touched. Patents come under intangible assets, they cannot be seen nor can they be touched physically.
Works Cited
De Brisis, Katarina. “Government policy for information resources management and its implication for provision of information services to the public and to the experts.” Computers, Environment and Urban Systems, 19.3 (1995): 141-149. Print.
Feng, Xiuzhen. “Cross Cultural Information Resource Management: Challenges and Strategies.” Information Resources Management: Global Challenges. Ed. Wai K. Law. London: Idea Group Inc., 2007: 1-24. Print. Read More
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