WHAT ARE THE CLASSIFICATION OF RESOURCES?

 It is very important to classify the resources into various categories to distinguish things. According to Shtub Bard they are categorized in three main types. First one is related to accounting principle. Second and third is related to resource availability. In project management, one has to work with them on daily basis. So it is very important to learn about them in detail.

Accounting principle include labor costs, material costs and production costs. They do not include resources related to tangible things. So the major thing lies in that accounting is a field which deals with numbers. It is clearly mentioned here that this deals with costs. In any project cost is the most important part. It is the only reason that it deals with it. Resource availability has categorized it into two types. Resources which are available at the same time and same level. Fixed work force is the best example of it. While elaborating it can be said that a company who has hired a lot of people for its work. Then it is sure that all the labor is available according to the given time and place. Resources which deplete after some time. The example of it lies in material and computer time. In this type of resources it is very important to have an estimate about the time of depletion. For  construction business, it is very important to know the amount of time in which cement will be finished. As it is the major source of work in this business. Resource availability which are available in unlimited quantity and they are termed as unconstrained resources. The example of it lies in general equipment. One can explain it in this way that someone is using a gym for ones fitness. However, the equipment of gym is not depleting but the time is limited. So it can be said that the equipment is unconstrained resource. Resources which are very expensive to use. They include the use of super computers. Every company has such kind of equipment and they only allow such kind of equipment to specific people. A company which is dealing with technology then it will provide the best computers to its technical staff rather than clerical staff. 

In a nut shell it can be said that they have classified the resources into various categories. They include accounting principle and resource availability. All three types are very important for project management as one has to work with them on daily basis.