Do not bite more than you can chew, the saying goes. This succinctly surmises the need for evaluating available resources against estimated budget. In general, if funds, facilities, and manpower are not enough, carrying out any plan is put on hold.
Nevertheless, estimated costs against available resources in terms of manpower, material, machine, methods and money, or 5M's of management need also to be analyzed. Check-listing and financial assessment can be made in coming up with a comparison between costs and resources, in order to know gaps that need to be addressed. For example in procuring new trucks for a transport company, the availability of drivers, mechanics to handle repair and maintenance, including their training if there are new technologies introduced, adjustment of work assignments, garage or additional parking spaces, tools and equipment, and funds to finance the purchase are among the details to be evaluated. Possible movement and deployment of people are also clarified in connection with additional work loads and use of new equipment.
After assessing and comparing, the amount of needed investments, which consist of the existing assets and additional funds (if ever necessary ), is computed. Usually, there are more opportunities to spend money than money to spend. But weighing the pros and cons, project proponents may drumbeat the need to push the proposal. This need have to be probed through the next level – benefits versus resources.