Project-Based Work and the Holy Grail

I recently finished reading The Once and Future King by T.H. White.  The novel is based upon the Arthur legend, and is titled after the supposed inscription of the marker over King Arthur's grave: HIC IACET ARTHURUS REX QUONDAM REXQUE FUTURUS—"Here lies Arthur, the once and future king."

Part of the Arthur legend includes the quest for the Holy Grail, which Lancelot and the other Knights of the Roundtable were not allowed to find.  Project managers may be more fortunate than Lance and his companions—if they are proven worthy.

What is the Holy Grail for project managers and where can they find it?  In work management terms, effective resource management and accurate capacity planning is the Holy Grail. 

Whenever I speak with customers and the topic of resource management comes up, there are a couple of recurring themes:

1. I'm told, "Capacity planning and resource management is a critical part of our work management process and makes us more efficient and competitive."
2. Or, "We see the value of better capacity planning and are working toward a more formalized method for actually measuring capacity and effectively utilizing our resources."

This is where business project management software can really add value.  The right software will allow project managers to move initiatives around a time-line and see the impact of a new project on their current portfolio of projects—enabling managers and business leaders to make informed decisions about the timing for executing a new project.  It's difficult for managers not to make unrealistic demands on capacity if they have no real idea what their actual capacity is.

Lancelot may have only been allowed to glimpse the Grail, but project managers who "choose wisely" can have it for their own.  Does your organization have a formalized process for managing capacity?  Please share your successes.