Describe resource leveling; its objectives and the basic five-step technique to perform it

What will be an ideal response?

Resource leveling is the process that addresses the complex challenges of project constraints. With resource leveling we are required to develop procedures that minimize the effects of resource demands across the project's life cycle. Resource leveling has two objectives: to determine the resource requirements so that they will be available at the right time, and to allow each activity to be scheduled with the smoothest possible transition across usage levels.
The basic steps necessary to produce a resource-leveled project schedule include the following:
Create a project activity network diagram.
From this diagram, create a table showing the resources required for each activity, the activity durations, and total float available.
Develop a time-phased resource loading table that shows the resources required to complete each activity, the activity early starts, and late finish times.
Identify any resource conflicts and begin to smooth the loading table using one or more of the heuristics for prioritizing resource assignment across activities.
Repeat the fourth step as often as necessary to eliminate the source of resource conflicts.