resource Allocation

(noun)

Resource allocation is used to assign the available resources in an economic way. It is part of resource management. In project management, resource allocation is the scheduling of activities and the resources required by those activities while taking into consideration both the resource availability and the project time.

Related Terms

Examples of resource Allocation in the following topics:

  • Externalities and Impacts on Resource Allocation

    • Production and use of resources can have a positive or negative effect on the allocation of the natural resources.
    • In regards to natural resources, production and use of resources can have a positive or negative effect on the allocation of the resources.
    • In other words, society and the natural resources involved would have been better off if the natural resources had not been used at all.
    • Developed countries use more natural resources and must enact sustainable development plan for the use of resources.
    • Examine externalities and how they the impact resource allocation of natural resources.

  • Elements to job design

    • Allocating jobs and tasks means specifying the contents, method and relationships of jobs to satisfy technological and organizational requirements as well as the personal needs of jobholders.
    • In job design it is necessary to identify and structure jobs in a way so that the company's resources are being efficiently used.
    • Resource Allocation occurs when organizations decide to appropriate or allocate certain resources to specific jobs, tasks or dilemmas facing the organization.
    • Organizations need to use the resources and creativity of their employees effectively and efficiently.
    • Appropriate resource allocation allows large organizations to foster and develop innovation in their workforce (Dorenbosch, van Engen, & Verhagen, 2005).

  • Mintzberg's Management Roles

    • Resource Allocator: allocates the organization's resources; makes or approves of all significant organizational decisions.

  • Economics as a Study of the Allocation of Scarce Resources

    • The domain of economics is the study of processes by which scarce resources are allocated to satisfy unlimited wants.
    • Ideally, the resources are allocated to their highest valued uses.
    • Supply, demand, preferences, costs, benefits, production relationships and exchange are tools that are used to describe and analyze the market processes by which individuals allocate scarce resources to satisfy as many wants as possible.

  • Allocating Scarce Natural Resources

    • The third function served by government is allocating scarce natural resources.
    • How do resources become the property of their first owner?
    • " Somebody simply assumes ownership of the resources and it is his property as long as he can hang on to it.
    • It is often assumed that natural resources that are not already owned automatically belong to the government.
    • All existing or historical governments have determined ownership of natural resources (land, minerals, etc.) arbitrarily.

  • Scheduling Work

    • Allocating jobs and tasks means specifying the contents, methods and relationships of jobs to satisfy technological and organizational requirements as well as the personal needs of jobholders.
    • In job design, it is necessary to identify and structure jobs in a way that the company's resources are being efficiently used.
    • Resource Allocation occurs when organizations decide to appropriate or allocate certain resources to specific jobs, tasks or dilemmas facing the organization.
    • Organizations need to use the resources and creativity of their employees effectively and efficiently.

  • Implementing Strategy

    • Allocating and managing sufficient resources (financial, personnel, operational support, time, technology support)
    • When an organization implements specific programs, it must acquire the requisite resources, develop the process, train, and perform process testing, documentation, and integration with legacy processes.

  • Allocation, Provisioning and the Economic System

    • Given a set of resources, a state of technology, a group of individuals who have a set of preferences and a set of social (including economic) institutions, what is the optimal allocation of those resources.

  • The Allocation Problem

    • If resources are fully employed and the best technology is used, increased production of one good (Xebecs, QX) requires a reduction in the production of some other good (Yawls, QY).

  • Defining Job Design

    • Allocating jobs and tasks means specifying the contents, method, and relationships of jobs to satisfy technological and organizational requirements, as well as the personal needs of jobholders.
    • Resource allocation occurs when an organization decides to appropriate or allocate certain resources to specific jobs, tasks, or dilemmas facing the organization.
    • In job design, it is necessary to identify and structure jobs in a way that uses the company's resources efficiently.
    • Appropriate resource allocation allows large organizations to foster and develop innovation in their workforce and underscores strategy through distribution.