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| ==Origin== | | ==Origin== |
| Medieval Latin ''allocatus'', past participle of ''allocare'', from [[Latin]] ''ad''- + ''locare'' to place, from locus place | | Medieval Latin ''allocatus'', past participle of ''allocare'', from [[Latin]] ''ad''- + ''locare'' to place, from locus place |
− | *[http://en.wikipedia.org/wiki/17th_century 1641] | + | *[https://en.wikipedia.org/wiki/17th_century 1641] |
| ==Definitions== | | ==Definitions== |
| *1: to apportion for a specific [[purpose]] or to particular [[persons]] or [[things]] : [[distribute]] <allocate tasks among [[human]] and [[automated]] components> | | *1: to apportion for a specific [[purpose]] or to particular [[persons]] or [[things]] : [[distribute]] <allocate tasks among [[human]] and [[automated]] components> |
| *2: to set apart or earmark : designate <allocate a section of the building for special [[research]] [[purposes]]> | | *2: to set apart or earmark : designate <allocate a section of the building for special [[research]] [[purposes]]> |
| ==Description== | | ==Description== |
− | [[Resource]] '''allocation''' is used to assign the available resources in an [[economic]] way. It is part of [http://en.wikipedia.org/wiki/Resource_management resource management]. In [http://en.wikipedia.org/wiki/Project_management 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]]. | + | [[Resource]] '''allocation''' is used to assign the available resources in an [[economic]] way. It is part of [https://en.wikipedia.org/wiki/Resource_management resource management]. In [https://en.wikipedia.org/wiki/Project_management 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]]. |
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− | In [http://en.wikipedia.org/wiki/Strategic_planning strategic planning], resource allocation is a plan for using available [[resources]], for example [http://en.wikipedia.org/wiki/Human_resources human resources], especially in the near term, to [[achieve]] [[goals]] for the [[future]]. It is the process of allocating resources among the various projects or [[business]] units. | + | In [https://en.wikipedia.org/wiki/Strategic_planning strategic planning], resource allocation is a plan for using available [[resources]], for example [https://en.wikipedia.org/wiki/Human_resources human resources], especially in the near term, to [[achieve]] [[goals]] for the [[future]]. It is the process of allocating resources among the various projects or [[business]] units. |
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− | The plan has two parts: Firstly, there is the basic allocation [[decision]] and secondly there are [[contingency]] [[mechanisms]]. The basic allocation decision is the [[choice]] of which items to [http://en.wikipedia.org/wiki/Funding fund] in the plan, and what level of funding it should [[receive]], and which to leave unfunded: the [[resources]] are allocated to some items, not to others. | + | The plan has two parts: Firstly, there is the basic allocation [[decision]] and secondly there are [[contingency]] [[mechanisms]]. The basic allocation decision is the [[choice]] of which items to [https://en.wikipedia.org/wiki/Funding fund] in the plan, and what level of funding it should [[receive]], and which to leave unfunded: the [[resources]] are allocated to some items, not to others. |
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− | There are two [[contingency]] mechanisms. There is a [[priority]] ranking of items excluded from the [[plan]], showing which items to fund if more [[resources]] should become available; and there is a priority ranking of some items included in the plan, showing which items should be [[sacrificed]] if total funding must be reduced.[http://en.wikipedia.org/wiki/Allocation_of_resources] | + | There are two [[contingency]] mechanisms. There is a [[priority]] ranking of items excluded from the [[plan]], showing which items to fund if more [[resources]] should become available; and there is a priority ranking of some items included in the plan, showing which items should be [[sacrificed]] if total funding must be reduced.[https://en.wikipedia.org/wiki/Allocation_of_resources] |
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| [[Category: Economics]] | | [[Category: Economics]] |