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In the context of an entire economy, resources can be allocated by various means, such as markets, or planning. In project management, resource allocation or resource management is the scheduling of activities and the resources required by those activities while taking into consideration both the resource availability and the project time. [1]
Economic planning is a resource allocation mechanism based on a computational procedure for solving a constrained maximization problem with an iterative process for obtaining its solution. Planning is a mechanism for the allocation of resources between and within organizations contrasted with the market mechanism .
[1] [2] [3] As is the case with the larger discipline of project management, there are resource management software tools available that automate and assist the process of resource allocation to projects and portfolio resource transparency including supply and demand of resources.
In project management, resources are required to carry out the project tasks. These can be people, equipment, facilities, funding, or anything else capable of definition (usually other than labour) required for the completion of a project activity. [1] The lack of a resource can therefore be a constraint on the completion of the project activity.
Strategic planning is an organization's process of defining its strategy or direction, and making decisions on allocating its resources to attain strategic goals. Furthermore, it may also extend to control mechanisms for guiding the implementation of the strategy.
Traditional production planning and scheduling systems (such as manufacturing resource planning) use a stepwise procedure to allocate material and production capacity. This approach is simple but cumbersome, and does not readily adapt to changes in demand, resource capacity or material availability.
In project management, resource leveling is defined by A Guide to the Project Management Body of Knowledge (PMBOK Guide) as "A technique in which start and finish dates are adjusted based on resource limitation with the goal of balancing demand for resources with the available supply." [1] Resource leveling problem could be formulated as an ...
Recreation resource planning is a rational systematic decision-making process about the future management of recreation resources and recreation opportunities. Recreation planning applies analytical tools to deter our human tendencies to make decisions based on predisposition, bias, inadequate analysis, group-think, insular perspective, resistance to change, and excessive self-confidence.