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In strategic planning, resource allocation is a plan for using available resources, for example human resources, especially in the near term, to achieve goals for the future. It is the process of allocating scarce resources among the various projects or business units.
Field allocation or platform allocation denotes allocation cases where contribution sources are more than one production field or more than one offshore platform, making a commingled flow into a pipeline. [13] Well allocation is a term used in the case where the contribution sources are production petroleum wells, or any type of injection well.
Includes the use of an economic mindset to analyze business situations. Described as "a fundamental discipline aimed at understanding and analyzing business decision problems". Is the study of the allocation of available resources by enterprises of other management units in the activities of that unit.
Allocation in Action There is no one-size-fits-all perfect asset allocation model. What's good for you might be less so for someone else, due to the current size of your nest egg, your risk ...
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.
Forecast-based planning, which includes multi-year budgets and more robust capital allocation across business units; Externally oriented planning, where a thorough situation analysis and competitive assessment is performed; Strategic management, where widespread strategic thinking occurs and a well-defined strategic framework is used. [27]
These include discussions on functional vs. cross-functional resource allocation as well as processes espoused by organizations like the Project Management Institute (PMI) through their Project Management Body of Knowledge (PMBOK) methodology of project management. Resource management is a key element to activity resource estimating and project ...
Allocution (law), or allocutus, is a formal statement made to the court; Allocation (oil and gas) in hydrocarbon accounting to assign the proper portions of aggregated petroleum and gas flows back to contributing sources