- 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.
- In economics, resource allocation is the assignment of available resources to various uses. In the context of an entire economy, resources can be allocated by various means, such as markets or central 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.
- In computing, resource allocation is necessary for any application to be run on the system. When the user opens any program this will be counted as a process, and therefore requires the computer to allocate certain resources for it to be able to run.
Priorities in the allocation of resources
- This has to take into account not only of the prevalence but also the seriousness of the condition. Prevalence meaning both mortality as well as morbidity.
- What priorities should be given to those with the worst prognosis?
- When should small benefits to a large number of people outweigh large benefits to a small number of persons?
- Consideration of costs has become part of medical training and frequently we are told to order the cheapest rather than the best investigation first (compare that to the US where every single A&E seems to have a CT scanner!). With the advent of reforms to the NHS and GPs having more say in the allocation of resources, the difficult decision that they are forced to make on a daily basis will now be clouded by finical consideration more so than ever before.