Strategic Planning
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 resources among the various projects or business units.
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 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.
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.
Read more about this topic: Resource Allocation
Famous quotes containing the words strategic and/or planning:
“The practice of S/M is the creation of pleasure.... And that’s why S/M is really a subculture. It’s a process of invention. S/M is the use of a strategic relationship as a source of pleasure.”
—Michel Foucault (1926–1984)
“Play for young children is not recreation activity,... It is not leisure-time activity nor escape activity.... Play is thinking time for young children. It is language time. Problem-solving time. It is memory time, planning time, investigating time. It is organization-of-ideas time, when the young child uses his mind and body and his social skills and all his powers in response to the stimuli he has met.”
—James L. Hymes, Jr. (20th century)