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  2. Resource allocation - Wikipedia

    en.wikipedia.org/wiki/Resource_allocation

    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.

  3. Managerial economics - Wikipedia

    en.wikipedia.org/wiki/Managerial_economics

    Is the study of the allocation of available resources by enterprises of other management units in the activities of that unit. Deal almost exclusively with those business situations that can be quantified and handled, or at least quantitatively approximated, in a model. [3] The two main purposes of managerial economics are:

  4. Economic planning - Wikipedia

    en.wikipedia.org/wiki/Economic_planning

    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.

  5. Resource consumption accounting - Wikipedia

    en.wikipedia.org/wiki/Resource_Consumption...

    For example, in the resource consumption accounting approach, resources and their costs are considered as foundational to robust cost modeling and managerial decision support, because an organization’s costs and revenues are all a function of the resources and the individual capacities that produce them."

  6. Opportunity cost - Wikipedia

    en.wikipedia.org/wiki/Opportunity_cost

    In this way, a business can evaluate whether its decision and the allocation of its resources is cost-effective or not and whether resources should be reallocated. [15] Simplified example of comparing economic profit vs accounting profit. Economic profit does not indicate whether or not a business decision will make money.

  7. Resource dependence theory - Wikipedia

    en.wikipedia.org/wiki/Resource_dependence_theory

    These means includes possessing the resource (e.g. directly possessing knowledge), having ownership rights over the resource enforced by legal and social systems, [11] being part of the resource allocation process (e.g. a secretary can determine who access the boss) or being a user of the resource (e.g. workers can slow down production process ...

  8. Resource management - Wikipedia

    en.wikipedia.org/wiki/Resource_management

    The goal is to achieve 100% utilization but that is very unlikely, when weighted by important metrics and subject to constraints, for example: meeting a minimum service level but otherwise minimizing cost. A Project Resource Allocation Matrix (PRAM) is maintained to visualize the resource allocations against various projects.

  9. Banker's algorithm - Wikipedia

    en.wikipedia.org/wiki/Banker's_algorithm

    Banker's algorithm is a resource allocation and deadlock avoidance algorithm developed by Edsger Dijkstra that tests for safety by simulating the allocation of predetermined maximum possible amounts of all resources, and then makes an "s-state" check to test for possible deadlock conditions for all other pending activities, before deciding whether allocation should be allowed to continue.