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allocation | Intermediate English

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November 20, 2018

What is an allocution statement.

After pleading guilty, a defendant is typically offered a formal opportunity to address the court to express remorse, and explain personal circumstances that might be considered in sentencing. This is known as an allocution statement. These statements have a long and important history in the American legal system, serve a variety of functions, and, as “Teaching Legal Docs” explores here, produces an associated legal document.

The allocution statement provides an opportunity for defendants to accept responsibility, humanize themselves, and to mitigate their sentences to ensure that their punishment is appropriate for both the crime and the person who committed it.

From the court’s perspective, judges cannot simply accept a defendant’s guilty plea. They must determine that there is an “adequate factual basis to support the charge and the plea” and that the plea was “knowingly, voluntarily, and intelligently made.” Allocution statements aid in making these determinations. With this in mind, not all defendants exercise their right to submit an allocution statement directly to the court. Lawyers may submit statements on the defendant’s behalf, or statements may be waived entirely. According to a 2014 survey of federal judges, 84 percent of defendants in federal court exercise their right to allocution.

Allocution statements are sometimes also used at other times in court, outside of sentencing. For instance, judges might allow allocution at resentencing, probation, or supervised release hearings. Allocution rights appear at the state level, though they vary across jurisdictions. Likewise, the protocols for delivering the statement might vary between being written or spoken. In fact, several famous allocution statements in history were spoken, including John Brown’s statement to the court after being sentenced to death in 1859, and Susan B. Anthony’s statement to the court after being arrested for voting in 1873. Here, “Teaching Legal Docs” will focus on allocution at the federal court level, which concerns written statements. In federal court, allocution is discussed in Rule 32(i)(4) of the Federal Rules of Criminal Procedure, providing an “opportunity to speak” prior to sentencing. The court must provide not only the defendant, but also the defendant’s lawyer and the government’s lawyer, with opportunities for allocution.

Roots in English Law

Allocution rights may be traced back to 1689, when English courts recorded that, in cases in which defendants faced possible death sentences, the failure to ask defendants directly if they had anything to say prior to sentencing constituted a basis for reversal. By the 17th century, English and colonial American courts sometimes permitted and sometimes required allocution. But there was no general agreement about when allocution rights were required or how they should be exercised. After the 17th century, the practice decreased in Britain because death penalty sentences also decreased. But the practice flourished in the United States as it was not limited to capital cases.

The right of allocution appears at the federal level in the first version of the Federal Rules of Criminal Procedure, published in 1946. It has evolved slightly over time, especially following a Supreme Court ruling in 1961, Green v. United States, in which the Court ruled that it was not enough to offer the defendant’s lawyer an opportunity speak. In his opinion for the Court, Justice Felix Frankfurter described allocution as a “matter of good judicial administration,” and explained that judges should “unambiguously address themselves to the defendant,” leaving “no room for doubt that the defendant has been issued a personal invitation to speak prior to sentencing.”

The Statement

It might seem unusual in today’s digital age, but allocution statements almost always originate as handwritten documents, typically 1–3 pages in length. The federal rule does not specify whether the statement should be presented in writing to the court or spoken directly to the judge, but, at the federal court level, the statement is generally handwritten. This is due in part to practical reasons—the defendant may lack access to a typewriter or computer. But handwriting actually tends to reveal more about the individual. The example here showcases this, as the handwritten version exhibits penmanship, crossed out words, spacing, and lacks punctuation that was included in the typed version. Sometimes it is not practical to include a handwritten statement, if a defendant has injured his or her hand, for example. In these cases, typed statements are arranged. In either circumstance, handwritten or typed, the statement is filed in the court, with case number, parties, and date stamped or attached. What do the statements actually say? That varies from defendant to defendant, but, typically, the defendant’s lawyer will advise the defendant what to consider or include. The lawyer might provide a list of questions for the defendant to address, such as:

In the excerpted example here, the defendant’s statement includes personal goals and reasons for self-improvement that might benefit others besides the defendant.

Do They Have Any Effect on Sentencing?

Allocution statements may or may not have an effect on sentencing, depending on the case, crime committed, or tone of the statement. While it is difficult to say with certainty, when federal judges were surveyed in 2014 they indicated that, overall, they are hesitant to lower or increase sentences based on allocution. Certain crimes, however, elicit trends in sentencing regardless of allocution. For example, judges seemed least likely to lower sentences for crimes involving child pornography, while low-level drug crimes and white-collar crimes inspired them to consider mitigating factors in sentencing.

Outside of sentencing, allocution statements serve several different purposes for the parties involved in a particular case and for society at large. They allow the court to quickly recognize the humanity of the matter before it, and provide the judge with a better understanding of the defendant. Allocution statements also benefit victims and their families, as well as the defendant’s family. They also help defendants accept responsibility for their actions, and make the defendant a meaningful part of the sentencing process. When statements are released, as Bernie Madoff’s was in 2009, they also provide the public with an opportunity to better understand the crime and the defendant and the resolution to the case.

What are the meanings for Allocation statuses?

Retirement Planning

Portfolio Construction

What Is Asset Allocation and Why Is It Important? With Example

James Chen, CMT is an expert trader, investment adviser, and global market strategist.

allocation question meaning

Marguerita is a Certified Financial Planner (CFP®), Chartered Retirement Planning Counselor (CRPC®), Retirement Income Certified Professional (RICP®), and a Chartered Socially Responsible Investing Counselor (CSRIC). She has been working in the financial planning industry for over 20 years and spends her days helping her clients gain clarity, confidence, and control over their financial lives.

allocation question meaning

What Is Asset Allocation?

Asset allocation is an investment strategy that aims to balance risk and reward by apportioning a portfolio's assets according to an individual's goals, risk tolerance , and investment horizon . The three main asset classes — equities , fixed-income, and cash and equivalents—have different levels of risk and return, so each will behave differently over time.

Key Takeaways

Why Asset Allocation Is Important

There is no simple formula that can find the right asset allocation for every individual. However, the consensus among most financial professionals is that asset allocation is one of the most important decisions that investors make. In other words, the selection of individual securities is secondary to the way that assets are allocated in stocks , bonds , and cash and equivalents , which will be the principal determinants of your investment results.

Strategic Asset Allocation to Rebalance Portfolios

Investors may use different asset allocations for different objectives. Someone who is saving for a new car in the next year, for example, might invest their car savings fund in a very conservative mix of cash, certificates of deposit (CDs) , and short-term bonds . An individual who is saving for retirement that may be decades away typically invests the majority of their individual retirement account (IRA) in stocks, since they have a lot of time to ride out the market's short-term fluctuations. Risk tolerance plays a key factor as well. Someone who is uncomfortable investing in stocks may put their money in a more conservative allocation despite a long-term investment horizon.

Age-Based Asset Allocation

In general, stocks are recommended for holding periods of five years or longer. Cash and money market accounts are appropriate for objectives less than a year away. Bonds fall somewhere in between. In the past, financial advisors have recommended subtracting an investor's age from 100 to determine what percentage should be invested in stocks. For example, a 40-year-old would be 60% invested in stocks. Variations of the rule recommend subtracting age from 110 or 120, given that the average life expectancy continues to grow. As individuals approach retirement age, portfolios should generally move to a more conservative asset allocation to help protect assets.

Achieving Asset Allocation Through Life-Cycle Funds

Asset-allocation mutual funds , also known as life-cycle, or target-date, funds, are an attempt to provide investors with portfolio structures that address an investor's age, risk appetite, and investment objectives with an appropriate apportionment of asset classes . However, critics of this approach point out that arriving at a standardized solution for allocating portfolio assets is problematic because individual investors require individual solutions.

The Vanguard Target Retirement 2030 Fund would be an example of a target-date fund. These funds gradually reduce the risk in their portfolios as they near the target date, cutting riskier stocks and adding safer bonds in order to preserve the nest egg. The Vanguard 2030 fund, set up for people expecting to retire between 2028 and 2032, had a 65% stock/35% bond allocation as of Jan. 31, 2022. As 2030 approaches, the fund will gradually shift to a more conservative mix, reflecting the individual's need for more capital preservation and less risk.

In a Nutshell, What Is Asset Allocation?

Asset allocation is the process of deciding where to put money to work in the market. It aims to balance risk and reward by apportioning a portfolio's assets according to an individual's goals, risk tolerance , and investment horizon . The three main asset classes — equities , fixed-income, and cash and equivalents—have different levels of risk and return, so each will behave differently over time.

Why Is Asset Allocation Important?

Asset allocation is a very important part of creating and balancing your investment portfolio. After all, it is one of the main factors that leads to your overall returns—even more than  choosing individual stocks . Establishing an appropriate asset mix of stocks, bonds, cash, and real estate in your portfolio is a dynamic process. As such, the asset mix should reflect your goals at any point in time.

What Is an Asset Allocation Fund?

An asset allocation fund is a fund that provides investors with a  diversified  portfolio of investments across various asset classes. The asset allocation of the fund can be fixed or variable among a mix of asset classes, meaning that it may be held to fixed percentages of asset classes or allowed to go overweight on some depending on market conditions.

Bottom Line

Most financial professionals will tell you that asset allocation is one of the most important decisions that investors make. In other words, the selection of individual securities is secondary to the way that assets are allocated in stocks , bonds , and cash and equivalents , which will be the principal determinants of your investment results.

Society of Actuaries. " Treating Asset Allocation Like a Roadmap ."

U.S. Securities and Exchange Commission: " Investor Bulletin: Target Date Retirement Funds ."

Vanguard (VTHRX). " Vanguard Target Retirement 2030 Fund (VTHRX) ."

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Allocation Function

What is Allocation Function ? Everything you need to know about Allocation Function: definition , meaning , example and more. In this article, you’ll learn the answers to all of these questions.

What is Allocation Function?

Definition : Allocation Function is a part of government spending policies and government taxes involved in governing goods and translation in a economy.

What does Allocation Function mean?

Example - how to use.

Allocation Function is an example of a term used in the field of economics (Economics - ). The Termbase team is compiling practical examples in using Allocation Function.

Qu'est-ce que la Allocation Function?

Définir : La fonction d'allocation fait partie des politiques de dépenses du gouvernement et des taxes gouvernementales impliquées dans les biens directeurs et la traduction dans une économie.

Was ist Allocation Function?

Definition : Die Zuteilungsfunktion ist ein Teil der Regierungspolitik und staatlichen Steuern, die an der Regierungsgüter und der Übersetzung in einer Wirtschaft beteiligt sind.

Que es Allocation Function?

O que é allocation function, related terms, related terms more from author, writ of execution, write a cheque (to…), popular categories.

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allocation question meaning

Resource Allocation

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How does a society decide what to produce and how much to produce? Why is it important to know what to do with available resources? Well, the fact of the matter is that resources are limited. No society has a bottomless well of resources available to them, therefore, there must be a system created to know what and how much to produce and how to distribute it all. To learn how to allocate resources, types of resource allocation, and more, read on!

Resource Allocation Definition

Resource allocation is the distribution of finite resources to specified purposes selected from among several feasible possibilities. However, no society has endless resources; resources are limited. Because they're limited, it is vital to choose which commodities and services to create in order to assure efficiency.

Resource allocation is the distribution of finite resources to specified purposes selected from among several feasible possibilities.

How does one choose which commodities and services should be created? Well, it depends on the type of system that society has. The economic system used by society, like a market, command, or mixed economy , has a substantial impact on resource allocation. Each system has its own set of legal frameworks for allocating limited resources and output.

Decisions on how to distribute resources in a market economy are often made by millions of families and thousands of enterprises — the exact figure will, obviously, vary according to the size of the economy. The critical part is that they engage in the market for products and services as consumers and sellers. A product that is low in supply but in high demand will carry a high price. Meanwhile, one with low demand yet a high supply will have a considerably cheaper price. That which is in the best interest of people and enterprises, as well as prices, serve as the basis of the choices that are to be made with resource allocation.

Market economy is a type of economic structure in which two forces, supply and demand , govern the creation of products and services.

In a market economy, the government has quite a limited role to play.

With the command economy, the government plays a prominent role in all choices made, and, different from the market economy, the focus is on centralization. As a result, central planning tends to define economic goals that contrast with those of market economies. They have a primary goal of obtaining the highest economic rate of growth feasible in order to keep pace with the advances achieved by far more sophisticated market economies.

Command economy is an economic structure in which a central governing body determines the permissible levels of output.

The mixed economy is unquestionably the most distinctive kind of economic organization in the global economy. As the name implies, it involves both the private and public parts of the economy in the distribution of resources. As a result, most major economic choices entail some type of preparation (by private and public firms) and cooperation between government, corporations, and laborers.

Mixed economy is an economic structure that consists of elements of a market economy and those of a command economy.

Check our articles on the different types of economic systems to learn more:

- Command Economy

- Mixed Economy

- Market Economy

How to Allocate Resources

Addressing three essential questions about resource allocation lets us know how to allocate the resources:

What products and services to produce?

Out of the three, the first topic for society to address is, "What products and services should we create with our finite resources?" Should there be more t-shirts made or more button-ups? Notebooks or planners? Ammunition or laptops? The answer to this is important because resources are limited, whereas needs and desires are not. While it's understandable that a lot of products and services are desired, unfortunately, society cannot produce everything that everyone wants — there are limits. There must be a decision made as to what is best to produce.

How to produce the products and services?

The second topic to be addressed is how society's finite resources are utilized to generate products and services. For example: Should water be sold in plastic bottles or glass bottles? Are books to be made with new paper or recycled? Should there be more self-checkouts made for the stores or more human employees kept instead? The decision must be made as to how to allocate limited resources to which commodities. After all, not all products can be produced with the same resources.

Who gets the goods and services?

The third of three allocation issues is, "Who obtains the commodities and services created by society's resources?" Should all of the commodities be supplied to the best workers? Should products be allocated based on age? Income? What about the unemployed then? The production of products is constrained due to limited resources, and due to that, not everyone can get everything they want. There has to be a way to figure out who gets which products and by which criteria they get them.

Resource allocation is like combining several pieces of a puzzle. The intent is to make all of the pieces fit to show the big picture, and to show that all pieces are needed to make a whole. This is exactly what resource allocation does. It combines several factors at once in order to make everything work. All things need to be taken into consideration when it comes to resource allocation, in order to figure out where the resources are most needed.

Resource Allocation Strategies

Resource allocation techniques are the procedures used to allocate products and services. There are nine fundamental ways, and they are occasionally combined. They are:

Command : a central authority provides the product or service.

Random : the service or product is distributed at random, with everybody getting an equal chance of receiving it.

Arbitrary characteristic : a service or product is granted to an individual due to the fact that they fulfill particular criteria, such as age, location, ethnicity, sex, and so on. Because they can alter, the qualities are seen as arbitrary.

Competition : the item or service is given to the winner of a tournament, game, or event.

Force : someone takes the product or a service using legal or illegal means, such as stealing.

Price : the item or service is awarded to the individual capable and willing to pay more than anyone else for it.

First-come, first-served : the very first individual to claim a commodity or service, gets the resource. An example of this would be if there are only two copies of a popular book available for purchase. This would be first-come, first-served!

Majority rule : the individual who receives a majority (or occasionally a plurality) of votes, as in an election, receives the commodity or service.

Resource Allocation Examples

Let's run through an example of resource allocation in order to get a clear picture of what it entails.

Imagine you were to decide to remodel a room in your house. The questions to ask regarding resource allocation would be the following:

Who are you going to hire?

What type of materials are needed?

What's your budget for the remodel?

How much of your budget is going to go towards paying the workers and how much of it has to go towards materials?

By when do you want the remodel to be done?

After you've completed answering all of those questions, there are still parts that need to be given attention. Let's say you wound up having three workers doing the remodel, two ladders, two tool-kits, 2 buckets of paint, and a deadline of a month. These are the resources. But who is going to remodel which part? Which two of the three workers get to use the tool kits? How are they to divide their time equally to get the remodel done in time? What is the optimum daily workload? These are all questions that need to be answered.

One of the most critical components of resource allocation is assigning the appropriate people to a certain job. If you assign a basic, entry-level assignment to a skilled employee or a hard job to a new employee or trainee, you will not receive a great outcome. The cost would be unreasonably expensive in the first instance, and the latter would be stressful with disappointing outcomes.

Types of Resource Allocation

Continuous - It requires a steady intake of the resources necessary. To operate the organization, financial resources, for example, are required on a regular basis.

One-time - It indicates that resources are only assigned and used one time in a process. For example, technology and equipment is something that is only needed once for a company to run its business; more of it is not needed every day. Thus, it is a one-time allocation.

Importance of Good Resource Allocation

One of the main reasons that good resource allocation is important is due to scarcity. Scarcity pertains to a fundamental economic issue: the imbalance between finite resources and buyers' potentially boundless necessities and wants. Time and money are two major examples of limited resources. The majority of people have insufficient amounts of one, the other, or both.

In a perfect world, there would be an abundance of all resources, like water, knowledge, property, and food. There would be no need to figure out how resources are to be allocated. In real life, things are different. Everything has a price. To put it differently, all commodities and production factors are finite to a certain extent. Therefore, good decisions must be made about what products to make and how to make them, which is what resource allocation is all about.

Resource Allocation - Key Takeaways

Frequently Asked Questions about Resource Allocation

--> what is resource allocation, --> what's an example of resource allocation.

An example would be figuring out all of the details of remodeling a room in the house.

--> What are the types of resource allocation?

Continuous and one-time.

--> What are the strategies for good resource allocation?

Command, random, arbitrary characteristic, competition, force price, first come first-served, majority rule.

--> What is the importance of resource allocation?

One of the main reasons that good resource allocation is important is due to scarcity

Final Resource Allocation Quiz

What is resource allocation?

Show answer

Show question

Define market economy

Market economy is a type of economic structure in which two forces, supply and demand, govern the creation of products and services.

Define command economy

Define mixed economy

There are three questions that are asked to determine how to allocate resources:

What products and services should be produced? How will such products and services be produced? Who will get to have these goods and services?

How many strategies are there to resource allocation?

What's an example of resource allocation?

What are the types of resource allocation?

What are the strategies for good resource allocation?

What is the importance of resource allocation?

What's scarcity?

Scarcity   is when there is a high demand, but not enough supply to meet the demand.

Resource allocation techniques are the procedures used to allocate ______ and _______.

products, services

One of the most critical components of resource allocation is...?

Assigning the appropriate people to a certain job

What's an example of the first-come, first-served strategy for resource allocation?

An example of this would be if there are only two copies of a popular book available for purchase.

Why is it necessary to allocate resources?

To ensure market efficiency.

Examples of finite resources are...

In a print shop, the paper that books are printed on requires a  ________ allocation of recourses.

What can be remedied with proper resource allocation?

What is NOT a question you would ask yourself if you were building a house and had to allocate your resources accordingly?

How do I budget my money?

Which are examples of one-time resource allocations?

Buying a car.

Your firm has to produce 15,000 cars annually so that the government will renew your business permits. What type of economy do you most likely live in?

A command economy.

Decisions on how to distribute resources in a ____________ are often made by millions of families and thousands of enterprises.

market economy

Why is "What to produce?" an important question for proper resource allocation?

It will tell us what is most important to produce with our limited resources. 

What do economists mean when they ask "How will products and services be produced?"

They mean which method is the most efficient for production.

"Should we use 3D printers or plaster molds to shape our figurines?" is an example of which question about resource allocation?

How to produce the products and services.

when a service or product is granted to an individual due to the fact that they fulfill particular criteria, such as age, location, or ethnicity, it is an example of which resource allocation strategy?

Arbitrary characteristic.

How does first come, first serve work as a resource allocation strategy?

It means that whoever claims a commodity or a service first, gets it.

If resources are awarded to a winner of a tournament, event, or game it is...

Resource allocation in the form of a competition.

If everyone has an equal chance of receiving a resource the allocation strategy is...

Random allocation.

What is the majority rule?

An individual who receives a majority of votes, as in an election, receives the commodity or service.

Resource allocation is about fairness and not efficiency.

False, resource allocation is about maximizing efficiency even if it is not always perfectly fair.

"Should the best resources go to the highest producers in the society?" answers which of the 3 questions about resource allocation?

"Who gets the goods and services produced?"

A mixed economy is a combination of arbitrary characteristics and random resource allocation.

False, it  is an economic structure that consists of elements of a market economy and those of a command economy.

A mixed economy is the most common structure.

True. M ost major economic choices entail some type of preparation and cooperation between government, corporations, and laborers.

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What is Resource Allocation, and Why is it Important?

June 21, 2021

Resources are a significant investment for most businesses. Therefore, organizations strive to utilize them optimally for profitability and sustainability. However, managers often focus on keeping resources occupied with work and assign tasks without considering employee skills or interests.

This improper resource planning and allocation blows up costs, delays delivery, and ultimately derails projects off their tracks.

According to PMI’s 2017 pulse survey , “43% of projects spike the budget, and 49% cannot adhere to deadlines.” The study also reveals that only 26% of organizations use resource management for successful resource allocation .”

Resource allocation is an essential step in the resource planning process , and an efficient resource management system helps achieve the same. This article will cover the concept, challenges, importance, and successful resource allocation methods.

Get Next-Gen Resource Management Software

1. Definition of resource allocation:

Resource allocation, also known as resource scheduling , recognizes and assigns resources for a specific period to various activities. These activities can be either project or non-project work such as BAU, admin, support, operation, etc.

Assigning 100% of their capacity ensures maximum utilization of resources.

Resources can be either fully or partially available . Therefore, resource managers must take resource availability into account while allocating them to the projects.

a guide on resource allocation in project management

2. What are the challenges of resource allocation?

Resource allocation is often easier said than done. Without the right tools or techniques in place, identifying the right resource can be a daunting task. Let’s have a look at some of the resource allocation challenges:

A. Change in project scope:

Despite taking necessary control measures, the project scope can still change anytime during the project lifecycle. In addition, changes in Project requirements in a n agile world can lead to fluctuating resource demands. So, without an up-to-date resource schedule, frequent allocations to meet the changing needs become incredibly challenging.

B. Use of outdated legacy tools:

Spreadsheets and homegrown tools are inadequate for resource allocation. They fail to provide real-time updates in project/resource schedules, causing discrepancies and redundancies. It can lead to double booking chaos that dampens the project’s success.

C. Miscommunication between sales and delivery team:

While focusing on achieving sales targets, sometimes the sales team doesn’t involve the delivery team before signing the deal. As a result, the delivery team ends up scrambling for resource allocations at the eleventh hour to meet the delivery deadline.

D. Lack of resources visibility within a matrix organization:

Not having a centralized resource planner means there is no visibility of resources and allocations across matrix boundaries. Hence, resource managers find it extremely challenging to allocate the best-suited and cost-effective workforce to the project.

E. Mismatch in the skillset between capacity and demand:

The inability to forecast future pipeline project requirements prohibits identifying skill shortages in advance. This incorrect estimation of capacity vs. demand hinders the project resource allocation process.

guide on project resource management

3. What are the benefits of resource allocation in project management?

Resource allocation is essential in project management as it allows you to plan and prepare for project implementation or achieving goals . In addition, it helps schedule resources in advance and provides an insight into the project team’s progress.

Resource allocation is much more than just delegating assignments. It plays a vital role in project and operations management and eventually improves business performance. It also helps achieve optimum utilization and enhances ROI.

Here are some key benefits of resource allocation in project management:

i) Reduce project resource costs significantly ii) Maximize the productivity of resources on projects iii) Enhance employee engagement and satisfaction iv) Facilitate client satisfaction with successful project delivery v) Achieve the best outcome within existing resource constraints

4. Best resource allocation methods for successful businesses

Now that we know how resource allocation helps in successful project delivery, let’s take a look at some of the best resource allocation methods:

A. Identify and allocate the Best-Visible-Best-Fit resources:

A resource management system consolidates resource data from various systems into a centralized platform. Complete visibility enables effective allocation of resources to the projec t based on skills, qualifications, experience, availability, costs, and other selection criteria. Scheduling cost-effective global resources from low-cost locations maintains profitability without compromising quality.

One of the best methods of project resource allocation is assigning best-visible- best-fit instead of first-available-first-fit resources.   Visibility also allows uniform distribution of skilled resources across multiple projects instead of only deploying them to a high-priority project.

B. Avoid under or overallocation of resources:

Uniform distribution of resources across all projects ensures that no employee is under or overallocated with work. Underallocation of resources results in productivity and revenue loss. Conversely, o verallocation can cause burnout, affect the quality of output, or, worst, result in unplanned attrition.

Forecasting billable /strategic utilization helps project managers to move resources periodically from non-billable to billable/strategic work. Thus, it facilitates optimum resource utilization and improves business efficiency.

effects of resource overallocation

C. Subscribe to an automated resource request process:

While allocating resources, manually sifting through the resource pool or taking phone/email requests from individual project managers can be cumbersome. An automated resource requesting that is independent of cumbersome spreadsheets streamlines the process.

It allows project managers to specify the required skill sets, qualifications, experience, cost, and project timelines. This request directly reaches the inbox of the resource manager in charge, who starts planning for the same. As the entire process is documented and auditable, tracking allocation records eliminates any process-related confusion.

D. Empower employees to work on projects of interest:

Studies have shown that when employees work on tasks of their choice, it has a positive effect on their engagement and productivity. Therefore, managers must also consider their interests instead of allocating resources only based on their skills and availability. To achieve this, resource managers can create open positions and publish the same, which becomes visible to all the relevant personnel across the enterprise.

Accordingly, interested resources can show their interest in joining the project, and the concerned resource manager can select the appropriate project team. It also saves the resource manager’s time from looking across the enterprise to find the right fit and negotiating with their line/ project managers. Therefore, this method is a win-win for both resources and the managers responsible for their allocation.

E. Diversify employee skill sets and responsibilities:

Encourage employees to have at least two or more skills. Allocating resources on projects that need various skills allows them to sharpen their primary skill sets and an opportunity to build new ones. They can also be given further training on acquired skills, and on-the-job experience helps them improve their capabilities.

Sometimes, when employees get roll-off from a project, there isn’t any task to assign them based on their primary skills. Here, their secondary skill sets will come in handy, and they can be made billable by allocating them to other projects.

Sometimes, the demand for a niche skillset to start a new project may arise. As these resources are hard to find, out-rotating a niche resource from an ongoing project helps kickstart the new project. Simultaneously, another resource having minimum qualifications can backfill to continue the current project. This dynamic resource allocation ensures that none of the projects suffer.

allocation question meaning

F. What-if analysis to fulfill dynamic project demands:

Juggling resources within multiple projects is common when resources are limited. However, in this ever-evolving business environment, any error from poor judgment can prove to be very costly. So it is when the simulation of business scenarios comes in handy.

Applying different sets of rules on the same resource pool and comparing situations can help visualize various impacts. For example, it can involve stalling or extending the low priority project’s timeline and allocating its available resources to a high priority one.

What-if analysis, a powerful feature of resource modeling and simulation, helps arrive at potential outcomes using constraint-based assessment. Like weighing the pros and cons of options in our everyday situation, this principle applies to resource plannin g and allocation. Once the ideal and feasible scenario is derived, implementing the same on an actual project schedule facilitates successful resource allocation.

G. Use real-time Business intelligence to monitor and improve resource allocation

Even after the resource allocation process is complete, there can be changes in the project requirement that requires immediate attention. Modern resource management solutions equipped with real-tim e business intelligence dashboards and reports help improve the enterprise’s health index.

Role-based customizable dashboards enable decision-makers to make informed decisions and make adjustments to the resource allocations accordingly. Thus, real-time business intelligence help in tracking and controlling resource allocations ahead of time.

5. The SAVIOM Solution

SAVIOM is the market leader in offering the most powerful and configurable solutions for deploying appropriate resources to suitable projects. With over 20 years of experience, this Australia-based MNC has helped more than 100 clients across over 50 countries address specific business challenges. SAVIOM also provides tools for project portfolagement, professional service automation, and workforce planning software .

allocation question meaning

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Asset Allocation

Asset allocation involves dividing your investments among different assets, such as stocks, bonds, and cash. The asset allocation decision is a personal one. The allocation that works best for you changes at different times in your life, depending on how long you have to invest and your ability to tolerate risk.

Factors to consider include your:

Time Horizon. Your time horizon is the number of months, years, or decades you need to invest to achieve your financial goal. Investors with a longer time horizon may feel comfortable taking on riskier or more volatile investments. Those with a shorter time horizon may prefer to take on less risk.

Risk Tolerance . Risk tolerance is your ability and willingness to lose some or all of your original investment in exchange for potentially greater returns.

What is diversification? What is rebalancing?

What is diversification?

The practice of spreading money among different investments to reduce risk is known as diversification. Diversification is a strategy that can be neatly summed up as “Don’t put all your eggs in one basket.”

One way to diversify is to allocate your investments among different kinds of assets. Historically, stocks, bonds, and cash have not moved up and down at the same time. Factors that may cause one asset class to perform poorly may improve returns for another asset class. People invest in various asset classes in the hope that if one is losing money, the others make up for those losses.

You’ll also be better diversified if you spread your investments within each asset class. That means holding a number of different stocks or bonds, and investing in different industry sectors, such as consumer goods, health care, and technology. That way, if one sector is doing poorly, you may offset it with other holdings in sectors that are doing well.

Some investors find it easier to diversify by owning mutual funds. A mutual fund is a company that pools money from many investors and invests the money in stocks, bonds, and other financial products. Mutual funds make it easy for investors to own a small portion of many investments. A total stock market index fund, for example, owns stock in thousands of companies, providing a lot of diversification for one investment.

A mutual fund won’t necessarily provide diversification, especially if it focuses on only one industry sector. If you invest in narrowly focused mutual funds, you may need to invest in several to be diversified. As you add more investments to your portfolio, you’ll likely pay additional fees and expenses, which will lower your investment returns. So you’ll need to consider these costs when deciding the best way to diversify your portfolio.

What is rebalancing?

Rebalancing is what investors do to bring their portfolio back to its original asset allocation mix. Rebalancing is needed because over time, some investments will grow faster than others. This may push your holdings out of alignment with your investment goals. By rebalancing, you will ensure that your portfolio does not overweight a particular asset category, and you’ll return your portfolio to a comfortable level of risk.

For example, you might start with 60% of your portfolio invested in stocks, but see that rise to 80% due to market gains. To reestablish your original asset allocation mix, you’ll either need to sell some of your stocks or invest in other asset categories.

There are three ways you can rebalance your portfolio:

Before you rebalance your portfolio, you should consider whether the method of rebalancing you decide to use would entail transaction fees or tax consequences. Your financial professional or tax adviser can help you identify ways that you can minimize these potential costs.

Some financial experts advise rebalancing at regular intervals, such as every six or 12 months. Others recommend rebalancing when your holdings of an asset class increase or decrease more than a certain pre-set percentage. In either case, rebalancing tends to work best when done on a relatively infrequent basis.

Shifting money away from an asset class when it is doing well in favor of an asset category that is doing poorly may not be easy. But it can be a wise move. By cutting back on current “winners” and adding more current “losers,” rebalancing forces you to buy low and sell high.

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COMMENTS

  1. Allocation Definition & Meaning

    1 : to apportion for a specific purpose or to particular persons or things : distribute allocate tasks among human and automated components 2 : to set apart or earmark : designate allocate a section of the building for special research purposes allocatable ˈa-lə-ˌkā-tə-bəl adjective allocation ˌa-lə-ˈkā-shən noun allocator ˈa-lə-ˌkā-tər noun

  2. What is Allocation?

    Allocation is the process of requesting access to a data set. If you allocate a data set that exists, the system allows you to open the data set. If you allocate a data set that does not exist, the system creates space for it on an available device and allows you to open that space. A program that requires input and output must be able to open ...

  3. Allocation Definition & Meaning

    noun the act of allocating; apportionment. the state of being allocated. the share or portion allocated. Accounting. a system of dividing expenses and incomes among the various branches, departments, etc., of a business. QUIZ Question TAKE THE QUIZ TO FIND OUT Origin of allocation

  4. Allocation definition and meaning

    allocation in American English (ˌæləˈkeiʃən) noun 1. the act of allocating; apportionment 2. the state of being allocated 3. the share or portion allocated 4. Accounting a system of dividing expenses and incomes among the various branches, departments, etc., of a business Most material © 2005, 1997, 1991 by Penguin Random House LLC.

  5. ALLOCATION

    allocation noun uk / ˌæl.əˈkeɪ.ʃ ə n / us / ˌæl.əˈkeɪ.ʃ ə n / C2 [ U ] the process of giving someone their part of a total amount of something to use in a particular way: the allocation of resources / funds / time Allocation of the grants was handled by a charity that provides support and advocacy for disabled children. C2 [ C ]

  6. ALLOCATION

    allocation noun uk / ˌæləˈkeɪʃ ə n / us [ U ] the act of deciding officially which person, company, area of business, etc. something should be given to, or what share of a total amount of something such as money or time should be given to someone to use in a particular way: resource / time allocation

  7. What Is an Allocution Statement?

    What Is an Allocution Statement? After pleading guilty, a defendant is typically offered a formal opportunity to address the court to express remorse, and explain personal circumstances that might be considered in sentencing. This is known as an allocution statement.

  8. What Is Allocation in Accounting?

    Allocation is essential for ensuring the accuracy of your business's financial reporting. Accurate financial statements enable management to make appropriately informed decisions. If you have a faulty understanding of the costs involved in producing goods/services, incorrect decisions might be made. Cost allocation helps you to avoid that and ...

  9. What Is Resource Allocation? (Definition and How-to Guide)

    Resource allocation is a process that companies use to plan and assign their resources optimally so that their teams can complete projects and tasks on time and within budget. It involves identifying project requirements and business activities and understanding how best to assign available resources given the organisation's finance and schedules.

  10. Knowledge: What are the meanings for Allocation statuses?

    10 D.C. Changed: This displays if the SKU/store's DC has changed and the Allocation holds the old SKU/store DC record. The system checks to see if another record for the new SKU/Store DC exists on the allocation. If the record exists, the allocated quantity is added to the correct DC record.

  11. What Is Asset Allocation and Why Is It Important? With Example

    In a Nutshell, What Is Asset Allocation? Asset allocation is the process of deciding where to put money to work in the market. It aims to balance risk and reward by apportioning a portfolio's...

  12. Allocation Strategies & Examples

    Allocation is defined as how resources are allotted to the people who want them. This is easy for plentiful resources but becomes considerably more complicated as the resource becomes more...

  13. Fund allocation definition and meaning

    Fund allocation definition: An allocation is an amount of something, especially money , that is given to a particular... | Meaning, pronunciation, translations and examples

  14. What is Allocation Function? Definition, Meaning, Example

    Definition: Allocation Function is a part of government spending policies and government taxes involved in governing goods and translation in a economy.

  15. Resource Allocation: Definition & Types

    Resource allocation is the distribution of finite resources to specified purposes selected from among several feasible possibilities. However, no society has endless resources; resources are limited. Because they're limited, it is vital to choose which commodities and services to create in order to assure efficiency.

  16. What is Resource Allocation and Why is it Important?

    Definition of resource allocation: Resource allocation, also known as resource scheduling, recognizes and assigns resources for a specific period to various activities. These activities can be either project or non-project work such as BAU, admin, support, operation, etc. Assigning 100% of their capacity ensures maximum utilization of resources.

  17. Cost Allocation Questions and Answers

    Direct costs for each department and the proportion of service co... View Answer. A dual rate method: a. Allocates costs by separating a common cost into fixed and variable components. b. Each cost component has a different allocation base and an allocation rate. c. Transforms v... View Answer. Zachary Services Company has 57 employees, 35 of ...

  18. Asset Allocation

    Asset allocation involves dividing your investments among different assets, such as stocks, bonds, and cash. The asset allocation decision is a personal one. The allocation that works best for you changes at different times in your life, depending on how long you have to invest and your ability to tolerate risk. Factors to consider include your: