resource-allocation

Vocabulary Word

Definition

'Resource-allocation' is a term used when you have a pool of resources and you need to divide it among different tasks or projects. It's like deciding what amount of the budget should be allocated to which department in a company.

Examples in Different Contexts

In tech, 'resource-allocation' can mean assigning server space or bandwidth for applications. A systems administrator might remark, 'Efficient resource-allocation prevented our website from crashing during high traffic.'

Practice Scenarios

Business

Scenario:

With our company's diversification plan for next year, we need to examine how we're distributing our resources effectively.

Response:

We should develop a resource allocation proposal that outlines how we can optimize our capital usage.

Innovation

Scenario:

With the new initiatives in the pipeline, it's crucial that we reserve resources for the most promising projects.

Response:

Do we have a resource allocation strategy that ensures our key projects get the necessary support to succeed?