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Master Engineering Disciplines with Structured Notes

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Resource Allocation Models

Resource Allocation Models:

  • Resource allocation is the process of assigning and scheduling resources to project tasks
  • Resources are the life blood of project management
  • Resources are used to carry out the project, and are returned to their owners if not consumed by the project
  • A resource allocation model (RAM) is a methodology for determining where resources should be allocated within an organisation. 
  • Resources may include financial resources, technological resources and human resources.
  • Strategic investment decisions may, of course, impact on the actual allocation in any single year.

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