Definitions

1. noun

the act of assigning or setting aside something (such as money or resources) for a particular purpose

“The university’s allocation of funds for research projects was increased this year.”

2. noun

the amount of something (such as money or resources) that is set aside for a particular purpose

“The company’s allocation for employee bonuses was generous this year.”

3. verb

to assign or set aside something (such as money or resources) for a particular purpose

“The manager allocated the team’s workload to ensure that everyone had a fair amount of work to do.”