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Function Allocation. Function allocation (also known as task allocation) is a classic human factors method for deciding whether a particular function will be accomplished by a person, technology (hardware or software) or some mix of person and technology.
asset allocation. Definition. The process of dividing investments among different kinds of assets, such as stocks, bonds, real estate and cash, to optimize the risk/reward tradeoff based on an individual's or institution's specific situation and goals. A key concept in financial planning and money management.