Resource allocation simply allows you try to predict and track both man hours and $$$. To be honest, it takes pretty good management skills to make it work out and it's easier when you have a contract amount to divide by your hourly fee to determine an estimated number of hours you have to complete the task.
Like I said, easier to do in business than it is with something that is a hobby. I usually look at like resources, what resources? Budget, what budget? Of course I am happy to have a better half who can bring me back to reality so I don't end up in some debtors prison with an awesome truck to show for it.
I am chained to a computer all day and I do agree with the merits of paper and pencil. Just wish I had more time for that in my business as well!