Bishop's Algorithm is a method used in computer science for solving problems related to resource allocation and scheduling. It focuses on optimizing the distribution of limited resources among competing tasks, ensuring that each task receives the necessary resources to complete its execution efficiently. The algorithm operates by evaluating the current state of resource allocation and making adjustments based on predefined criteria. It iteratively refines the allocation until an optimal solution is found, balancing the needs of all tasks while minimizing waste. This approach is particularly useful in environments where resources are constrained and demand fluctuates.