The document discusses optimization of resource allocation in computational grids. It proposes using a Teaching-Learning Based Optimization (TLBO) approach for resource allocation. The TLBO algorithm is found to outperform existing algorithms like Ant Colony Optimization, Genetic Algorithm, and Particle Swarm Optimization in terms of execution time and cost. The algorithm is simulated using GRIDSIM and results are presented. Existing resource allocation strategies in computational grids are also reviewed, including static and dynamic approaches as well as auction/market-based models.