Two separate schemes, namely Processor Allocation and Job Scheduling, exist for the management of processor and memory resources in multiprocessors based on Multistage Interconnection Networks (MINs). Each scheme has its own merits and demerits. This paper proposes a new unified scheme for resource management, which combines the two schemes in such a way that combines their individual merits and overcomes/minimizes their inherent demerits. The philosophy of the scheme is equally applicable to resource management in Hypercube based systems.