Methods and apparatus for allocating a system resource in a communication system having an interconnected set of modules and for which the system resource is allocated among the modules are disclosed. The interconnected set of modules may be a multi-shelf daisy-chained DSL access multiplexer (DSLAM), with each of the modules corresponding to a particular shelf of the DSLAM. The system resource is initially allocated among the modules in accordance with a predetermined allocation, e.g., a reserve pool is established with a first portion of the system resource and the remaining portion of the system resource is equally divided among the interconnected modules. The allocation of the system resource is then periodically updated based at least in part on measured characteristics of at least a subset of the modules, the measured characteristics being indicative of utilization of the initial allocation. For example, utilization history data or requests for additional resource allocation may be measured and used in the periodic updating. In the daisy-chained DSLAM implementation, each of the shelves of the DSLAM may have associated therewith a resource measurement and management system (RMMS) element that processes information relating to the initial allocation and the periodic updates.