Method and apparatus for allocating system resources for use by software processes in a computer-based system, such as a wide area network (WAN) comprising a data storage array. A first memory space provides a first bit indicator to indicate whether at least one system resource is available for use. A second memory space provides a second bit indicator to indicate whether a pending software process awaits availability of the system resource. The resource is allocated for use by the process in relation to a combinatorial operation upon the first and second bit indicators, preferably comprising a logical AND operation. The first and second memory spaces are preferably characterized as multi-bit registers. A free resource stack identifies available resources, and a process queue identifies pending processes waiting for released processes. The statuses of the respective stack and queue are reflected in the bits in the multi-bit registers.