That is exactly what PI is. The word "allocate" used by RIRs usually corresponds to PI. The corresponding word for PA is "assign".
Um, sorry, Joe, not quite... RIRs use "ALLOCATE" to define space that they have allocated to a "PROVIDER" who will then act as an "LIR" and delegate the space to "other organizations". RIRs use "ASSIGN" to define space that is designated to a particular end-user who will not act as an "LIR" and will not delegate the space to "other organizations". In the v4 world, at least for the ARIN RIR, there is a significant difference in cost between being an LIR (which also gives you automatic membership status in ARIN, but, causes your annual fees to be based on the amount of space allocated to you) and a "Direct End User" (which means you pay initial fees for each assignment, but, your annual fee is $100 per ORGID regardless of how much space or how many ASNs you consume). In part, this fee structure makes sense because LIRs are requiring additional support from ARIN to maintain SWIP or pursue RWHOIS entries. Owen -- If it wasn't crypto-signed, it probably didn't come from me.