OFDM is a technique that is chosen for high data rate communication and is important for 4th generation communication systems. To provide best possible quality of service, intelligent allocation of resources such as power, bandwidths are necessary. Various algorithms have been proposed for allocation of resources. Fuzzy Rule Based System (FRBS) and Particle Swarm Optimization (PSO) algorithm are used for optimization of code rate, modulation and power. FRBS is used to choose the best possible modulation and code rate and PSO is used for better power allocation.