Consecration is the act of setting something apart for God’s use. This is the basic meaning of sacredness or holiness.
Holiness is not to be confused with righteousness, although the two concepts are connected.
In a sense, there is a sacredness associated with every Christian at the moment they commit themselves to Christ.
But in the Monastic tradition, there is the desire to enter into a deeper level of consecration. This is achieved by becoming a member of a religious order, perhaps living in a monastery, and committing to a rhythm of life patterned after the Disciplines.