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Phase-gate Process
A phase-gate process (also referred to as a stage-gate process or waterfall process) is a project management technique in which an initiative or project (e.g., new product development, software development, process improvement, business change) is divided into distinct ''stages'' or ''phases'', separated by decision points (known as ''gates''). At each gate, continuation is decided by (typically) a manager, steering committee, or governance board. The decision is made based on forecasts and information available at the time, including the business case, risk analysis, and availability of necessary resources (e.g., money, people with correct competencies). History A phased approach to investment decisions for development arose in large-scale projects for mechanical and chemical engineering, particularly since the 1940s. One source described eight phases. In 1958, the American Association of Cost Engineers created four standard cost estimate type classifications to match these ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Waterfall Process
The waterfall model is a breakdown of project activities into linear sequential phases, meaning they are passed down onto each other, where each phase depends on the deliverables of the previous one and corresponds to a specialization of tasks. The approach is typical for certain areas of engineering design. In software development, it tends to be among the less iterative and flexible approaches, as progress flows in largely one direction ("downwards" like a waterfall) through the phases of conception, initiation, analysis, design, construction, testing, deployment and maintenance. The waterfall development model originated in the manufacturing and construction industries, where the highly structured physical environments meant that design changes became prohibitively expensive much sooner in the development process. When first adopted for software development, there were no recognised alternatives for knowledge-based creative work. History The first known presentation descr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Big Design Up Front
Big Design Up Front (BDUF) is a software development approach in which the program's design is to be completed and perfected before that program's implementation is started. It is often associated with the waterfall model of software development. Arguments for Proponents of waterfall model argue that time spent in designing is a worthwhile investment, with the hope that less time and effort will be spent fixing a bug in the early stages of a software product's lifecycle than when that same bug is found and must be fixed later. That is, it is much easier to fix a requirements bug in the requirements phase than to fix that same bug in the implementation phase, as to fix a requirements bug in the implementation phase requires scrapping at least some of the implementation and design work which has already been completed. Joel Spolsky, a popular online commentator on software development, has argued strongly in favor of Big Design Up Front: "Many times, thinking things out in advanc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Opportunity Management
Opportunity management (OM) has been defined as "a process to identify business and community development opportunities that could be implemented to sustain or improve the local economy". Opportunity management is a collaborative approach for economic and business development. The process focuses on tangible outcomes. Opportunity management may result in interesting and motivating projects that help improve teamwork. Its three components are #generating ideas, #recognizing opportunities, and #driving opportunities. Risk Risk management can be described as the process of proactively working with stakeholders to minimise the risks and maximise the opportunity associated with project decisions. Risks are about the possibility of an adverse consequence. Good risk management does not have to be expensive or time consuming but relies on adaptability in response to change. Risk management ensures that an organization identifies and understands the risks to which it is exposed. Or ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Internal Rate Of Return
Internal rate of return (IRR) is a method of calculating an investment’s rate of return. The term ''internal'' refers to the fact that the calculation excludes external factors, such as the risk-free rate, inflation, the cost of capital, or financial risk. The method may be applied either ex-post or ex-ante. Applied ex-ante, the IRR is an estimate of a future annual rate of return. Applied ex-post, it measures the actual achieved investment return of a historical investment. It is also called the discounted cash flow rate of return (DCFROR)Project Economics and Decision Analysis, Volume I: Deterministic Models, M.A.Main, Page 269 or yield rate. Definition (IRR) The internal rate of return on an investment or project is the "annualized effective compounded return rate" or rate of return that sets the net present value of all cash flows (both positive and negative) from the investment equal to zero. Equivalently, it is the interest rate at which the net present value ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Net Present Value
The net present value (NPV) or net present worth (NPW) applies to a series of cash flows occurring at different times. The present value of a cash flow depends on the interval of time between now and the cash flow. It also depends on the discount rate. NPV accounts for the time value of money. It provides a method for evaluating and comparing capital projects or financial products with cash flows spread over time, as in loans, investments, payouts from insurance contracts plus many other applications. Time value of money dictates that time affects the value of cash flows. For example, a lender may offer 99 cents for the promise of receiving $1.00 a month from now, but the promise to receive that same dollar 20 years in the future would be worth much less today to that same person (lender), even if the payback in both cases was equally certain. This decrease in the current value of future cash flows is based on a chosen rate of return (or discount rate). If for example there exists ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Environment, Health And Safety
Environment (E), health (H) and safety (S), EHS is an acronym for the set that studies and implements the practical aspects of protecting the environment and maintaining health and safety at occupation. In simple terms it is what organizations must do to make sure that their activities do not cause harm to anyone. Commonly, ''quality'' - quality assurance and quality control - is adjoined to form the company division known as ''HSQE''. From a safety standpoint, it involves creating organized efforts and procedures for identifying workplace hazards and reducing accidents and exposure to harmful situations and substances. It also includes training of personnel in accident prevention, accident response, emergency preparedness, and use of protective clothing and equipment. Better health at its heart, should have the development of safe, high quality, and environmentally friendly processes, working practices and systemic activities that prevent or reduce the risk of harm to people in g ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Strategic Business Unit
A strategic business unit (SBU) in business strategic management, is a profit center which focuses on product offering and market segment. SBUs typically have a discrete marketing plan, analysis of competition, and marketing campaign, even though they may be part of a larger business entity. An SBU may be a business unit within a larger corporation, or it may be a business into itself or a branch. Corporations may be composed of multiple SBUs, each of which is responsible for its own profitability. General Electric (GE) is an example of a company with this sort of business organization. SBUs are able to affect most factors which influence their performance. Managed as separate businesses, they are responsible to a parent corporation. GE has 49 SBUs. Companies today often use the word '' segmentation'' or '' division'' when referring to SBUs or an aggregation of SBUs that share such commonalities. Commonalities A SBU is generally defined by what it has in common, as well as the tra ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Value-added Reseller
A value-added reseller (VAR) is a company that adds features or services to an existing product, then resells it (usually to end-users) as an integrated product or complete "turn-key" solution. This practice occurs commonly in the electronics or IT industry, where, for example, a VAR might bundle a software application with supplied hardware. The added value can come from professional services such as integrating, customizing, consulting, training and implementation. The value can also be added by developing a specific application for the product designed for the customer's needs which is then resold as a new package. VARs incorporate platform software into their own software product packages. The term is often used in the computer industry, where a company purchases computer components and builds (for example) a fully operational personal computer system usually customized for a specific task (such as non-linear video editing). By doing this, the company has added value above the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Software Testing
Software testing is the act of examining the artifacts and the behavior of the software under test by validation and verification. Software testing can also provide an objective, independent view of the software to allow the business to appreciate and understand the risks of software implementation. Test techniques include, but not necessarily limited to: * analyzing the product requirements for completeness and correctness in various contexts like industry perspective, business perspective, feasibility and viability of implementation, usability, performance, security, infrastructure considerations, etc. * reviewing the product architecture and the overall design of the product * working with product developers on improvement in coding techniques, design patterns, tests that can be written as part of code based on various techniques like boundary conditions, etc. * executing a program or application with the intent of examining behavior * reviewing the deployment infrastructure a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Prototype
A prototype is an early sample, model, or release of a product built to test a concept or process. It is a term used in a variety of contexts, including semantics, design, electronics, and software programming. A prototype is generally used to evaluate a new design to enhance precision by system analysts and users. Prototyping serves to provide specifications for a real, working system rather than a theoretical one. In some design workflow models, creating a prototype (a process sometimes called materialization) is the step between the formalization and the evaluation of an idea. A prototype can also mean a typical example of something such as in the use of the derivation 'prototypical'. This is a useful term in identifying objects, behaviours and concepts which are considered the accepted norm and is analogous with terms such as stereotypes and archetypes. The word ''prototype'' derives from the Greek , "primitive form", neutral of , "original, primitive", from πρῶτ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Maj Engineering Publishing
Maj may refer to: * Major, a rank of commissioned officer in many military forces * ''Máj'', a romantic Czech poem by Karel Hynek Mácha * ''Máj'' (literary almanac), a Czech literary almanac published in 1858 * Marshall Islands International Airport People * DJ Maj, American Christian music DJ * Fabio Maj (born 1970), Italian cross country skier * Maj Bylock (1931–2019), Swedish writer, translator, teacher * Maj Sjöwall (born 1935), Swedish author and translator * Maj Sønstevold (1917–1996), Swedish composer * Maj Helen Sorkmo (born 1969), Norwegian cross country skier * Maj Britt Theorin (1932–2021), Swedish social democratic politician and diplomat * Paulina Maj-Erwardt Paulina Maj-Erwardt ( Maj, born 22 March 1987) is a Polish volleyball player, who plays as a libero. She was part of the Polish team that came third at the 2009 Women's European Volleyball Championship and the 2009 Summer Universiade. She curr ... (born 1977), Polish volleyball player * Acronym ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cambridge, Massachusetts
Cambridge ( ) is a city in Middlesex County, Massachusetts, United States. As part of the Boston metropolitan area, the cities population of the 2020 U.S. census was 118,403, making it the fourth most populous city in the state, behind Boston, Worcester, and Springfield. It is one of two de jure county seats of Middlesex County, although the county's executive government was abolished in 1997. Situated directly north of Boston, across the Charles River, it was named in honor of the University of Cambridge in England, once also an important center of the Puritan theology embraced by the town's founders. Harvard University, the Massachusetts Institute of Technology (MIT), Lesley University, and Hult International Business School are in Cambridge, as was Radcliffe College before it merged with Harvard. Kendall Square in Cambridge has been called "the most innovative square mile on the planet" owing to the high concentration of successful startups that have emerged in th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
