CIO mission Definitions

  • E

    extended enterprise

    Extended enterprise is the concept that a company does not operate in isolation because its success is dependent upon a network of partner relationships.

  • F

    FMEA (failure mode and effective analysis)

    FMEA (failure mode and effective analysis) is a step-by-step approach for collecting knowledge about possible points of failure in a design, manufacturing process, product or service.

  • Fortune 500

    The Fortune 500 is Fortune Magazine's annual ranking of the United States' 500 largest corporations. The list is important because it provides the general public with a sense for which companies have the ability to influence the economy in the United States and whether or not those companies are healthy.  

  • fractional CIO

    A fractional CIO is a high-level consultant who specializes in aligning information technology (IT) with business goals. Quite simply, a fractional CIO works for a fraction of the time, at a fraction of the cost it would take to hire a full-time executive to fill the post.

  • FUN (focus on user needs)

    FUN (focus on user needs) is an approach to information technology (IT) management that places emphasis on improving the user experience (UX).

  • G

    gap analysis

    A gap analysis assesses the differences between the current and desired performance levels of a company's systems or applications.

  • GRC (governance, risk management and compliance) software

    GRC (governance, risk management and compliance) software allows publicly-held companies to integrate and manage IT operations that are subject to regulation. (Continued...)

  • great recession (Great Recession)

    Great recession is a label used by journalists and  economists to describe a severe, prolonged economic downturn.

  • group think

    Group think (also spelled groupthink) is a phenomenon that occurs when group's need for consensus supersedes the judgment of individual group members.

  • growth potential

    Growth potential is an organization's future ability to generate larger profits, expand its workforce and ramp up its production.

  • H

    hackathon

    A hackathon, also known as a codefest, is a social coding event that brings computer programmers and other interested people together to improve upon or build a new software program.

  • hard skills

    Hard skills are specific abilities, or capabilities, that an individual can possess and demonstrate in a measured way.

  • hurdle rate

    A hurdle rate is the required rate of return above which an investment makes sense and below which it does not.

  • I

    ideation management

    Ideation management refers to creating, gathering, analyzing, disseminating and executing on idea generation within the enterprise.

  • incremental innovation

    Incremental innovation is the introduction of small improvements or upgrades to already existing products, services, processes or methods.

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