Digital business transformation Definitions

  • P

    project planning

    Project planning is a discipline for stating how to complete a project within a certain timeframe, usually with defined stages, and with designated resources.

  • project post-mortem

    Project post-mortem is a process intended to inform project improvements by determining aspects that were successful or unsuccessful.

  • project scope

    Project scope is the part of project planning that involves determining and documenting a list of specific project goals, deliverables, tasks, costs and deadlines.

  • proof of concept (POC)

    A proof of concept (POC) is an exercise in which work is focused on determining whether an idea can be turned into a reality.

  • Prototyping Model

    The prototyping model is a systems development method in which a prototype is built, tested and then reworked as necessary until an acceptable outcome is achieved from which the complete system or product can be developed. table prototype is finally achieved.

  • R

    rainmaker (business)

    A rainmaker is an individual who generates an unusually high amount of revenue for an organization by bringing new clients and new business to the company.

  • Reddit

    Reddit is a social news website and forum where content is socially curated and promoted by site members through voting.

  • repeatable process

    A repeatable process is a set of actions that allow for a more efficient use of limited resources and reduce unwanted variation during the development and implementation of various projects.

  • risk assessment framework (RAF)

    A risk assessment framework (RAF) is a strategy for prioritizing and sharing information about the security risks to an information technology (IT) infrastructure.

  • ROI (return on investment)

    For a given use of money in an enterprise, the ROI (return on investment) is how much profit or cost saving is realized as a result.

  • S

    SAS 70 (Statement on Auditing Standards No. 70)

    SAS 70 (Statement on Auditing Standards No. 70) was a widely recognized auditing standard that provided guidance on auditing a service organization's internal controls and reporting its customers' financial reporting processes. SSAE 16 replaced SAS 70 in 2011.

  • self-directed work team (SDWT)

    A self-directed work team (SDWT) is a group of people, usually employees in a company, who combine different skills and talents to work without the usual managerial supervision toward a common purpose or goal.

  • shared services

    Shared services is the consolidation of business operations that are used by multiple parts of the same organization.  

  • sharing economy

    The sharing economy, also known as collaborative consumption or peer-to-peer-based sharing, is a concept that highlights the ability -- and perhaps the preference -- of individuals to rent or borrow goods rather than buy and own them.

  • SIPOC diagram (suppliers, inputs, process, outputs, customers)

    A SIPOC (suppliers, inputs, process, outputs, customers) diagram is a visual tool for documenting a business process from beginning to end prior to implementation.

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