BMIS Quiz 7

technology evalutation framework

a structured approach for assessing technologies based on functionality, cost, risks, and alignment with business goals

total cost of ownership (TCO)

the full cost of acquiring, implementing and maintaining a technology solution across its lifecycle

return on investment (ROI)

a financial metric comparing the benefits of a technology investment with its costs

request for proposal (rfp)

a formal document to solicit vendor proposals outlining requirements and evaluation criteria

service level agreement (sla)

a contract defining performance expectations, uptime, and support commitments with a vendor

software development lifecycle (sdlc)

the structured process of planning, building, testing and deploying software

agile methodology

an iterative development method emphasizing flexibility collaboration and rapid delivery

waterfell methodology

a sequential approach to development with distinct completed phases

minimum viable product (MVP)

a functional version of a product with essential features to validate assumptions with users 

change management 

a structured approach to preparing people and organizations for adopting new technologies