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Indirect costs

Costs attributed to the cost of doing business. Examples include utilities, office space, and other overhead costs.

Influence diagram

An influence diagram charts out a decision problem. It identifies all of the elements, variables, decisions, and objectives and how each factor may influence another.

Initiating

This process group begins the project. The business needs are identified, and a product description is created. The project charter is written, and the project manager is selected.

Internal Rate of Return

The IRR is a complex formula to calculate when the present value of the cash inflow equals the original investment.

Interviewing

Interviewing subject matter experts and project stakeholders is an approach to identify risks on the current project based on the interviewees' experience.

Invitation for Bid

A document from the buyer to the seller. Requests the seller to provide a price for the procured product or service.

ISO 9000

An international standard that helps organizations follow their own quality procedures. ISO 9000 is not a quality system, but a method of following procedures created by an organization.

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