Chapter 07 — Key Terms and Definitions#

Technology Evaluation 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.

Waterfall 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.