CIPS L4M2 Defining Business Need – Q&A |
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Practice questions for this set
Learn 1 /7 Study using Learn
Reports released once a year as a way of communicating with shareholders
about the performance of a company
Choose an answer
1 Acceptance Testing 2 Business Requirement
3 Company Annual Reports 4 Arms-length Relationship
Don't know?
Terms in this set (142)
Acceptance Testing A form of testing used to determine if the
requirements of a specification or contract are met
Accrual An adjustment made to a set of financial accounts to
reflect activity that has occurred but for which cash
has not yet been received or paid
, Annual Planning Cycle Planning involves a number of activities, such as
analysis of opportunities, setting aims, exploring
options, producing detailed plans and reviewing the
plan against expectations. A cycle of activities as the
result where each activity might need the previous
activity revised before the final plan is accepted
Approved Supplier List A list of approved suppliers who have the skills (for
example, technical, functional or financial) to
undertake the work
Arms-length Relationship The relationship between two parties each whom has
no obligation to the other
Asset Value The value of everything an organisation owns
Bargaining Power The ability of a company or individual to influence
another
Benchmarked Prices The price paid for a product or service either in the
past or by other users in order to set a standard for
future reference
Bill of Materials A comprehensive list of components, items, materials
and parts to create a product, essentially a recipe for
the production of an item
Break-Even Point The level of output of output of a business at which
revenue equals total costs
Breakthrough Result The achievement of a particularly important and
significant result
Business Case A document that sets out the justification for
undertaking a project on commercial grounds
Business Requirement The activities that meet the need of, and provide
value to, the business (also called business need)
Concise Study Guide
Save
Practice questions for this set
Learn 1 /7 Study using Learn
Reports released once a year as a way of communicating with shareholders
about the performance of a company
Choose an answer
1 Acceptance Testing 2 Business Requirement
3 Company Annual Reports 4 Arms-length Relationship
Don't know?
Terms in this set (142)
Acceptance Testing A form of testing used to determine if the
requirements of a specification or contract are met
Accrual An adjustment made to a set of financial accounts to
reflect activity that has occurred but for which cash
has not yet been received or paid
, Annual Planning Cycle Planning involves a number of activities, such as
analysis of opportunities, setting aims, exploring
options, producing detailed plans and reviewing the
plan against expectations. A cycle of activities as the
result where each activity might need the previous
activity revised before the final plan is accepted
Approved Supplier List A list of approved suppliers who have the skills (for
example, technical, functional or financial) to
undertake the work
Arms-length Relationship The relationship between two parties each whom has
no obligation to the other
Asset Value The value of everything an organisation owns
Bargaining Power The ability of a company or individual to influence
another
Benchmarked Prices The price paid for a product or service either in the
past or by other users in order to set a standard for
future reference
Bill of Materials A comprehensive list of components, items, materials
and parts to create a product, essentially a recipe for
the production of an item
Break-Even Point The level of output of output of a business at which
revenue equals total costs
Breakthrough Result The achievement of a particularly important and
significant result
Business Case A document that sets out the justification for
undertaking a project on commercial grounds
Business Requirement The activities that meet the need of, and provide
value to, the business (also called business need)
