Glossary of Project Management Terms – I

Impact
The assessment of the adverse effect of an occurring risk.

Impact Analysis
Assessing the merits of pursuing a particular course of action.

Implementation Phase
The project phase that develops the chosen solution into a completed deliverable. (Note: Realisation is the internationally accepted and preferred term for implementation).

Imposed Date
Point in time determined by circumstances outside the network. Note: A symbol is inserted immediately above the event concerned on activity on arrow networks or adjacent and connected to the appropriate corner of the node on activity on node networks

Imposed Finish
A finished date imposed on an activity by external constraints.

Imposed Start
A start date imposed on an activity by external constraints.

In Progress
An activity that has been started but not yet finished.

Inclusive OR relationship
Logical relationship indicating that at least one but not necessarily all of the activities have to be undertaken.

INCO Terms
A set of international terms defining conditions for delivery and shipping of equipment and materials.

Incurred Costs
Sum of actual and committed costs, whether invoiced/paid or not, at a specific time.

Indirect Cost
Costs associated with a project that cannot be directly attributed to an activity or group of activities.
(Resources expended which are not directly identified to any specific contract, project, product or service, such as overheads and general administration.)

In-house Project
A project commissioned and carried out entirely within a single organisation.

Initiation
Committing the organisation to begin a project.

Integrated Logistics Support
Disciplined approach to activities necessary to
a) cause support considerations to be integrated into product design
b) develop support arrangements that are consistently related to design and to each other and
c) provide the necessary support at the beginning and during customer use at optimum cost.

Integration
The process of bringing people, activities and other things together to perform effectively.

Internal Rate of Return (IRR)
Discount rate at which the net present value of a future cash flow is zero. Note: IRR is a special case of the “discounted cash flow” procedures.

Inverted Matrix
A project orientated organisation structure that employs permanent specialists to support projects.

Issue
An immediate problem requiring resolution.