project management glossary
vac
validate contract
To verify that a contract is legally binding on both parties.
validation
A term used in C/SCSC to mean approval or compliance with the
criteria.
The approach to proving the user is satisfied.
A term used in C/SCSC to mean "approval" or compliance with the
criteria.
As in Project Validation, the process of providing evidence that a system
meets the needs of the user, i.e. Are we building the 'Right Thing'?
(See also Verification)
valuation
An assessment of market value of property; determination of value in terms
of cost or price, typically for replacement or insurance purposes.
value
Benefit divided by cost.
A standard, principle or quality considered worthwhile or desirable.
Worth or performance divided by cost.
