I-NODE - In an activity on arrow (AOA) schedule, the node at the beginning of the activity arrow. (June 2007) I-J NOTATION - A system of numbering nodes in an activity-on-arrow network. The I-node is always the beginning of the activity, while the J-node is always the finish. (June 2007) IATROGENIC RISK - In a risk analysis, an understatement of true risk caused by faulty risk analysis practices including, but not limited to: failing to identify significant threats risks and/or opportunities, assigning probability density functions to too many elements in a Monte Carlo Analysis or range estimate, incorrectly assuming independence between input elements for risk analysis simulations, and failing to adequately quantify the ranges of input elements. Syn.: ANALYST-CAUSED RISK; ANALYST-INDUCED RISK. (December 2011) IDENTIFIER - An alphanumeric code depicting a name or hierarchy. See also: CODE. (June 2007) IDLE EQUIPMENT COST - The cost of equipment that remains on site ready for use but is placed in a standby basis. Ownership or rental costs are still incurred while the equipment is idle. (November 1990) IDLE TIME - A time interval during which either the worker, the equipment or both do not perform useful work. (June 2007) IMMEDIATE ACTIVITY - An activity that can be forced to start on its earliest feasible date by resource scheduling, even if that means overloading a resource. (June 2007) IMPACT- Syn.: CONSEQUENCE; EFFECT. (December 2011) IMPACT COST - Added expenses due to the indirect results of a changed condition, delay, or changes that are a consequence of the initial event. Examples of these costs are premium time, lost efficiency, and extended field and home office overhead. Syn.: DAMAGES, RIPPLE. (April 2004) IMPACT VERSUS PROBABILITY RATING - Syn.: RISK MATRIX. (December 2011) IMPACTED SCHEDULE - The resultant schedule after incorporating a fragnet or other impacts into the unimpacted schedule. See also: UNIMPACTED SCHEDULE. (June 2017) IMPERFECT INFORMATION - information or data for which there exists some uncertainty. (December 2011) IMPERFECTION - A deviation that does not affect the use or performance of the product, process, or service. In practice, imperfections are deviations that are accepted as-is. (November 1990) IMPOSED DATE – (1)A predetermined calendar date set (usually externally) without regard to logical considerations of the network. (2)A date externally assigned to an activity that establishes the earliest or latest date in which the activity is allowed to start or finish. (June 2007) IMPOSED FINISH DATE - A predetermined calendar date set without regard to logical considerations of the network, fixing the end of an activity and all other activities preceding that ending node. (November 1990) IMPOSED START DATE - A start date imposed on an activity by an external constraint. Syn.: FIXED START. (June 2007) IMPOSSIBILITY - An inability to meet contract requirements because it was in fact physically impossible to do so (actual impossibility). (November 1990) IMPRACTICABILITY - Inability to perform because of extreme and unreasonable difficulty, expense, injury, or loss involved. This is sometimes considered practical impossibility. (November 1990) IMPUTATION (OF PRICE MOVEMENT) - The assignment of known price changes to a certain commodity on the basis of the assumed similarity of price movement. (November 1990) IN-PLACE VALUE - Value of a physical property, e.g., market value plus costs of transportation to site and installation. (November 1990) IN-PROGRESS ACTIVITY - An activity that has been started but not completed on a given reporting/data date. (June 2007) IN-PROGRESS INVENTORY - Syn.: WORK-IN-PROCESS. (June 2007) INCLUSIVE OR RELATIONSHIP - Logical relationship indicating that at least one, but not necessarily all, of the activities have to be undertaken. (June 2007) INCOME - Used interchangeably with profit. Avoid using income instead of sales revenue. See also: PROFIT. (November 1990) INCREMENTAL COST (BENEFIT) - The additional cost (benefit) resulting from an increase in the investment in a project. Syn.: MARGINAL COST (BENEFIT). \[1\] (November 1990) INCREMENTAL MILESTONE TECHNIQUE - An earned value technique that pre-assigns budget to technical milestone completions. When the milestone is completed 100% of the budgeted “weight” assigned to the milestone is earned. (October 2013) INDEPENDENT EVENT - An event which in no way affects the probability of the occurrence of another event. (November 1990) INDEPENDENT ESTIMATE AT COMPLETION (IEAC) - In terms of earned value, a calculation of the final estimated cost for a project usually through EVM efficiency rates (e.g., CPI and SPI). Usually a range of estimates at completion are calculated from distinct equations that allow for an enhanced capability (often described as a statistical forecast) to analyze the project's performance throughout its life-cycle. See also: INDEPENDENT ESTIMATE AT COMPLETION \[IEAC(t)\]. (March 2016) INDEPENDENT ESTIMATE AT COMPLETION \[IEAC(t)\] - In terms of earned schedule, the difference between the baseline project duration and the estimated project duration in time increments. See also: INDEPENDENT ESTIMATE AT COMPLETION (IEAC). (March 2016) INDEPENDENT FLOAT - The degree of flexibility that an activity has which does not affect the float available on any preceding or succeeding activities. (June 2007) INDEPENDENT VARIABLE - An event or condition whose impact or probability is not certain, but which does not depend in any way on the value or probability of any other event or condition. See also: DEPENDENT VARIABLE. (December 2011) INDICATED TOTAL COST - An estimated final cost of a project, program or endeavor based on current progress and forecast effort to complete. See also: ESTIMATE AT COMPLETION (EAC). (June 2007) INDIRECT COSTS – Costs not directly attributable to the completion of an activity, which are typically allocated or spread across all activities on a predetermined basis. (1)In construction, (field) indirects are costs which do not become a final part of the installation, but which are required for the orderly completion of the installation and may include, but are not limited to, field administration, direct supervision, capital tools, startup costs, contractor's fees, insurance, taxes, etc. (2)In manufacturing, costs not directly assignable to the end product or process, such as overhead and general purpose labor, or costs of outside operations, such as transportation and distribution. Indirect manufacturing cost sometimes includes insurance, property taxes, maintenance, depreciation, packaging, warehousing and loading. Syn.: CAPITAL, INDIRECT. See also: BURDEN; DISTRIBUTABLES; FIELD INDIRECTS; HOME OFFICE COST. (October 2013) INDIRECT PACING - When the paced event does not have a logical relationship to the parent delay. The fact that the indirect pacing delay and the parent delay occur during the same period is merely a function of schedule timing, not mandatory logic. (June 2007) INDIVIDUAL PRICE INDEX - An index which measures the price change for a particular commodity, and which may be computed as the ratio of its prices at two points in time. (November 1990) INDIVIDUAL WORK PLAN - The lowest level of the technical plan that defines the tasks and responsibilities of an individual team member. (June 2007) INEFFICIENCY - The state of being less productive or efficient than expected or planned. Syn.: LOSS OF PRODUCTIVITY/EFFICIENCY; LOST PRODUCTIVITY. (June 2007) INEXCUSABLE DELAYS - Project delays those are attributable to negligence on the part of the contractor, which lead in many cases to penalty payments. (June 2007) INFLATION - A persistent increase in the level of consumer prices, or a persistent decline in the purchasing power of money, caused by an increase in available currency and credit beyond the proportion of available goods and services. See also: DEFLATION. (December 2011) INFLUENCE DIAGRAM - A graphical display of the relationships among factors influencing a decision. The diagram shows the influencing relationships among controllable decisions, uncertain conditions, objective variables, and dependent variables. (August 2007) INHERENT RISK - A risk that exists (but may or may not be identified) due to the very nature of the asset, project, task, element, or situation being considered. (December 2011) INITIAL COST - Syn.: FIRST COST; INITIAL INVESTMENT COST. \[1\] (November 1990) INITIAL INVESTMENT COST - Syn.: FIRST COST; INITIAL COST. \[1\] (November 1990) INITIATION - The process of preparing for, assembling resources and getting work started. May apply to any level, e.g., program, project, phase, activity, task. (June 2007) INPUT MILESTONES - Imposed target dates or target events that are to be accomplished, and which control the plan with respect to time. (June 2007) INPUT-OUTPUT ANALYSIS - A matrix which provides a quantitative framework for the description of an economic unit. Basic to input-output analysis is a unique set of input-output ratios for each production and distribution process. If the ratios of input per unit of output are known for all production processes, and if the total production of each end product of the economy, or of the section being studied is known, it is possible to compute precisely the production levels required at every intermediate stage to supply the total sum of end products. Further, it is possible to determine the effect at every point in the production process of a specified change in the volume and mix of end products. (November 1990) INTANGIBLES – (1)In economy studies, conditions or economy factors that cannot be readily evaluated in quantitative terms as in money. (2)In accounting, the assets that cannot be reliably evaluated (e.g., goodwill). (November 1990) INTEGRATED CHANGE CONTROL - The process of reviewing all change requests, approving changes and controlling changes to deliverables and organizational process assets. See also: CHANGE CONTROL; CHANGE MANAGEMENT; CONFIGURATION MANAGEMENT. (June 2007) INTEGRATED COST/SCHEDULE REPORTING - The development of reports that measure actual versus budget, S- curves, BCWS, BCWP, and ACWP. See also: EARNED VALUE MANAGEMENT \[SYSTEM\] (EVM\[S\]) (August 2007) INTEGRATED PRODUCT TEAMS (IPT) - An organizational element responsible for a segment of the work breakdown structure (WBS). Typically, they are cross functional and assigned a charter of responsibility to function as an organizational breakdown structure (OBS) manager in earned value terminology. See also: ORGANIZATIONAL BREAKDOWN STRUCTURE (OBS). (October 2013) INTEGRATED PROJECT PLAN (IPP) - Syn.: PROJECT EXECUTION PLAN (PEP) (November 2020) INTERDEPENDENT EVENT - Not subject to a reciprocal relationship. (June 2007) INTEREST – (1)Financial share in a project or enterprise. (2)Periodic compensation for the lending of money. (3)In economy study, synonymous with required return, expected profit, or charge for use of capital. (4)The cost for the use of capital. Sometimes referred to as the time value of money. (November 1990) INTEREST RATE - The ratio of the interest payment to the principal for a given unit of time and is usually expressed as a percentage of the principal. (November 1990) INTEREST RATE, COMPOUND - The rate earned by money expressed as a constant percentage of the unpaid balance at the end of the previous accounting period. Typical time periods are yearly, semiannually, monthly, and instantaneous. (November 1990) INTEREST RATE, EFFECTIVE - An interest rate for a stated period (per year unless otherwise specified) that is the equivalent of a smaller rate of interest that is more frequently compounded. (November 1990) INTEREST RATE, NOMINAL - The customary type of interest rate designation on an annual basis without consideration of compounding periods. A frequent basis for computing periodic interest payments. (November 1990) INTEREST RATE OF RETURN - Syn.: PROFITABILITY INDEX (PI). (November 1990) INTERFACE - A common physical or functional boundary between different organizations or contractor's products. It is usually defined by an interface specification and managed by a system integration organization. (June 2007) INTERFACE ACTIVITY - An activity connecting a node in one sub-net with a node in another sub-net, representing logical interdependence. The activity identifies points of interaction or commonality between the project activities and outside influences. (June 2007) INTERFACE MANAGEMENT - The management of communication, coordination and responsibility across a common boundary between two organizations, phases, or physical entities, which are interdependent. (June 2007) INTERFACE NODE - A common node for two or more subnets representing logical interdependence. (November 1990) INTERFERENCE - Conduct that interrupts the normal flow of operations and impedes performance. A condition implied in every construction contract is that neither party will do anything to hinder the performance of the other party. (November 1990) INTERIM DATES - Dates established which designate the start or the completion of designated facilities or features of a facility. Also referred to as intermediate access or intermediate completion dates. (June 2007) INTERIM DELIVERABLES - Intermediate deliverables that will be produced as precursors to the final deliverable. (June 2007) INTERMEDIATE EVENTS - Detailed events and activities, the completion of which are necessary for and lead to the completion of a major milestone. (November 1990) INTERMEDIATE MATERIALS - Commodities that have been processed but require further processing before they become finished goods (e.g., fabric, flour, sheet metal). (November 1990) INTERMEDIATE NODE - A node where at least one activity begins and one activity ends. (November 1990) INTERNAL RATE OF RETURN (IRR) - The compound rate of interest that, when used to discount study period costs and benefits of a project, will make their time-values equal. See also: PROFITABILITY INDEX (PI). \[1\] (August 2007) INTERRUPTION - A stopping or hindering of the normal process or flow of an activity. (June 2007) INVENTORY - Raw materials, products in process, and finished products required for plant operation or the value of such material and other supplies, e.g., catalysts, chemicals, spare parts. (November 1990) INVESTMENT - The sum of the original costs or values of the items that constitute the enterprise; used interchangeably with capital; may include expenses associated with capital outlays such as mine development. (November 1990) INVESTMENT COST - Includes first cost and later expenditures that have substantial and enduring value (generally more than one year) for upgrading, expanding, or changing the functional use of a facility, product, or process. \[1\] (November 1990) INVESTOR'S METHOD - Syn.: DISCOUNTED CASH FLOW. (November 1990) IRREFUTABLE LOGIC - Network logic that is rational and compelling and cannot be disputed on the basis of reason. See also: DESIRABLE LOGIC. (June 2007) ISHIKAWA DIAGRAM - Diagram used to illustrate how various causes and sub-causes create a specific effect. Named after its developer Kaoru Ishikawa. Also called cause-and effect diagram or fishbone diagram. \[8\] (June 2007) ISSUE - In risk management, a risk that has occurred or an unplanned question or decision that needs to be addressed by a process other than risk management. (December 2011) ISSUES MANAGEMENT - Management of issues that remain unresolved because they are either in dispute, are uncertain, lack information, or lack authority or commitment for their resolution. (June 2007)