Tag: process

Markov Process | Glossary

Prashant MJ Leave a comment

Definition:

The Markov Process is the process whose future behavior cannot be accurately predicted from its past behavior (except the current or present behavior) and which involves random chance or probability. Behavior of a business or economy, flow of traffic, progress of an epidemic.

This process is named after the inventor of Markov analysis, the Russian mathematician Andrei Andreevich Markov (1856-1922), also called stochastic process.

Reference:

http://www.businessdictionary.com/definition/Markov-process.html

Gap Analysis | Glossary

Karan Negi Leave a comment

Definition

Gap Analysis is used to assess and identify gaps in the process of an organization. It results in a strength and weaknesses report, and an initial set of recommendations that can eventually help the organizations improve their process and meet their goals.

Executing a Gap Analysis is important for any organization because it facilitates the most effective measures, based on the priorities set. The procedure involves collecting documentation of the organization’s products, and interviewing people involved in those processes( in groups or individually) to identify gaps.

Further Reading

  •  “Integrating CMMI and Agile Development: Case Studies and Proven Techniques for Faster Performance Improvement” (book), by Paul E. McMahon.