Glossary - 'I'

• Indirect costs Costs attributed to the cost of doing business. Examples include utilities, office space, and other overhead costs.
• Influence diagram An influence diagram charts out a decision problem. It identifies all of the elements, variables, decisions, and objectives and how each factor may influence another.
• Initiating This process group begins the project. The business needs are identified, and a product description is created. The project charter is written, and the project manager is selected.
• Internal rate of return (IRR) The IRR is a complex formula to calculate when the present value of the cash inflow equals the original investment.
• Interviewing Interviewing subject-matter experts and project stakeholders is an approach to identify risks on the current project based on the interviewees’ experience.
• Invitation for bid A document from the buyer to the seller. Requests that the seller provide a price for the procured product or service.
• ISO 9000 An international standard that helps organizations follow their own quality procedures. ISO 9000 is not a quality system, but a method of following procedures created by an organization.

_________
References:

• PMP Exam Prep, Fifth Edition: Rita's Course in a Book for Passing the PMP Exam by Rita Mulcahy.
  
• PMP Project Management Professional Study Guide, Second Edition by Joseph Phillips.
  
• PMP: Project Management Professional Study Guide, 3rd Edition by Kim Heldman.