impact-assessment

Vocabulary Word

Definition

An 'impact assessment' is a process to estimate the outcomes of a project, policy, or decision. It's like a forecast predicting the future effects on the environment, economy, or society.

Examples in Different Contexts

In mergers and acquisitions, 'impact-assessment' can determine the potential benefits and risks. A business analyst might say, 'Our impact-assessment revealed significant synergies but also potential regulatory hurdles.'

Practice Scenarios

Tech

Scenario:

We are on the verge of deploying the major software update. It's essential to understand its effects on our system and end-user experience.

Response:

Yes, it's best we conduct an impact assessment to identify and mitigate potential setbacks.

Business

Scenario:

The new product launch is on the horizon. Let's map out the potential scenarios it could create in our market.

Response:

Agreed-- an elaborate impact assessment would provide us with insights into the potential scenarios.