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.

Public-Policy

Scenario:

We’re in the preliminary stages of creating a new healthcare policy. It’s crucial to understand how it could potentially affect the public and our healthcare system.

Response:

Arranging an impact assessment will aid us in predicting potential societal effects of our healthcare policy.