4C - Collaboration to Clarify the Costs of Curation

4C Glossary terms

Some terms have more than one definition. We'd like to know which you think is the better (and why).

A

Account

A record of past (ex post) financial transactions [Source: 4C]

Accountability

Principle of Accountability: A senior executive (or a person of comparable authority) shall oversee the information governance program and delegate responsibility for records and information management to appropriate individuals. The organization adopts policies and procedures to guide personnel and ensure that the program can be audited. [Source: ARMA, http://www.arma.org]

Activity

Measureable amount of work performed by systems and/or people to produce a result [Source: 4C]

Activity checklist

A checklist of digital curation activities that incur costs. Activities may be ordered in categories and different levels of sub categories. [Source: 4C]

Activity-based costing

Activity-based costing (ABC) is a costing methodology that identifies activities in an organization and assigns the cost of each activity with resources to all products and services according to the actual consumption by each. This model assigns more indirect costs (overhead) into direct costs compared to conventional costing. [Source: http://en.wikipedia.org/wiki/Activity-based_costing]

Asset

Something of value owned by the enterprise. An asset is an actual thing (tangible or intangible) owned by the enterprise, rather than the accounting sense of "asset" - the monetary value of the thing. Categories of asset are: fixed asset, resource. [Source: OMG Business Motivation Model]

Audit

the formal assessment of conformity by independent parties. An audit may also result in a Corrective Action Plan whereby the organisation has a record of the actions that need to carry out in order to maintain the requirements of the standard. [Source: D4.3]

Authenticity

Authenticity can be defined as the degree to which a person or system regards an object as what it is purported to be. Authenticity is judged on the basis of evidence. [Source: 4C]

Availability

Principle of Availability: An organization shall maintain records and information in a manner that ensures timely, efficient, and accurate retrieval of needed information. [Source: ARMA, http://www.arma.org]

B

Benefit

Finance: Desirable and measurable outcome or result from an action, investment, project, resource, or technology. [Source: http://www.businessdictionary.com]

Benefit (long-term)

Benefits expected to be received beyond five years from the present. [Source: Keeping Research Data Safe, Beagrie et al]

Benefit (near-term)

Benefits expected to be received up to five years from the present. [Source: Keeping Research Data Safe, Beagrie et al]

Benefit model

A representation that describes the benefits (financial and non-financial) and value of digital curation [Source: 4C]

Big data science

Institutions for scientific research that deal with large amounts of data, e.g. space and high-energy physics research. [Source: see p. 6 in Stakeholder registry]

Budget

A record of estimated future (ex ante) financial transactions over certain periods of time. [Source: 4C]

Business case

an argument usually presented as a document to convince a decision maker to approve an action. The argument should justify the use of resources to support a business need. For this document the business need is carrying out some form of assessment (either a self-assessment, or a formal audit). [Source: D4.3]

Business Process

A set of activities that are performed within an organization or across organizations. A Business Process may contain more than one separate Process. Each Process may have its own Sub-Processes. Individual Processes would be independent in terms of sequence flow, but could have message flows connecting them. An activity is work that is performed within a business process. An activity can be atomic or non-atomic (compound). The types of activity that are a part of a Business Process are: Process, Sub-Process, and Task. [Source: OMG Business Motivation Model]

C

Capital cost

Cost incurred once, by acquisition (building space, equipment, materials) or by investments. Also known as investment cost or one-time cost. [Source: 4C]

Certification

The assignment of a certificate to a body or system related to a standard. In the case of ISO certification, third parties offer these services. ISO does not offer certification though its committee on Conformity Assessment (CASCO) has produced a number of standards defining international consensus on voluntary criteria in certification good practice. [Source: D4.3]

Channel

Means of communication with internal and externals audiences, e.g. social media, direct email, face to face. [Source: 4C]

Compliance

Principle of Compliance: An information governance program shall be constructed to comply with applicable laws and other binding authorities, as well as with the organization’s policies. [Source: ARMA, http://www.arma.org]

Confidentiality

Confidentiality is a set of rules or a promise that limits access or places restrictions on certain types of information. [Source: http://en.wikipedia.org/wiki/Confidentiality]

Consultation

A tool in form of a questionnaire consisting of 13 basic questions and optional 33 additional questions to analyse the potential stakeholder group in-depth; via mailing and web; running time: 5 weeks (May 17th - June 21st 2013) [Source: see /work-packages/engagement/the-4c-consultation]

Corrective Action

Operationalizing and implementing a Corrective Action Plan [Source: D4.3]

Cost

An amount that has to be paid or given up in order to get something. In business, cost is usually a monetary valuation of (1) effort, (2) material, (3) resources, (4) time and utilities consumed, (5) risks incurred, and (6) opportunity forgone in production and delivery of a good or service. All expenses are costs, but not all costs (such as those incurred in acquisition of an income-generating asset) are expenses [Source: http://www.businessdictionary.com]

Cost data

Factual information concerning the cost of labor, material, overhead and other cost elements. [Source: Justia.com]

Cost element

The units costs can be broken down into (e.g. one-time or recurring costs, capital and labour costs) [Source: 4C]

Cost model

A representation that describe how resources, such as labour and capital, required for accomplishing digital curation activities relate to costs. Cost models can further be characterised by their cost structure and how they model cost variables. [Source: 4C]

Cost model (alternative 1)

A representation of the costs of digital curation [Source: 4C]

Cost model (alternative 2)

Set of mathematical equations that converts resource data into cost data. [Source: http://www.businessdictionary.com]

Cost model (alternative 3)

A representation of the activity of digital preservation that can be shared, examined and critiqued and whose purpose is to shed light on the costs entailed in the activity of digital preservation. [Source: APARSEN-REP_D32_1-01-1_0, p. 11]

Cost model expert

Institutions that have developed and/or implemented a digital preservation cost model [Source: see p.6 in Stakeholder registry]

Cost parameter

A factor that help in defining the system being costed, including cost elements (e.g. capital/labour cost) and cost variables (for example quantity of assets, salary levels). [Source: 4C]

Cost structure

Defines the way a model break down costs in elements according to the dimensions activity, resource and time. [Source: 4C]

Cost tool

Implementation of a cost model in an electronic spreadsheet or costing program [Source: 4C]

Cost variable

Factors that influence the cost, can be divided in service adjustments (for example quantity and quality of assets, and quality of curation services) and in economic adjustments (such as inflation/deflation, depreciation/amortization, and interest [discount rates]). [Source: 4C]

Curation Costs Exchange (CCEx)

The CCEx is intended to be an online, virtual community platform for the exchange of curation cost information. The CCEx will be used to gather cost information from partner organisations and stakeholders, submitted to the exchange using a Submission Form/Template. The form will aim to capture calculation processes, metrics, effort statistics, value calculations, from stakeholders in order to underpin future activity with empirical knowledge. [Source: The CCEx is a new concept and the finer details are yet to be decided based on the outcomes of consultations with stakeholders and an analysis of partner organisation cost data. The absence of a ‘complete definition’ provides us with a great opportunity to develop an information ‘framework’ which is really useful to its ultimate users, provided we listen first and that all 4C partner organisations help us with this. The definition to be developed further throughout the project.]

D

Demand

Economics: (1) Desire for certain good or service supported by the capacity to purchase it. (2) The aggregate quantity of a product or service estimated to be bought at a particular price. (3) The total amount of funds which individuals or organizations want to commit for spending on goods or services over a specific period. [Source: http://www.businessdictionary.com]

Demand (alternative 1)

The amount of a particular economic good or service that a consumer or group of consumers will want to purchase at a given price. The demand curve is usually downward sloping, since consumers will want to buy more as price decreases. Demand for a good or service is determined by many different factors other than price, such as the price of substitute goods and complementary goods. In extreme cases, demand may be completely unrelated to price, or nearly infinite at a given price. Along with supply, demand is one of the two key determinants of the market price. [Source: InvestorWords.com]

Depreciation

A mechanisms for distributing capital costs over the estimated useful lifetime of a tangible asset to indicate how much of the asset’s value has been used. [Source: 4C]

Digital curation

Digital curation involves maintaining, preserving and adding value to digital research data throughout its lifecycle. [Source: http://www.dcc.ac.uk/digital-curation/what-digital-curation]

Digital curation (alternative 1)

Digital curation involves selection and appraisal by creators and archivists; evolving provision of intellectual access; redundant storage; data transformations; and, for some materials, a commitment to long-term preservation. [Source: Lee & Tibbo, 2007, Digital Curation and Trusted Repositories: Steps Toward Success http://journals.tdl.org/jodi/index.php/jodi/article/view/229/183]

Digital curation (alternative 2)

Digital curation is the selection, preservation, maintenance, collection and archiving of digital assets. [Source: https://en.wikipedia.org/wiki/Digital_curation]

Digital curation (alternative 3)

Digital curation is a series of repository activities including ingest, data management, (archival) storage, preservation planning, access, common services, repository administration, as well as pre-repository (production and pre-ingest (appraisal, selection, preparation, rights), post-repository, and management activities. [Source: 4C]

Digital preservation solution/storage vendors

Companies with products in the area of digital preservation, e.g. storage vendors, software providers [Source: see p. 6 in Stakeholder registry]

Direct costs

Costs associated with resources used for performing digital curation activities (for example costs of acquisition of storage media, costs of adding metadata), where the amount of resources spent can be directly measured. Also known as variable costs. [Source: 4C]

Disposition

Principle of Disposition: An organization shall provide secure and appropriate disposition for records and information that are no longer required to be maintained by applicable laws and the organization’s policies. [Source: ARMA, http://www.arma.org]

Dissemination

As opposed to communication, dissemination describes the one way process of issuing information, without seeking or receiving communication in return. [Source: 4C]

E

Economic model

A collection of assumptions, often expressed as equations relating variables, from which inferences can be derived about economic behavior and performance. [Source: InvestorGuide.com]

Economic model (alternative 1)

A representation that describes how economic processes around digital curation work; including the flow of resources (costs and revenues) within the economic lifecycle of digital information assets, and stakeholders interaction with this lifecycle. [Source: 4C]

Economic model (alternative 2)

Stylized representations of how economic processes work. They are a means to abstract an economic process down to the essential details that are important for 1) understanding how the process works, and 2) identifying the aspects of the process that can be influenced by outside intervention, such as public policy. [Source: Blue Ribbon Task Force Interim Report, Sustaining the Digital Investment: Issues and Challenges of Economically Sustainable Digital Preservation, 2008, p. 29]

Economies of scale

Refers to a situation in which the average cost of producing a good (or service) declines as the scale of production increases. This could happen, for instance, if a firm can buy in bulk, taking advantage of lower unit costs on its inputs, or by allowing more specialization of its workforce, allowing each worker to become more efficient. Economies ofscale occur because the organization can spread its fixed costs over a larger and larger level of output as it expands in scale. If a particular industry experiences economies of scale, this suggests that one very large firm can produce the product at a lower average cost than a number of smaller firms could. [Source: Blue Ribbon Task Force Interim Report, Sustaining the Digital Investment: Issues and Challenges of Economically Sustainable Digital Preservation, 2008, p. 23]

Economies of scale (alternative 1)

The reduction in long-run average and marginal costs arising from an increase in size of an operating unit (a factory or plant, for example). Economics of scale can be internal to an organization (cost reduction due to technological and management factors) or external (cost reduction due to the effect of technology in an industry). [Source: http://www.businessdictionary.com]

Economies of Scope

Refers to a situation in which the average cost of production is lower when an organization produces a wider range of products, rather than just one. This occurs because inputs can be spread over several different products rather than allocated to just one product. For example, building a range of different collections may lead to reduced costs per document, because activities such as metadata creation, web development, and storage can be shared across the collections. [Source: Blue Ribbon Task Force Interim Report, Sustaining the Digital Investment: Issues and Challenges of Economically Sustainable Digital Preservation, 2008, p. 23]

Effectiveness

The degree to which objectives are achieved and the extent to which targeted problems are solved. In contrast to efficiency, effectiveness is determined without reference to costs and, whereas efficiency means "doing the thing right", effectiveness means "doing the right thing." [Source: http://www.businessdictionary.com]

Efficiency

The comparison of what is actually produced or performed with what can be achieved with the same consumption of resources (money, time, labor, etc.). It is an important factor in determination of productivity. [Source: http://www.businessdictionary.com]

Efficiency (alternative 1)

Refers to a situation in which one is producing a good or service at the lowest cost possible, everything else being equal. The "everything else being equal" clause is quite important. If, for instance, the price of one of the resources used to produce the good goes down, the resulting cost decrease does not indicate an increase in efficiency. Likewise, if one is able to reduce the cost of production by reducing the quality of the good, this is not an increase in efficiency. If, however, one can find a new technique that allows one to produce the same, identical good at a lower cost, (with no changes in the price of inputs in the market having taken place) an increase in efficiency will have occurred. Efficiency is not the same as cheap In many cases, the most efficient way to produce is still very expensive [Source: Blue Ribbon Task Force Interim Report, Sustaining the Digital Investment: Issues and Challenges of Economically Sustainable Digital Preservation, 2008, p. 23]

Ex-ante (future costs)

Ex-ante (future costs) is defined as a way to forecast the results of a particular action, or series of actions. [Source: http://en.wikipedia.org/wiki/Ex-ante]

Ex-post (past costs)

Past/current costs (ex-post) are the decryption of past expenses based on facts. [Source: 4C]

Extensible framework interview template

A framework for in-depth interviews and mini-consultations with stakeholder groups ; starting with questions based on the ones from the initial consultation; to be enriched during the project lifetime correspondent to the process of the needs and requirements of the workpackages as well as the stakeholder groups [Source: 4C]

F

Financial information

All types of information necessary for financial management (accounting, budgeting, and charging). It includes factual data on the cost (e.g. labour, materials and overhead), additional information describing what is being costed (e.g. assumptions and specifications), as well as information that relates to the benefits and value that the digital curation activities accrue and how these incentives influence economic behaviour and performance. [Source: 4C]

Fixed costs

Costs, which do not vary with the amount of production. Often the same as indirect costs. [Source: 4C]

Focus group

Specially organized meeting for every stakeholder group to understand their needs and requirements as well as to gain a better understanding of their views on nature of cost, benefit value, sustainability etc.; ideally attached to a key event [Source: see p. 8 in Description of Work (DoW) for this project]

Full- time equivalent (FTE)

A unit that indicates the workload of a worker by expressing the ratio of the total number of paid hours during a period by the number of working hours in that period. Also known as annual work unit (AWU). Used to make workloads comparable. [Source: 4C]

G

Governance

The discipline of monitoring, managing, and steering a business (or IS/IT landscape) to deliver the business outcome required. [Source: TOGAF]

I

Impact

Impact refers to the higher order effects, generally medium and long-term, produced by a project or program. The impacts can be intended or unintended, positive and negative. [Source: D4.1]

Indirect costs

Costs incurred by the usage of shared resources, such as general management and administration or common facilities and systems, where it has not been possible to distribute the cost on specific activities. Also known as residual cost or overhead. [Source: 4C]

Indirect economic Determinant

Indirect economic determinants are management tools that can be applied in any organisation to help ensure sustainable digital curation. [Source: D4.1]

Industry

Companies that deal with a great amount of data, e.g. automotive, aviation, banks & finance, bioinformatics, cartography, defense industry, pharmaceutical, space [Source: see p.6 in Stakeholder registry]

Information asset

Any information that represent value to stakeholders [Source: 4C]

Innovation

Innovation refers to the use of a better and, as a result, novel idea or method [and is about] doing something different[ly] rather than doing the same thing better. [Source: D4.1]

Integrity

Principle of Integrity: An information governance program shall be constructed so the information generated by or managed for the organization has a reasonable and suitable guarantee of authenticity and reliability. [Source: ARMA, http://www.arma.org]

Internal Review

the process by which an organisation undertakes a review of the controls within a standard to develop a statement of applicability (defining which controls do, and do not apply, and thus either within or beyond the scope of the audit). [Source: D4.3]

Interoperability

IEEE defines interoperability as the ability of two or more systems or components to exchange and use information. [Source: Addressing Digital Preservation: Proposals for New Perspectives, 2009, pg 1 http://cs.harding.edu/indp/papers/barateiro7.pdf]

Interoperability (alternative 1)

1. The ability to share infor mation and ser vices. 2. The ability of two or more systems or components to exchange and use infor mation. 3. The ability of systems to provide and receive ser vices from other systems and to use the ser vices so interchanged to enable them to operate effectively together. [Source: TOGAF]

Investment costs

See capital costs. [Source: 4C]

K

Key Message

The main object/purpose of 4C communications to targeted stakeholder groups. [Source: 4C]

L

Labour costs

Cost of wages paid to workers. [Source: 4C]

Law of supply and demand

The common sense principle that defines the generally observed relationship between demand, supply, and prices: as demand increases the price goes up, which attracts new suppliers who increase the supply bringing the price back to normal. However, in the marketing of high price (prestige) goods, such as perfumes, jewelry, watches, cars, liquor, a low price may be associated with low quality, and may reduce demand. [Source: http://www.businessdictionary.com]

M

Meta-model

"Metamodeling" is the construction of a collection of "concepts" (things, terms, etc.) within a certain domain. A model is an abstraction of phenomena in the real world; a metamodel is yet another abstraction, highlighting properties of the model itself. [Source: Wikipedia.]

Model (alternative 1)

A representation of a subject of interest. A model provides a smaller scale, simplified, and/or abstract representation of the subject matter. A model is constructed as a ‘‘means to an end’’. In the context of enter pr ise architecture, the subject matter is a whole or par t of the enter pr ise and the end is the ability to construct ‘‘views’’ that address the concerns of particular stakeholders; i.e., their ‘‘viewpoints’’ in relation to the subject matter. [Source: TOGAF]

N

Non cost data

That does not contain any cost information but which includes significant facts necessary in describing what is being costed. For example, assumptions, schedules, specifications, technical descriptions, etc. [Source: http://www.businessdictionary.com]

Numerical values

Values are numerical, boolean, ordered lists that are assigned to a parameter or the result of a function [Source: 4C]

O

One-time costs

See capital costs. [Source: 4C]

Operating costs

See recurring costs. [Source: 4C]

Organization

A self-contained unit of resources with line management responsibility, goals, objectives, and measures. Organizations may include exter nal par ties and business par tner organizations. [Source: TOGAF]

P

Parameter

Definable, measurable, and constant or variable characteristic, dimension, property, or value, selected from a set of data (or population) because it is considered essential to understanding a situation (or in solving a problem). [Source: http://www.businessdictionary.com]

Parameter (alternative 1)

The term is used to identify a characteristic, a feature, a measurable factor that can help in defining a particular system. Examples of parameters in cost modelling: investment cost; operational cost; number of files; data volume; number of redundant copies [Source: http://en.wikipedia.org/wiki/Parameter]

Parameter (alternative 2)

Values, often but not necessarily numerical, that enable quantification to be introduced into the outputs based on values of the inputs [Source: APARSEN-REP_D32_1-01-1_0, p. 11]

Performance Indicator

A unit of measurement designed to evaluate the success of its associated activity [Source: 4C]

Periodic cost

Cost that are repeated and incur at intervals (for example some licenses). Also known as term cost. [Source: 4C]

Post-audit surveillance

formal continuous assessment of conformity and improvement by independent parties, at scheduled times. Post-audit surveillance is generally a precondition of continued certification. [Source: D4.3]

Pre-ingest

Each of these activities within the overall audit and certification process should be able to have a cost attached to them. [Source: 4C]

Preparation process

creating a statement of applicability listing all controls in the standard and listing the existing evidence to support each of the applicable controls in the standard. [Source: D4.3]

Preservation action

A preservation action is a concrete action (usually implemented by a software tool) performed on content in order to achieve preservation goals. For example, a migration of content to a different representation using a certain tool in a certain configuration and environment; the replacement of a viewer; the execution of a legacy viewer in an emulation environment... Preservation actions are thus the main object of interest for planning, which has to find the best action among a number of choices. A composite Preservation Action may consist of elementary Preservation Actions and may include conditional branches and other control-flow constructs (e.g. in an executable workflow) [Source: From the SCAPE glossary]

Preservation characterisation

The process of extracting properties/features from content that are perceived of interest and documenting in a structured form. [Source: From the SCAPE glossary]

Preservation plan

A preservation plan defines a series of preservation actions to be taken by a responsible institution due to an identified risk for a given set of digital objects or records (called collection). The Preservation Plan takes into account the preservation policies, legal obligations, organisational and technical constraints, user requirements and preservation goals and describes the preservation context, the evaluated preservation strategies and the resulting decision for one strategy, including the reasoning for the decision. It also specifies a series of steps or actions (called preservation action plan) along with responsibilities and rules and conditions for execution on the collection. Provided that the actions and their deployment as well as the technical environment allow it, this action plan is an executable workflow definition. [Source: From the SCAPE glossary]

Proposition

Unique/bespoke combination of communication activities and messages directed at a particular stakeholder group. [Source: 4C]

Protection

Principle of Protection: An information governance program shall be constructed to ensure a reasonable level of protection for records and information that are private, confidential, privileged, secret, classified, or essential to business continuity or that otherwise require protection. [Source: ARMA, http://www.arma.org]

Q

Quality

An encompassing term comprising utility, objectivity, and integrity. [Source: D4.1]

Quality assurance

The process of measuring properties of renderings/performances of content (by analysing the content, by simulating a rendering, or by other means....), comparing renderings and delivering measures of similarity according to specified criteria of interest in a structured form. [Source: From the SCAPE glossary]

R

Recurring costs

On going cost (such as from consumption of media, energy and labour). Also known as running cost or operating cost. [Source: 4C]

Reference Model

An abstract framework for understanding significant relationships among the entities of some environment, and for the development of consistent standards or specifications supporting that environment [Source: OASIS - Advancing Open Standards for the Information Society - https://www.oasis-open.org/committees/soa-rm/faq.php]

Reference Model (alternative 1)

A reference model is an abstract framework for understanding significant relationships among the entities of [an] environment, and for the development of consistent standards or specifications supporting that environment. A reference model is based on a small number of unifying concepts and may be used as a basis for education and explaining standards to a non- specialist. A reference model is not directly tied to any standards, technologies, or other concrete implementation details, but it does seek to provide common semantics that can be used unambiguously across and between different implementations. [Source: TOGAF (build upon the OASIS definition)]

Reputation

Reputation is a component of identity as defined by others. It is a tool to predict behaviour based on past actions and characteristics. [Source: D4.1]

Resource costs

Cost associated with a particular type of resource - capital or labour. [Source: 4C]

Retention

Principle of Retention: An organization shall maintain its records and information for an appropriate time, taking into account its legal, regulatory, fiscal, operational, and historical requirements. [Source: ARMA, http://www.arma.org]

Risk

Risk is the potential that a chosen action or activity (including the choice of inaction) will lead to a loss (an undesirable outcome). The notion implies that a choice having an influence on the outcome sometimes exists (or existed). Potential losses themselves may also be called "risks". Any human endeavor carries some risk, but some are much more risky than others. [Source: http://en.wikipedia.org/wiki/Risk]

Risk (alternative 1)

A potential impact that indicates the possibility of loss, injury, disadvantage, or destruction [Source: OMG Business Motivation Model]

Risk (alternative 2)

The effect of uncertainty on objectives [Source: ISO73:2009]

Running costs

See recurring costs. [Source: 4C]

S

Self-Assessment

an informal assessment of conformity by the organisation under observation. (The term self-audit is often used by organisations incorrectly). The results should provide a self-assessed statement of conformity to each ‘control’ thereby defining an overall level of conformance. A self-assessment may also result in a Corrective Action Plan whereby the organisation has a record of the actions that it would need to carry out in order to meet the requirements of the standard. [Source: D4.3]

Sensitivity

Confidentiality and assurance that information is held in confidence and protected from unauthorized disclosure. [Source: D4.1]

Skills

Skill is a measure of the amount of worker’s expertise, specialization, wages, and supervisory capacity. [Source: D4.1]

Stakeholder

A person, group or organization that has interest or concern in an organization [Source: http://www.businessdictionary.com]

Stakeholder (alternative 1)

Individuals, groups and institutions active or interested in the issue of curation costs [Source: 4C WP2]

Stakeholder (alternative 2)

On the one side the roles of managers and administrators of digital repositories and other suppliers of curation services; and on the other side the roles of owners, producers and consumers (beneficiaries) of digital assets that have a demand for these services and a willingness to pay for the value that they represent. [Source: 4C]

Stakeholder (alternative 3)

An individual, team, or organization (or classes thereof) with interests in, or concerns relative to, the outcome of the architecture. Different stakeholders with different roles will have different concerns. [Source: TOGAF (http://www.opengroup.org/togaf/)]

Supply

The total amount of a product (good or service) available for purchase at any specified price. Supply is determined by: (1) Price: producers will try to obtain the highest possible price whereas the buyers will try to pay the lowest possible price both settling at the equilibrium price where supply equals demand. (2) Cost of inputs: the lower the input price the higher the profit at a price level and more product will be offered at that price. (3) Price of other goods: lower prices of competing goods will reduce the price and the supplier may switch to switch to more profitable products thus reducing the supply. [Source: http://www.businessdictionary.com]

Supply (alternative 1)

The total amount of a good or service available for purchase; along with demand, one of the two key determinants of price. [Source: InvestorWords.com]

Sustainability

The capacity to endure. [Source: http://en.wikipedia.org/wiki/Sustainability]

Sustainability (Digital)

Having a mechanism in place for generating, or gaining access to, the economic resources necessary to keep the intellectual property or the service available on an ongoing basis [Source: Guthrie, K., Griffiths, R., Maron, N. Sustainability and revenue models for online academic resources: an Ithaka repor(pdf), JISC 2008 - http://sca.jiscinvolve.org/wp/files/2008/06/sca_ithaka_sustainability_report-final.pdf]

Sustainability (Digital) (alternative 1)

Digital sustainability focuses on building a flexible approach to data preservation with an emphasis on interoperability, standards, continued maintenance and continous development. [Source: http://www.sl.nsw.gov.au/services/public_libraries/publications/digital_practice_guidelines/Digital_preservation.html]

T

Transparency

Principle of Transparency: An organization’s business processes and activities, including its information governance program, shall be documented in an open and verifiable manner, and that documentation shall be available to all personnel and appropriate interested parties. [Source: ARMA, http://www.arma.org]

Trustworthiness

Quality of being authentic and reliable. [Source: http://www.businessdictionary.com]

V

Value

Value is something that an information object can intrinsically have, but which may not have any currency with a funding organisation; it is seen through the eye of the beholder. Discovery of what is or is not important to a proposed funding organisation can be made through their organisational objectives or strategic plan. [Source: https://dspace.gla.ac.uk/bitstream/1905/690/1/espida_world_all_strange.pdf]

Value (enduring)

The continuing usefulness or significance of digital resources, based on the administrative, legal, fiscal, evidential, or historical information they contain and function they serve, justifying their on-going preservation. The phrase "enduring value" emphasises the perceived value of the digital resources when they are appraised, recognising that a future selector may reappraise the records and dispose of them. [Source: href="https://www.google.com/url?q=http://www.library.yale.edu/iac/DPC/revpolicy2-19-07.pdf&sa=U&ei=Gn2kUZerB4rvOZXdgJgF&ved=0CBUQFjAGOBQ&client=internal-uds-cse&usg=AFQjCNFZvfyjALFx7jYf_Po4l6jl1iLHhg]

Variable costs

Costs, which vary directly with the amount of production. Often the same as direct costs. [Source: 4C]