What is Gap Analysis?

"Gap Analysis 1. The process of determining, documenting, and approving the variance between business requirements and system capabilities in terms of packaged application features and technical architecture. 2. The process of determining and evaluating the variance or distance between two items’ properties being compared."

 

Found a good site for the IT glossary...

http://uis.georgetown.edu/departments/eets/dw/GLOSSARY0816.html