The term "standardized recipe" is most often used in a business context and more specifically, in facilities which provide regular meals for a group of people. Examples include adult- or child- day care or food distribution in a medical setting.
Standardized recipes must follow a specific (standard) format put in place by a facility. Though they may vary slightly from one facility to another, they generally include the same list of information. Ideally, when directions are followed perfectly, the recipe will yield the exact same product and portion no matter who prepares the food. Standardized recipes keep things consistent, which benefits a facility in terms of cost effectiveness and budgeting, efficiency and ease of record keeping, and maintenance of any federal (or other) regulations required.
The term "yield" typically refers to the amount of food which results from preparation. An example might be that one cup of dry rice yields four, half-cup servings. When using a standardized recipe, the yield should be exact and should come out the same every time. This is important for planning purposes such as figuring out how to feed a certain number of people. It is also an important factor in budgeting and ordering food and ingredients. Finally, if a standardized recipe is prepared and the yield is wrong at the end, it shows that the food preparer has made a mistake.