PART 2

Question 1

Products or outputs that the project team or contractor will produce and provide to the customer during and at the completion of the performance of the project.

Answer 1

Project Deliverables

Question 2

The amount of time that a specific activity can be postponed without delaying the earliest start time of its immediately succeeding activities.

• Known as free-float
• FS is a relative difference between values of TS, it is always a positive value.

EXAMPLE: the values of TS for activities 5 and 6 are 0 and −8 days, respectively. The lesser of these two values is −8 days for activity 6. The FS for activity 5 is the relative difference between its TS, 0, and −8. This relative difference is 8 days: 0 – (-8) = 8 days. This means that activity 5, “Prepare Mailing Labels,” already has an FS of 8 days and can slip by up to that amount without delaying the ES time of activity 9, “Mail Questionnaire & Get Responses.”

Similarly, the values of TS for activities 7 and 8 are 50 and 60 days, respectively. The lesser of these two values is 50 days. Therefore, activity 8, “Develop Software Test Data,” has an FS of 10 days and can slip by up to that amount without delaying the ES time of activity 10, “Test Software.”

Answer 2

Free Slack

Question 3

latest finish time (LF) minus the earliest finish time (EF) OR latest start time (LS) minus the earliest start time (ES)

Answer 3

Total Slack

Question 4

• is a significant point or event in a project
• It often takes several activities and a lot of work to complete a milestone, but the milestone itself is like a marker to help identify necessary activities
• There is usually no cost or duration for a milestone
• Project sponsors and senior managers often focus on major milestones when reviewing projects
• Symbolized by a Black Diamond

Answer 4

Milestone

Question 5

Includes the actual amount of time spent working on an activity plus elapsed time

• Duration is used to determine schedule
• Effort is used to determine labor costs

EXAMPLE: even though it might take one workweek or five workdays to do the actual work, the duration estimate might be two weeks to allow extra time needed to obtain outside information or to allow for resource availability

Answer 5

Durations of tasks

Question 6

Any path of activities with zero or negative total slack. The series of activities determine the earliest time by which the project can be completed. It is the longest path through the network diagram and has the least amount of slack or float

Is a network diagramming technique used to predict total project duration
The critical path shows the shortest time in which a project can be completed
If one or more of the activities on the critical path takes longer than planned, the whole project schedule will slip unless the project manager takes corrective action

Longest & Shortest

Answer 6

Critical path

Question 7

Earliest time at which a specific activity can begin

Calculated on the basis of the project estimated start time and the estimated durations of preceding activities.

Calculated Forward

Answer 7

Earliest Start (ES) Time

Question 8

How to calculate Earliest Finish (EF) Time?

Answer 8

EF = ES + Estimated Duration

Question 9

the latest time by which a specific activity must be started for the entire project to be finished by its required completion time. It is calculated by subtracting the activity’s estimated duration from the activity’s latest finish time. Calculated backward

Answer 9

Latest start (LS) time

Question 10

How to calculate Latest start (LS) time?

Answer 10

LS = LF – Estimated Duration