Project Management Flashcards
Critical path analysis
A planning technique that identifies all tasks in a project, puts them in the correct sequence and allows for the identification of the critical path.
Critical Path
The sequence of activities that are critical to completing the project on time.
Network Diagram
The diagram used in critical path analysis that shows the logical sequence of activities and the logical dependencies between them.
What does the Critical path analysis show?
It identifies the shortest possible time in which a project can be completed.
What are the activities that must be completed to achieve the shortest time possible called?
The critical path
Total Float
The maximum time an activity can be delayed without delaying the overall project.
Free Float
The maximum time an activity can be delayed without delaying the next activity in the sequence.
Earliest starting time (EST)
The earliest possible time an activity can start relative to the beginning of the project
Latest finish time ( LST )
The latest possible time an activity can finish relative to the beginning of the project.
Why do projects fail?
Customers not involved inadequate resources Poor senior management specifications keep changing Project overtaken by events Incompetent project team
Total Float formula
LST - Duration - EST
Free Float formula
EST - duration - EST
TIP: Critical activities all have zero float
