Shedule Management Flashcards
Law of Diminishing Returns
An economic principle stating that as investment in a particular area increases, the rate of profit from that investment, after a certain point, cannot continue to increase if other variables remain at a constant.
Student Syndrome
planned procrastination, when, for example, a student will only start to apply themselves to an assignment at the last possible moment before its deadline. This eliminates any potential safety margins and puts the person under stress and pressure.
Parkinson’s Law
describes the tendency that people will spend all of the allocated time to complete a task regardless of the time it actually takes to complete it. Likewise, a person will not complete a task before a deadline, resulting in inefficient use of resources and time.
PERT Estimate
Program Evaluation Review Technique = (p+4ml+o)/6
Free float
represents the amount of time that a schedule activity can be delayed without delaying the early start date of any immediate successor activity within the network path.
Total float
the amount of time that a task can be delayed without affecting the completion date of the project.
Crashing
adding more resources to accelerate the project timeline .
Fast tracking
the practice of concurrently completing tasks that would normally be completed sequentially.
Rolling wave planning
technique that assists managers in concentrating on short-term objectives and creating adjustments while keeping the overall picture in mind. It’s an iterative approach to work, with the planning and execution taking place in specified, scheduled waves.
Activity attributes
descriptive components of an activity. Examples of these attributes are the activity name, description, responsible person, resources required, type of effort, location, predecessor activities and successor activities. September 03, 2022 / Steven Bragg/
