This is hardly a matter of surprise when one considers that they both share many of the same objectives, techniques and application areas.
All you need to know is the right formula, and have a good understanding of the basic concepts to apply the formula in the right way. They mean the same thing.
Total Float or Slack: This is the amount of time an activity can be delayed, without impacting the early start date of its successor. For this to happen, you need to have 2 or more activities having a common successor.
There is a third kind of Float, called the Project Float. A customer asks you to Setup a Booth for an upcoming exhibition, which opens on November 1 this year.
You need 4 days to setup the booth. If now we are in August, you have 2 full months 60 Days to Complete this Project, but you need only 4 days. Is Float Good or Bad? Having some float or slack on the project is actually good for the project. If the Float is Zero, then the Project is very risky.
Any single point of failure, and the entire project can be delayed. The risk on the project then becomes quite high. This means that these activities CAN NOT be delayed, and if there is any delay, then the entire project will get delayed.
Therefore, a Project Managers needs to focus all the attention on activities on the critical path, and near critical path.
There are 2 ways to calculate Float, and the answer is the same with either method. Both formulas start with LATE. You can use Late Start or Late Finish. Just remember this, and you can get this formula correct. Many questions need you to calculate Float.
Others may simply state the Float, and then ask you to interpret it. For the Barracuda project, you have a early start of 3, late start of 5 and early finish of What is the float of the Project? In this case, we do not need all the three values.
Float can simply be calculated as Late Start 5 — Early Start 3.
So the answer is 2. This is a positive number, and gives you a bit of a breather… Mind you, Float can be negative too.
In this case, the activities are already at risk of delaying the successor activities and the entire project. Hope this gives you an idea of the concept of Float. These questions are easy to attempt in the PMP Exam, if you know the basics well.
Are you aware of the changes? Please check out my detailed post about this. Check out the Lesson Plan here.
Your email address will not be sold or shared with anyone else.10 Project Management with PERT/CPM One of the most challenging jobs that any manager can take on is the management of a large-scale project that requires coordinating numerous activities throughout the organi-.
Ford Speak: Acronyms, Definitions, and Terms. This booklet contains the Acronyms and Terms available on-line as part of the Information Management .
Acceptance Criteria — [Project Quality Management] the factors the deliverables must be met before they will be formally accepted. Topics in operations, including business processes, linear programming, and project management.
How to calculate Float or Slack in PMP questions. Concept of Total Float, Free Float and Project Float explained at schwenkreis.com About this course: Learners will discover the key project scheduling techniques and procedures including; how to create a network diagram, how to define the importance of the critical path in a project network, and defining project activities schwenkreis.com covered are the fundamentals of Bar Charts, Precedence Diagrams, Activity on Arrow, PERT, Range Estimating, and linear project operations .