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Exam 1 - Project Time Management
UWO BUS 411
21
Business
Undergraduate 4
10/03/2012

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Term
Project Time Management
Definition
involves the processes required to ensure timely completion of a project. Processes include:
– Activity definition
– Activity sequencing
– Activity duration estimating
– Schedule development
– Schedule control
Term
Mandatory dependencies
Definition
inherent in the nature of the work; hard logic
Term
Discretionary dependencies
Definition
defined by the project team; soft logic
Term
External dependencies
Definition
involve relationships between project and non-project activities.
Term
Activity Duration
Definition
includes the actual amount of time worked on an activity plus elapsed time
Term
Schedule development
Definition
uses results of the other time management processes to determine the start and end date of the project and its activities.
Term
Schedule Development Tools & Techniques
Definition
include Gantt charts, PERT analysis, critical path analysis, and critical chain scheduling.
Term
Critical Path Method (CPM)
Definition
a project network analysis technique used to predict total project duration and is the longest path through the network diagram and has the least amount of slack or float.
Term
CPM Misconceptions
Definition
– The critical path is not the one with all the critical activities; it only accounts for time
– There can be more than one critical path if the lengths of two or more paths are the same
– The critical path can change as the project progresses
Term
Free slack or free float
Definition
The amount of time an activity can be delayed without delaying the early
start of any immediately following activities.
Term
Total slack or total float
Definition
Is the amount of time an activity may be delayed from its early start
without delaying the planned project finish date.
Term
Program Evaluation and Review Technique (PERT)
Definition
a network analysis technique used to estimate project duration when there is a high degree of uncertainty about the individual activity duration estimates.
Term
PERT weighted average formula
Definition

Best Case + 4X most likely + Worst Case


6

Term
Critical Chain Scheduling
Definition
Critical chain scheduling is a method of scheduling that takes limited resources into account when creating a
project schedule and includes buffers to protect the project completion date and assumes resources do not multitask because it often delays task completions and increases total durations.
Term
Buffer
Definition
Is additional time to complete a task
Term
Murphy's Law
Definition
States that if something can go wrong, it will.
Term
Parkinson's Law (Student Syndrome)
Definition
States that work expands to fill the time allowed.
Term
Project Buffer
Definition
Additional time added before the project’s due date.
Term
Feeding Buffers
Definition
Additional time added on the noncritical path, where the noncritical meets the critical path.
Term
Crashing tasks
Definition
Obtaining the greatest amount of schedule compression for the least
incremental cost.
Term
Fast Tracking
Definition
Doing tasks in parallel or overlapping them.
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