Time Management (26) Flashcards
Early Finish =
Early Start + Duration - 1
Early Start =
Early Finish Predecessor + 1
Late Start =
Late Finish - Duration + 1
Late Finish =
Late Start Successor - 1
Free Float =
Early Start Successor - Early Finish - 1
Total Float =
Late Finish - Early Finish
When does Activity 1 start?
On day #1
With lag greater than zero, first calculate the link as if…
It has no lag and then add the lag time.
For the last activity that has no successor, Early Finish will equal =
Late Finish. (Early Finish = Late Finish = End of Project)
The duration difference between Late Finish and Early Finish is called
Total Float
Total Float is sometimes referred to as:
Slack
Free float is the amount of time an activity can be delayed without delaying:
The ES date of a successor activity.
Total float is the number of days an activity can be delayed without delaying:
The project end date
Free Float is calculated by comparing:
The activity’s EF to the ES of its Successor
FF = ESs – EF
Total Float is calculated by comparing:
The number of days between the late or early dates for each activity
TF = LF - EF = EF - ES
Schedule Performance Index measures the ratio of how much work was done to how much work was planned (scheduled).
SPI = Earned Hours (or $ to date) ÷ Budgeted Hours (or $ to date)
SPI = EV/PV
SPI = EV/PV
You are the program manager for a city’s public school system. Your budget is $5 million to renovate 11 elementary schools this year. Each school is approximately the same size and requires the same level of effort and materials. Halfway through the year, renovations are complete on 7 schools, but your schedule only anticipated 5 at this point. What is your current SPI?
SPI = Earned Hours (or $ to date) ÷ Budgeted Hours (or $ to date)
SPI = EV/PV
SPI = 7 schools complete / 5 schools = 1.4
Project is 40% ahead of schedule
SPI = EV/PV
The project is scheduled to last 8 months. During that 8 months, 200,000 units of a product must be made.
What is the PV? (200,000 units divided by 8 months = 25,000 units per month)
What is the PV at 2 months? By 2 months how much should be complete per PV? (2 mo x 25,000 units per month = 50,000 units)
EV = How much has the contractor actually done? (40,000 units after 2 months)
Formula: SPI = EV/PV
SPI = 40,000 / 50,000 = .8
SPI of .8 = (80%) performance
This indicates that the project is behind schedule and needs to increase production by 20%.
Interpreting Schedule Performance Index (SPI)
Less than 1 is behind schedule
More than 1 is ahead of schedule