Managerial Ch. 14

Network Diagram

A graphical tool that shows the logical linkages between activities in a project

Gantt Chart

A graphical tool used to show expected start and end times for project activities actual progress against these time targets

Network Path

A logically linked sequence of activities in a diagram

Critical Path

A network path that has the longest, or is tied for the longest, linked sequence of activities

Milestone

A performance or time target for each major group of activities in a project

Critical Path Method (CPM)

A single time estimate for each activity

Project

A temporary endeavor undertaken to create a unique product, service, or result

Activity-on-Node (AON)

Each activity is represented by a node, or box, and the precedence relationships between various activities are represented with arrows

Planning Phase

Entails preparing detailed plans that identify activities, time budget targets, and the resources needed to complete each task

Slack Time

Indicates the amount of allowable delay

Critical Activity

Project activity for which the earliest start time and lastest start time are equal. Cannot be displayed without lengthening the overall project duration

Concept Phase

Project planners develop a broad definition of what the project is and what its scope will be

Project Definition Phase

Project planners identify how to accomplish the work, how to organize for the project, the key personnel and resources required to support the project, tentatice schedules, and tentative budget requirements

Crashing

Shortening the overall duration of a property by reducing the time it takes to perform certain activites

Project Management

The application of knowledge, skills, tools, and techniques to project activites to meet project requirements

Forward Pass

The determination of the earliest start and finish times for each project activity

Backward Pass

The determination of the latest finish and start times for each project activity

Earliest Finish Time (EF)

The earliest an activity can be finished, calculated by adding the activity's duration to its earliest start time

Earliest Start Time (ES)

The earliest an activity can be started, as determined by the earliest finish time for all immediate predecessors

Latest Finish Time (LF)

The latest an activity can be finished and still finish the project on time, as determined by the lastest start time for all immediate successors

Latest Start Time (LS)

The latest an activity can be started and still finish the project on time, calculated by subtracting the activity's duration from its lastest finish time

Perfomance phase

The organization actually starts to execute the project plan

Program Evaluation and Review Technique (PERT)

Multiple time estimate for each activity

Postcompletion Phase

The "wrap-up" phase of project in which the manager or team confirms a postimplementation meeting to critique the project and personnel, and reassigns project personnel