Guide on Float or Slack in Critical Path Method
The term Float or Slack is commonly used in Project Management and especially in the Critical Path Method.
What is Float or Slack?
In the context of the Critical Path Method, float or slack is the amount of time that you can delay a task without a delay in the project. More slack time means the project schedule is more flexible.
Why is it important?
It's important to understand float or slack because it gives you flexibility in managing resources and risks. It allows project managers to make informed decisions on where flexibilities exist and where priorities lie. If a task has a float or slack of zero, it means it is on the critical path and any delay will affect the project's timeline.
How does it work?
The total float or slack time for a task is calculated by subtracting the early start date from the late start date (or the early finish date from the late finish date).
Exam Tips: Answering Questions on Float or Slack
1. Understand the concept of float or slack and its role in project scheduling.
2. Learn how to calculate float or slack time. Remember that it can be computed by subtracting early start date from late start date or early finish date from late finish date.
3. Always read the questions carefully. Look out for words indicating that a task is critical (i.e., has a zero slack) or non-critical.
4. Understand that tasks with more float or slack allow for more flexibility, while tasks with less or zero float or slack are more risk-prone and need to be managed carefully.