Late Start and Late Finish Dates
Late Start (LS) and Late Finish (LF) dates indicate the latest possible times an activity can start and finish without delaying the overall project, respectively. Computed from the project end towards the start, they provide a deadline for each task. By comparing the LS and LF with the ES and EF, project managers can determine each activity’s ‘float’ or ‘slack.’ LS and LF are instrumental in identifying and managing potential problems and risks.
Guide to Understanding Late Start and Late Finish Dates in Critical Path Method
1. What are Late Start and Late Finish Dates?
Late Start and Late Finish Dates in Critical Path Method (CPM) are project management tools utilized to identify the latest possible time a project activity can start or end without delaying the project schedule.
2. Why is it Important?
Understanding these concepts is crucial as they allow project managers to schedule activities in a flexible manner without affecting the overall timeline of the project. They aid in efficient resource allocation and risk management.
3. How does it work?
The 'Late Start' date for an activity is calculated by subtracting its duration from its 'Late Finish' date. Subsequently, the 'Late Finish' date is determined by taking the minimum of the Late Start dates of all subsequent activities minus 1.
For the last activity, the 'Late Finish' date is the same as its 'Early Finish' date. The process is iterated backwards from the last activity to the first.
4. How to Answer Questions on Late Start and Late Finish Dates?
a. Understanding the Question: Be sure to understand the context and the data provided in a problem related to Late Start and Late Finish Dates. This often involves identifying the activities, their durations, and interdependencies.
b. Application: Apply the methods of calculating the Late Start and Late Finish dates as per the process described above. Be thorough with the procedure and calculations to arrive at the correct answers.
c. Verification: Ensure that you verify your answers by cross-checking whether your calculated Late Start of an activity is not before the Late Finish of its predecessor activity. Your Late Finish Dates should also not exceed the project duration.
5. Exam Tips:
- Practice solving problems on Late Start and Late Finish Dates to understand the calculations. The more you practice, the better you'll get at them.
- Write your steps clearly in the exam, this will help you get partial credit even if your final answer is incorrect.
- Keep track of time. Given the numerical aspect of these problems, they can be time-consuming. Therefore, manage your time wisely.
Go Premium
Certified Associate in Project Management Preparation Package (2024)
- Earn 15 PDUs needed for your CAPM certification
- 4454 Superior-grade Certified Associate in Project Management practice questions.
- Accelerated Mastery: Deep dive into critical topics to fast-track your mastery.
- Unlock Effortless CAPM preparation: 5 full exams.
- 100% Satisfaction Guaranteed: Full refund with no questions if unsatisfied.
- Bonus: If you upgrade now you get upgraded access to all courses
- Risk-Free Decision: Start with a 7-day free trial - get premium features at no cost!