In my previous article, I have talked about what schedule stands for in Project Management. It has to do with the time each of the activities in a project is going to occur. In this article, I want to look at five notations that we have normally use when we are representing the state of our schedule in a diagram. Therefore in this article, I will be talking about Standard Value Diagramming method.
In Standard Value Diagramming method, the Earliest Start has to do with the earliest time that an activity can start. In the Standard Schedule programming notation, the earliest start for a project is always represented as Zero because the activity is likely to start as soon as possible.
This is the same as the Earliest time that an activity can finish. It is always the time stated as the duration of a Project. All things been equal, this is the time that we expect the activity to finish so that it will not affect the earliest start of the successor project.
This is the latest time that an activity can finish. Once the activity goes beyond the duration set for the late finish, it will affect the late start of the successor activity. This is likely to increase the overall duration of the project.
When looking at the Standard Value Diagramming method, the Late Start is the latest time that an activity can start. The late start for the last activity is the Earliest Finish minus its duration. The late start for any predecessor activity is its Late Finish minus its duration.
This is the number of work period that is needed for an activity to complete. That means how many working hours will it actually take before that activity can complete. Some activities duration will not change no matter the amount of resources that is been applied to the task.
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