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| Feasibility Study
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A document that confirms the likelihood that a range of alternative solutions will meet the requirements of the customer.
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| Financial Planning
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The process of identifying, quantifying and scheduling the financial resources required to undertake a project.
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| Finish Float
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Finish float is the amount of excess time an activity has at its finish before a successor activity must start. This is the difference between the start date of the predecessor and the finish date of the current activity, using the early or late schedule. (Early and Late dates are not mixed.) This may be referred to as slack time. All floats are calculated when a project has its schedule computed.
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| Finishing Activity
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A finishing activity is the last activity that must be completed before a project can be considered finished. This activity is not a predecessor to any other activity -- it has no successors. Many PM software packages allow for multiple finish activities.
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| Finish-To-Finish Lag
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The finish-to-finish lag is the minimum amount of time that must pass between the finish of one activity and the finish of its successor(s). If the predecessor's finish is delayed, the successor activity may have to be slowed or halted to allow the specified time period to pass. All lags are calculated when a project has its schedule computed. Finish-to Finish lags are often used with Start-to-Start lags.
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| Finish-To-Start Lag
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The finish-to-start lag is the minimum amount of time that must pass between the finish of one activity and the start of its successor(s). The default finish-to-start lag is zero. If the predecessor's finish is delayed, the successor activity's start will have to be delayed. All lags are calculated when a project has its schedule computed. In most cases, Finish-to-Start lags are not used with other lag types.
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| Float
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The amount of time available for a task to slip before it results in a delay of the project end date. It is the difference between the task's early and late start dates.
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| Float
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Float is the amount of time that an activity can slip past its duration without delaying the rest of the project. The calculation depends on the float type. See START FLOAT, FINISH FLOAT, POSITIVE FLOAT, and NEGATIVE FLOAT. All float is calculated when a project has its schedule computed.
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| Forced Analysis
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Most PM software can force schedule analysis where a project is re-analyzed even if no new data has been entered. The feature is used for an analysis on the project by itself after it has been analyzed with other projects in multi-project processing (or vice versa). A leveled schedule may also be removed by forcing schedule analysis.
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| Free Float
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Free float is the excess time available before the start of the following activity, assuming that both activities start on their early start date. Free float is calculated in the following way: FREE FLOAT = EARLIEST START OF FOLLOWING ACTIVITY - EARLIEST START OF PRESENT ACTIVITY - DURATION OF PRESENT ACTIVITY On the activity's calendar, free float is the length of time from the end of the activity to the earliest Early Start date from among all of its successors. If the activity has no successors, the project finish date is used. Since free float is meaningless for hammocks, it is set to zero. For the common case where all lags are finish-to-start lags of zero, the free float represents the number of work days that an activity can be delayed before it affects any other activity in the project.
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| Functional Group
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An organizational unit that performs a specialized business function (e.g., design, Human Resource management, etc.) and may provide staff, products or services to a project.
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| Functional Manager
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A manager responsible for the activities of an organizational unit (department, work group, etc.), which provides some specialized products, services or staff to projects. For example, the manager of an engineering group, testing department or procedures development department. Also called a line manager.
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