Chapter 13 - Aggregate Planning

Project

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

Project management

The process of planning, organizing, and managing resources to accomplish a specific project goal.

Project life cycle

The phases a project goes through: initiation, planning, execution, monitoring, and closure.

Work breakdown structure (WBS)

A hierarchical breakdown of a project into smaller, manageable components.

Critical path

The longest path through a project network; determines the shortest time to complete the project.

Activity

A specific task or set of tasks that consumes time and resources.

Event

A point in time signifying the start or completion of one or more activities.

Predecessor activity

An activity that must be completed before another activity can start.

Successor activity

An activity that cannot start until another activity is completed.

Gantt chart

A visual project schedule showing activities over time.

Network diagram

A graphical representation of a project’s activities and their dependencies.

Forward pass

A calculation to determine the earliest start and finish times for activities.

Backward pass

A calculation to determine the latest start and finish times for activities.

Early start (ES)

The earliest time an activity can begin without delay.

Early finish (EF)

The earliest time an activity can finish.

Late start (LS)

The latest time an activity can begin without delaying the project.

Late finish (LF)

The latest time an activity can finish without delaying the project.

Slack (float)

The amount of time an activity can be delayed without affecting the project completion date.

Crashing

Shortening the project duration by adding resources to critical path activities.

Fast tracking

Performing activities in parallel that were originally planned in sequence.

Project scope

The work required to complete a project.

Project charter

A document that authorizes the project and outlines objectives and stakeholders.

Project sponsor

The person or group who provides resources and support for the project.

Milestone

A significant event or checkpoint in a project.

Resource leveling

A technique to smooth out resource usage by delaying or splitting activities.

Risk management

The process of identifying, analyzing, and responding to project risks.