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EST (Forward Pass)

Maximum {EFT value of all immediate predecessors}

EFT (Forward Pass)

EST + Activity Time

LFT (Backward Pass)

Minimum {LST of all immediate following activities}

LST (Backward Pass)

LFT - Activity Time

Slack

LST - EST

OR

LFT - EFT

a

optimistic time

m

most likely time

b

pessimistic time

expected activity time (t)

t = (a + 4m + b) / 6

variance of activity completion time

\[ (b-a) / 6 \]^2

standard deviation

(b-a)/6

OR sq root variance

Project Variance

the sum of all variances of activities on the critical path

Z

(target completion time - expected completion time)/ project standard deviation

determining project completion time for a GIVEN probability

Target completion time = Expected completion time + Z x Project standard deviation

value of work completed

percentage of work completed x activity budget

cost difference

actual cost - value of work completed

crash cost per period

(Crash Cost - Standard Cost)

\-------------------------------

(Standard Time - Crash Time)

Ti

Time at which activity i starts

Ci

Number of periods (weeks, in this case) by which activity i is crashed