International Project Management Association (IPMA) Practice Exam

The difference between an activity's early finish date and its late finish date is known as?

1. Expected Duration

2. Non-productive time

3. The most likely delay

4. Float or slack

The correct answer is: Float or slack

The concept being addressed is known as float or slack, which is a crucial aspect of project scheduling. Float refers to the amount of time that a task can be delayed without causing a delay to subsequent tasks or the project's overall completion date. It is calculated by taking the difference between the late finish date and the early finish date of an activity. Understanding float is essential for project managers because it helps in resource allocation and scheduling flexibility. When project activities are sequenced, some may have flexibility in timing, meaning they can take longer than originally planned without impacting the project's timelines. This allows for more effective management of resources and can provide a buffer in case of unforeseen delays. The other terms do not capture the specific relationship between early finish and late finish dates in the context of project scheduling. Expected duration pertains to the estimated time required to complete an activity, non-productive time refers to time spent that does not contribute to project progress, and the most likely delay does not accurately reflect the calculation of float. Thus, float or slack is the precise term that describes the difference between the early and late finish dates in project management contexts.