Risk Management Professional Exam Prep

Category - Risk Management

Jack is concerned about slack. His project at the corporate offices of Taco Shack is catching flack, because it might be off track, and impact his delivery date. Given that, which type of slack best represents the above?
  1. Near critical path float
  2. Total float
  3. Project float
  4. Free float
Explanation
Answer: b - Since Jack’s project’s delivery date is in question, the total float (slack), or amount of time the project can withstand a delay, is impacted. There is no such thing as a near-critical path float. Sorry, we made that up to make you go “Hmmmm.” It sounds like a project management term though, doesn’t it? The project float speaks to the amount of time a project can withstand a delay before it’s externally imposed target date is impacted. The free float concerns the amount of time an activity can withstand a delay before it impacts the following activity.

Key Take Away: We can’t stress enough the importance of knowing how to float - literally and figuratively speaking! Systematically analyze risk to build sufficient (but not excessive) float into your projects to manage risk and delivery date expectations.
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