EVM Glossary, F-L

Refer to this list for definitions of essential earned value management terms submitted by project managers from around the world.

Index: A-E | F-L | M-Q | R-Z

- F -

Fast –Tracking
The process of reducing the number of sequential relationships (FS) and replacing them typically with parallel relationships (SS).

FF Link
See Finish to Finish link.

Filter
A facility allowing subsequent commands to operate only on records that conform to specified criteria.

Finish Date
The actual or estimated time associated with an activity’s completion.

Finish Float
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.

Finishing Activity
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.

Finish-To-Finish Lag
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). All lags are calculated when a project has its schedule computed. Finish-to Finish lags are often used with Start-to-Start lags.

Finish-To-Start Lag
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. 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.

Firm Fixed Price Contract (FFP)
A contract where the buyer pays a set amount to the seller regardless of that seller’s cost to complete the project.

Fixed Date
A calendar date (associated with a plan) that cannot be moved or changed during the schedule.

Fixed-Duration Scheduling
A scheduling method in which, regardless of the number of resources assigned to the task, the duration remains the same.

Fixed Finish
See Imposed Finish.

Fixed Price Contracts
A generic category of contracts based on the establishment of firm legal commitments to complete the required work. A performing contractor is legally obligated to finish the job, no matter how much it costs to complete. Risks of all cost growth rest on the performing contractor.

Fixed Start
See Imposed Start.

Float
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.

Forecast At Completion (FAC)
Scheduled cost for a task.

Forecast Final Cost
See Estimate at Completion.

Forward Pass
A procedure within time analysis to determine the early start and early finish dates of activities.

Fragnet
See Subnet.

Free Float
The maximum amount by which an activity can be delayed beyond its early dates without delaying any successor activity beyond its early dates.

FS Link
See Finish to Start.

Functional Manager (FM)
The person responsible for the business and technical management of a functional group.

Functional Matrix
An organization type where the project has a team leader in each functional department and the products are passed from one team to the next.

Functional Organization
The hierarchical organization of a staff according to their specialty.

Funding Profile
An estimate of funding requirements.

- G -

Gantt (Bar) Chart
A Gantt chart is a time-phased graphic display of activity durations. It is also referred to as a bar chart. Activities are listed with other tabular information on the left side with time intervals over the bars. Activity durations are shown in the form of horizontal bars.

Gantt, Henry
The inventor of the Gantt Chart.

General and Administrative (G&A or GANDA)
A form of indirect expenses incurred for the administration of a company, including senior executive expenses. Such expenses are spread over the total direct and burden costs for the company.

Goal
A one sentence definition of specifically what will be accomplished, while incorporating an event signifying completion.

- H -

Hammocks
A hammock groups activities, milestones, or other hammocks together for reporting. A hammock's milestone number ranges from 95 to 99. This allows for five levels of summation. For example, two hammocks at the 95 level can be combined in a 96 level hammock. Any number of hammocks are allowed within the five levels for a project. Most PM software calculates the duration of a hammock from the early and late dates of the activities to which it is linked.

Hard Zeros
In resource scheduling, there is a distinction made between resource availabilities specified as zero but which can be exceeded under certain circumstances, and hard zeros, which can never be exceeded. Hard zeros may cause an activity to be impossible to schedule, in which case the resource scheduling process may be aborted.

Hierarchical Coding Structure
A coding system that can be represented as a multi-level tree structure in which every code except those at the top of the tree has a parent code.

Highlight Report
A highlight report reviews progress to date and highlights any actual or potential problems. The project manager prepares this report at intervals determined by the project board.

Histogram
A histogram is a graphic display of resource usage over a period of time. It allows the detection of overused or underused resources. The resource usage is displayed in colored vertical bars.

The ideal level for a resource on the screen is indicated by a another color (typically red). (The printed histogram uses a horizontal line to display the maximum usage set in the Resource Label window.) If the resource bar extends beyond the red area for any given day, resources need to be leveled (or spread out) for proper allocation. The resource histograms should be checked after resources are assigned to the project activities.

Holiday
An otherwise valid working day that has been designated as exempt from work.

Hypercritical Activities
Activities on the critical path with negative float. This can be achieved through the imposition of constraints such as target dates.

- I -

Immediate Activity
An activity that can be forced to start on its earliest feasible date by resource scheduling, even if that means overloading a resource.

Impact
The assessment of the adverse effects of an occurring risk.

Impact Analysis
Assessing the pros and cons of pursuing a particular course of action.

Implementation Review or Visit
An initial visit by members of the customer C/SCSC review team to a contractor’s plant to review the contractor’s plans for implementing C/SCSC on a new contract. Such visits should take place within 30 days after contract award.

Imposed Finish
A finished date imposed on an activity by external constraints.

Imposed Start
A start date imposed on an activity by an external constraint.

Indirect Cost
Resources expended which are not directly identified to any specific contract, project, product or service, such as Overhead and G&A.

Individual Work Plan
An individual work plan defines the responsibilities of an individual team member and is the lowest level of a technical plan.

Informal Review
A less formal subset of a quality review.

Information Distribution
Distributing information to stakeholders in a timely manner.

Initiation
Committing the organization to begin a project.

In Progress
An activity that has been started, but not yet completed.

Integrated Baseline Review (IBR)
The newest form of the Department of Defense C/SCSC verification review process in which the technical staff lead the effort to verify that the entire project baseline is in place, together with a realistic budget to accomplish all planned work.

Integrated Cost/Schedule Reporting
See Earned Value.

Integrated Product Development Teams (IPDT)
The development of new products with use of multi-functional teams, who work in unison form the conceptual idea until completion of the product. Integrated product development teams are best contrasted with the traditional form of sequential functional development. Another term for IPDT is Concurrent Engineering.

Integration
The process of bringing people, activities and other things together to perform effectively.

International Project Management Association
A federation of European project management organizations. This does not include PMI or AIPM.

Invitation for Bid (IFB)
Similar to a request for proposal, but often with a more specific application area.

IT Executive Committee
The departmental top management group that is responsible for the overall direction of IT projects.

- K -

Key Event Schedule
See Master Schedule.

Key Performance Indicators
Measurable indicators that will be used to report progress that is chosen to reflect the critical success factors of the project.

KPI
See Key Performance Indicators.

- L -

Labor Rate Variances
Difference between planned labor rates and actual labor rates.

Ladder
A sequence of parallel activities connected at their starts or finishes, or both.

Lag
Lag is the time delay between the start or finish of an activity and the start or finish of its successor(s). See FINISH-TO-FINISH LAG, FINISH-TO-START LAG, and START-TO-START LAG.

Late Dates
Calculated in the backward pass of time analysis, late dates are the latest dates on which an activity can start and finish.

Late Event Date
Calculated from backward pass, it is the latest date an event can occur.

Late Finish
Late Finish dates are defined as the latest dates by which an activity can finish to avoid causing delays in the project. Many PM software packages calculate late dates with a backward pass from the end of the project to the beginning.

Late Start
Late Start dates are defined as the latest dates by which an activity can start to avoid causing delays in the project. Many PM software packages calculate late dates with a backward pass from the end of the project to the beginning.

Leadership
Getting others to follow direction.

Level of Effort (LOE)
Work that does not result in a final product (such as liaison, coordination, follow-up, or other support activities) and which cannot be effectively associated with a definable end product process result. Level of effort is measured only in terms of resources actually consumed within a given time period.

Leveling
See Resource Leveling.

Life-Cycle Costing
When evaluating alternatives, Life-Cycle Costing is the concept of including acquisition, operating and disposal costs.

Likelihood
Assessment of the probability that a risk will occur.

Line Manager
The manager of any group that makes a product or performs a service.

Link
See Logical Relationship.

Links
See Dependency Links.

Logic
See Network Logic.

Logic Diagram
See Project Network Diagram.

Logic Link
See Dependency Links.

Logic Loop
A circular sequence of dependency links between activities in a network.

Logical Relationship
A logical relationship is based on the dependency between two project activities or between a project activity and a milestone.

Loop
In networks, a set of symbols indicating that one or more activities are mutually dependent.