MIS 340 Study Guide - Final Guide: Weighted Arithmetic Mean, Longest Path Problem, Critical Path Method

• School: Iowa State University
• Department: Management Information Systems
• Course: MIS 340
• Professor: Townsend Anthony

Document Summary

Activities: a distinct, scheduled portion of work performed during the course of a project. Critical path: the sequence of activities that represents the longest path through a project, which determines the shortest possible duration. Free float: the amount of time that a schedule activity can be delayed without delaying the early start date of any successor or violating a schedule constraint. Finish-to-start: a logical relationship in which a successor activity cannot start until a predecessor activity has finished. Risk: an uncertain event or condition that, if it occurs, has a positive or negative effect on one or more project objectives. Risk management plan: a component of the project, program, or portfolio management plan that describes how risk management activities will be structured and performed. Risk acceptance: a risk response strategy whereby the project team decides to acknowledge the risk and not take any action unless the risk occurs.