Glossary of PM Terms
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- Fast –Tracking
- The process of reducing the number of sequential relationships (FS) and replacing them typically with parallel relationships (SS).
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- Filter
- A facility allowing subsequent commands to operate only on records that conform to specified criteria.
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- Finish Date
- The actual or estimated time associated with an activity’s completion.
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- 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.
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- 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.
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- 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.
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- 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.
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- 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.
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- Fixed Date
- A calendar date (associated with a plan) that cannot be moved or changed during the schedule.
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- Fixed Finish
- See Imposed Finish.
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- 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.
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- Fixed Start
- See Imposed Start.
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- Fixed-Duration Scheduling
- A scheduling method in which, regardless of the number of resources assigned to the task, the duration remains the same.
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- 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.
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- Forecast At Completion (FAC)
- Scheduled cost for a task.
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- Forward Pass
- A procedure within time analysis to determine the early start and early finish dates of activities.
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- 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.
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- Functional Manager (FM)
- The person responsible for the business and technical management of a functional group.
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- 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.
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- Functional Organization
- The hierarchical organization of a staff according to their specialty.
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- Funding Profile
- An estimate of funding requirements.
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