Glossary of PM Terms
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- Labor Rate Variances
- Difference between planned labor rates and actual labor rates.
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- Ladder
- A sequence of parallel activities connected at their starts or finishes, or both.
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- 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.
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- Late Dates
- Calculated in the backward pass of time analysis, late dates are the latest dates on which an activity can start and finish.
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- Late Event Date
- Calculated from backward pass, it is the latest date an event can occur.
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- 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.
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- 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.
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- Leadership
- Getting others to follow direction.
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- 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.
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- Leveling
- See Resource Leveling.
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- Life-Cycle Costing
- When evaluating alternatives, Life-Cycle Costing is the concept of including acquisition, operating and disposal costs.
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- Likelihood
- Assessment of the probability that a risk will occur.
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- Line Manager
- The manager of any group that makes a product or performs a service.
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- Link
- See Logical Relationship.
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- Links
- See Dependency Links.
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- Logic
- See Network Logic.
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- Logic Diagram
- See Project Network Diagram.
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- Logic Link
- See Dependency Links.
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- Logic Loop
- A circular sequence of dependency links between activities in a network.
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- Logical Relationship
- A logical relationship is based on the dependency between two project activities or between a project activity and a milestone.
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- Loop
- In networks, a set of symbols indicating that one or more activities are mutually dependent.
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