Copyright
Wideman Comparative Wideman Comparative Glossary of Common Project Management Terms v5.5 is copyright © R. Max Wideman, 2000-2017.

Please feel free to point to this document. For non-profit purposes you may copy this page provided the above copyright notice is attached. For inclusion in for-profit works, please contact the author at maxw@maxwideman.com

Last updated 12-22-17

Master Glossary
Finish to Finish   - to -   Fog Index
***  prev

Term
Definition     Editor's Choice
Cat Source
Finish to Finish
See Logical Relationship. [D00687]

N

 PMK96
Finish to Finish Lag
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. [D00690]

N

 WST
PMST
Finish to Start
See Logical Relationship. [D00688]

N

  
Finish to Start Lag
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. [D00691]

N

 WST
PMST
Finishing Activity
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. [D00689]

N

 WST
Firewall
A computer, or programmable device, with associated software which can be used to restrict traffic passing through it according to defined rules. Controls would typically be applied based on the origin or destination address and the TCP/IP port number. [D04836]

N
T

 RUP
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 work. [D00694]

FGJ
CHMT

 WST
A contractual form in which the price and fee are predetermined and not dependent on cost. [D00692]

J
CHMT

 SPM p304-9
A lump sum contract where the supplier agrees to furnish goods or services at a fixed price. [D00693]

J
CHMT

 PMK87
A contract that provides for a price that is not subject to any adjustment on the basis of the contractorís cost experience in performing the contract. [D03502]

J
CHMT

 GAT
Firmware
The read only computer instructions resident within hardware. [D04098]

N

 CSM
Software programs contained in read-only memory. [D00695]

N

 SPM p304-9
First In, First Out ("FIFO")
For inventory accounting purposes, the first unit into the inventory is assumed to be the first unit to be drawn out. The inventory value assigned to any unit drawn out is the value of the first unit recorded as still being in inventory. It does not matter which unit is physically drawn out of inventory. See also LIFO. [D03503]

N

 GAT
Fiscal Year
Any 12-month period for financial planning and reporting purposes. [D04099]

N

 CSM
Fishbone Diagram
An analysis tool that provides a systematic way for looking at effects and the causes that create or contribute to those effects. Editor's Note: So called because the diagram looks like the back bone of a fish. [D05361]

N

 MFC
Fixed Asset
Property or equipment, such as machines, buildings, and land, used for the production of goods and services. [D05997]

GJ

 PMTWG
Fixed Cost
Costs that remain constant as production volume varies in the relevant range of production. Fixed cost per unit decreases as total fixed cost is spread over an increasing number of units. [D03504]

GJ
CHM

 GAT
A cost that stays the same over time, such as for materials, regardless of the task duration or how much work a task requires. [D00696]

GJ

 MSP98
Fixed Costs
Costs that do not vary with the volume of activity such as accommodation, insurance, depreciation, security and minimum fees for utilities. [D02318]

GJ

 RMW
Fixed Date
A calendar date (associated with a plan) that cannot be moved or changed during the schedule. [D00697]

GJ

 WST
Fixed Fee
A type of contract in which the fee remains constant irrespective of the amount of work involved. [D02778]

GJ
CH

 RMW
Fixed Finish
See Imposed Finish. [D00698]

FGJ
CHMT

  
Fixed Price
A type of contract in which the amount to be paid is fixed for a specified amount of work or specified deliverables. [D02779]

FGJ
CHMT

 RMW
Fixed Price Contract ("FP")
Same as Firm Fixed Price. [D00699]

FGJ
CHMT

 SPM p304-9
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. [D00700]

FGJ
CHMT

 WST
Fixed Price Plus Incentive Fee Contract ("FPPIF")
Provides the Supplier with a fixed price for delivered performance plus a predetermined fee for superior performance. [D00701]

FGJ
CHMT

 PMK87
Fixed Start
See Imposed Start. [D00702]

GJ

  
Fixed-Duration Scheduling
A scheduling method in which, regardless of the number of resources assigned to the task, the duration remains the same. [D00703]

GJ

 WST
Flexibility
The Current Financial Year Budget Allocation less the sum of (Work-to-Date plus Obligations). [D00704]

GJ

 PMIS
Flexible
Capable of being easily modified, usually by agreement or under appropriate circumstances. [D02780]

GJ

 RMW
Float
The difference between the time available for performing a task and the time required to complete it. If the total float for a task equals zero, then that task is on the critical path. [D00712]

GJN

 OTOB p137
Available time for activity execution less time taken by the activity. [D00705]

GJN

 NPMT
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. [D00706]

GJN

 WST
PMST
Same as Slack Time. [D00707]

JN

 SPM p304-9
See also Free Float [D00708]

JN

  
The 'full time' for an activity during which it can be delayed without delaying the overall program. [D00709]

GJN

 CPMUSC p176-8
The additional time available to complete non-critical activities or work items without affecting the critical path (i.e. the total project duration). [D00710]

GJN

 CCCP
The amount of time that an activity may be delayed from its early start with out delaying the project finish date. Float is a mathematical calculation and can change as the project progresses and changes are made to the project plan. Also called slack, total float, and path float. See also free float. [D00711]

GJN

 PMK96
A measure of the time flexibility available in the performance of an activity. Available in three flavors; Total Float, Free Float and Independent Float. [D03844]

GJN

 PNG
Float Trend Charts
A chart showing the progressive change in schedule float. [D02781]

JN

 RMW
Floating Task
A task that can be performed earlier or later in the schedule without, affecting the project duration, [D00713]

JN

 PMK87
Flow Chart
A diagram showing the sequential steps in a process. [D05362]

N

 RMW
A graphical explanation of a particular process. [D02319]

N

 DSMC
Flow Diagram
Graphical representation of an information process. [D00714]

N

 NPMT
Flowcharting
See Flow Chart. [D05647]

N

  
FM
See Functional Manager

F

  
FMEA
See Failure Mode Effects Analysis

JN
MT

  
See Failure Modes & Effects Analysis

JN
MT

  
Focus Group
An information gathering technique in which questions are directed to a group of individuals so that interaction among participants will improve the quality and depth of responses. [D06421]

N

 asae
Fog Index
A measure of readability of a written work (in the English language) based on a combination of two criteria:
  1. The average number of words per sentence and
  2. The percentage of words containing three or more syllables.
[D05998]

N

 PMTWG
A measure of readability and/or efficiency in conveying meaning in documents, sometimes measured by grades from school to academic. [D05363]

N

 RMW
Definitions for page F02: 51

***  prev

Home | Issacons | PM Glossary | Papers & Books | Max's Musings
Guest Articles | Contact Info | Top of Page