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WBS reference; Slack/Float: Determines the duration of activity delay that the project can tolerate before the project comes in late. The difference between the earliest and the latest start time. [1]: 502 [2]: 183 i.e. Slack = latest start date - earliest start day or Slack = latest finish time - earliest finish time.
A work-breakdown structure (WBS) [2] in project management and systems engineering is a deliverable-oriented breakdown of a project into smaller components. A work breakdown structure is a key project management element that organizes the team's work into manageable sections.
Before a project schedule can be created, the schedule maker should have a work breakdown structure (WBS), an effort estimate for each task, and a resource list with availability for each resource. If these components for the schedule are not available, they can be created with a consensus-driven estimation method like Wideband Delphi. [5]
The PBS is identical in format to the work breakdown structure (WBS), but is a separate entity and is used at a different step in the planning process. The PBS precedes the WBS and focuses on cataloguing all the desired outputs (products) needed to achieve the goal of the project.
In some cases, a geographic division may be preferred. Each descending (lower) level represents an increasingly detailed description of the resource until small enough to be used in conjunction with the work breakdown structure (WBS) to allow the work to be planned, monitored and controlled.
Terminal elements and summary elements constitute the work breakdown structure of the project. Modern Gantt charts also show the dependency (i.e., precedence network) relationships between activities. Gantt charts can be used to show current schedule status using percent-complete shadings and a vertical "TODAY" line.
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