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TOPIC: free Float

free Float 1 year 10 months ago #5090

  • Mohd Salik
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Dear Cornellius,
I have understood your Total Float, But failed to understand free float.Could u please explain me the concept of free float.

Thanks.
M.S.Bhaiji

free Float 1 year 10 months ago #5092

  • Rahul Kakkar
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Hi Mohd,

Here are my two cents:

Total float is the amount of time that an activity can be delayed without delaying the project completion date. On a critical path, the total float is zero.

Total float is often known as the slack.

You can calculate the total float by subtracting the Early Start date of an activity from its Late Start date (Late Start date – Early Start date), or Early Finish date from its Late Finish date (Late Finish date – Early Finish date)


Free float is the amount of time that an activity can be delayed without delaying the Early Start of its successor activity.

You can calculate the free float by subtracting the Early Finish date of the activity from the Early Start date of next activity (ES of next Activity – EF of current Activity).

Hope this helps.
Rahul Kakkar, PMP, MBA
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free Float 1 year 10 months ago #5093

  • Simon Ngembu
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Is there any link between the concept of float and feeding buffers?

free Float 1 year 10 months ago #5098

  • Craig Arcuri
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Simon Ngembu wrote:
Is there any link between the concept of float and feeding buffers?

The concept of Float is a term used in the Critical Path Method. I've worked in Matrix organizations and it becomes complicated when you do not have all team members dedicated 100% to your project.

In this situation, Critical Chain Method may be more useful. It is the Critical Chain Method which utilizes Feeding Buffers instead of the concept of float. The Feeding Buffers are on the non-critical chain to help insure that delays on the non-critical chain do not affect the critical chain.
Craig Arcuri, PMP, CSM
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free Float 1 year 10 months ago #5099

  • Mohd Salik
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Thanks Rahul,
For clearing my doubt on free float.



Regards
M.S.bhaiji

free Float 1 year 10 months ago #5102

  • Rahul Kakkar
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Mohd Salik wrote:
Thanks Rahul,
For clearing my doubt on free float.



Regards
M.S.bhaiji

You're most welcome. Feel free to ask any further queries that you may have.
Rahul Kakkar, PMP, MBA
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Question oon Contract 1 year 10 months ago #5114

  • Mohd Salik
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Hi1,
Could you plz help me solve this problem.

In a project a cost incentive contract has been awarded to a contractor with the following parameters.
Target Cost : 1,000,000

target contractor Fees : 100,000

Cost benefit sharing ratio : 80%/20%

Price Ceiling 1,200,000


What is the PTA of the project.

Question oon Contract 1 year 10 months ago #5117

  • Steve Sandoval
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Hello Mohd,

The formula for the Point of Total Assumption is:
PTA = ( (Ceiling Price - Target Price) / (Buyer's Share Ratio) ) + Target Cost

PTA is the expense level after which the seller pays 100% of contract costs. We can construct this logically:
1. You start with the target cost
2. For anything above the target cost but below the price ceiling, the buyer only pays their share ratio. To find out what contract expense this translates to, you *divide* by that share ratio.
3. You then add #1 (target cost) and #2 (the amount of additional spending required for the buyer to hit their ceiling price)

So in this case,
PTA = (1,200,000 - 1,000,000)/0.20 + 1000000
PTA = 2,000,000


However, in your question you stated a "cost benefit sharing ratio". The way this is worded it is not entirely clear which ratio is the seller's and which is the buyer's. In this case, I have assumed that the buyer's share ratio is 20%.
Steve Sandoval, PMP
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Question oon Contract 1 year 10 months ago #5129

  • Mohd Salik
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dear Steve,
I appreciate your answering my question. but where have you used 100,000/- of target contractor fees.


Thanks.
M.S.Bhaiji
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