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Total Float and variance

5 replies [Last post]
Sat, 2005-01-15 06:59
Sooraj G Othayoth
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I would like to know what is the difference between total float and variance target 1 early finish.
For eg. I have a baseline program say P100. I copy the same and make another target say T100. In this T100, I update the program by current data date. Then I create a copy of T100 say U100. In U100, I enter the actual start and finish and % complete, and schedule it. The columns I create in U100 are target1 early start, target1 early finish, target2 % complete, percent complete, total float and variance target1 early finish. The target 1 for U100 is P100 and target2 for U100 is T100.
I have always assumed that variance taget1 early finish will give me the delay. Is this true? Then what does total float signify.
Any help on this??
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Replies

Wed, 2005-02-16 02:39
#1
Daniel Limson
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Take note that a variance may be positive or negative. It does not always means that movement would mean a delay, it may be the other way around.

Total float is define as the number of days you can delay a project without affecting your completion date.

Regards,
Daniel
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Sat, 2005-01-29 13:38
#2
Jonathan Kirby
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Jaco
Interesting point there.
Where an activity has moved [later] from its planned time it is in fact delayed and may have a string of consequential delays to following activities, the same applies if an activity takes longer than planned. There is a delay effect. The matter of float is a secondary issue.
If the delay is due to someone elses default and you incur additional cost due to it and the contract or insurance allows you to recover your costs etc then demonstrating these delays and consequential effects could be important.

If the activity is also on the critical path to completion or an interim LD completion date the delay can entitle you to an EOT on the contract date.

Similarly, but conversley, a critical path delay may entitle you to an EOT , but it does not necessarily give you recovery of costs, it merely gives you relief from LD’s.
Thus tracking the non critical activities following a delay event can be more important [for cost recovery] than focussing on criticality.
JK
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Sat, 2005-01-15 07:44
#3
Jaco Stadler
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Sooraj it all depends on your definition of a delay
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Sat, 2005-01-15 07:38
#4
Sooraj G Othayoth
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Thank you Jaco.
So I feel that I am resonably right in assuming that variance will give a more correct picture of delay when u summarise the set of activities for a location or level.
I would definitely look forward to any comments on this.

sooraj
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Sat, 2005-01-15 07:25
#5
Jaco Stadler
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Total Float will reflect when your end date will be impacted 0 = Critical - = Dealyed based on your logice. With other word with how much can this activity move before it impacts your completion date based on the logic.

Float is calculated based on the critical Path

Variance early finish is the amount of days this activity has moved in comparison with your target schedule.

In Short

Total Float (How much an activity can move base on logic)
Variance Early Finish (How much an activity has moved compared to target)

I hope this assist.


Cheers
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