A Material Variance Is One That Is Large Enough to Make

question 146

True/False

A material variance is one that is large enough to make a difference in the outcome of a decision.

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Definitions:

Critical Path

The shortest possible time in which an entire project can be completed if all project tasks go according to plan. It is the path ‘with no slack’.

Project Calendar

A scheduling tool that outlines the specific timelines, milestones, and deadlines within a project.

Job Duration

The length of time an individual remains in a particular job or employment position, often measured from the start date to the end date of employment.

CPM/PERT

A combination of the critical path method and the program evaluation and review technique.