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The Collective Action Problem (Where Everyone Is Better Off If

question 166

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The collective action problem (where everyone is better off if action is coordinated, but free riding on the actions of others is possible) is an example of a prisoners' dilemma game.


Definitions:

Float

The duration a project activity can be postponed without affecting the start times of future tasks or the final project deadline.

Rough Order Of Magnitude

An early estimate of the cost, size, or duration of a project, with a broad level of accuracy.

Slack

The amount of time that a project task can be delayed without causing a delay to subsequent tasks or affecting the project's overall timeline.

Conceptual Estimate

An early cost estimate based on basic project information and expert knowledge, used to assess project feasibility.

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