Slack Time Is Equal To

question 64

Multiple Choice

Slack time is equal to:

• A) the difference between an activity's latest and earliest expected completion time.
• B) the latest expected completion time.
• C) the difference between the start time and realistic time for each activity.
• D) the sum of an activity's latest and earliest expected completion time.
• E) the difference between the optimistic time and pessimistic time for an activity.

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Definitions:

Scientific Management

A theory of management that analyzes and synthesizes workflows to improve economic efficiency, especially labor productivity, introduced by Frederick W. Taylor.

Bargaining Power

The capacity of one party to dominate negotiations due to their resources, status, or strategic position.

Collective Bargaining

The process whereby union representatives and employers negotiate labor contracts pertaining to wages, hours, benefits, and working conditions.

Perfectly Competitive

A market structure characterized by many buyers and sellers, no barriers to entry or exit, and where all firms sell identical products, leading to price determination purely by supply and demand.