Time Management - leads, lags, crashing, fast tracking

Joseph Phillips
A free video tutorial from Joseph Phillips
4.5 instructor rating • 32 courses • 393,534 students

Lecture description

In this lecture we're going to nail down leads, lags, crashing, and fast tracking:

  • Lag time is when you add time between activities for waiting time. 
  • Lead time is when you allow activities to overlap.
  • Crashing is when you add more resources to the project.
  • Fast tracking is when you allow phases and activities to overlap.

Learn more from the full course

PMP Exam Cram Session - 8 PDUs from a PMI REP

Cram Session for Passing the PMI PMP Exam - from a PMI Registered Education Provider

06:51:11 of on-demand video • Updated September 2017

  • Define the PMP exam details
  • Study to pass the PMP exam - not just take the PMP exam
  • Implement test-passing tips and tricks for the PMP
  • Focus on the key PMBOK practices for the PMP exam
  • Identify the needed processes for project scenarios
  • Dive into complex PMP tasks like float and earned value management
  • Understand the ten project management knowledge areas for the PMP exam
  • Create a success plan to pass the PMP on the first attempt
English [Auto] Won't come back. Let's talk about your time management. You should be a lawyer with your exam. So these are difficult. Just know these put these in your arsenal for passing the exam. First off leads and lags lead time is accelerated time lead time really it brings activities closer together maybe even overlapping. So lead time activity a an activity that you bring those activities together. You might even allow them to overlap. So an example is go back to painting those hotel rooms. So we're going to have one person that does the priming they primed the walls and it takes that person let's say it's a big broom. It will take them three hours to prime all the walls all of them with the primer only needs 30 minutes to dry or cure before it can be painted on rather than waiting for a three hour head start against the painter. We could do a lead time let's say of one hour. So the primer has that activity that's going to last for three hours after it's. We have painting. Well instead we are going to do a lead time of minus two hours is wrong going to allow one hour for that primer to cure or the painter can begin their activity. So lead time brings activities closer together even overlapping lag time is just the opposite. It's a waiting time that you've added lag time to move activities further apart. So lag time could be we have poured concrete. It's really humid it's really hot out. It's taking longer for the concrete to cure to harden before we can start building on it. So ordinarily we would have as soon as we pour the concrete in it's cured we can begin framing. That's only eight hours or overnight Well because it's so hot and humid where you say well we're going to add 24 hours a whole day of waiting. So lag time moves activities further apart. Then we have schedule compression schedule compression means. How can I compress the schedule how can I make my schedule tighter or get done faster. Is the goal well crashing means you add more labor you add more people to the activities. But this drives up cost crashing though can only be done to activities that are Effort Driven. If you have a printing press we talked about printing. So we have a printing press here. It can do let's say 50000 units per hour that's how many sheets of paper it can go through this printing press adding more people to the activity of printing won't make that piece of equipment work faster. It's a fixed duration activity it's immune to crashing. But if we have an activity where we have to clean a stadium after a big event. Well if one person does it to take a long time. But if we can get 50 people to go in and help clean then it takes less time. So that's crashing. So you can add more people to get done faster. The penalty for crashing though is it costs more money because you have to pay for the labor. Crashing could also be you get a faster piece of equipment. So we have that printing press that has 50000 per hour. What if we bought a printing press that does 100000 units per hour. So we've crashed it by adding a resource. Typically it's people that are fast tracking very similar to adding lead time. Fast tracking allows usually phases to overlap but it could be activities but typically it's phases that you move out phases the overlap but it adds risk because if I'm not done with the first phase yet and I start the second phase there could be a problem in the first phase which now affects the second phase because of the risk. Another little tool you can do here is the money Carlo simulation. It's called Monte Carlo because of money Karlo and games of chance. Imagine a roulette table with all those different numbers and you put your chips on different numbers and there's that ball that goes in the wheel spins around OK a roulette table all the different possibility combinations of where that ball could land. And all of where the possibilities of where you put your chips. So that's a money car simulation and that it's looking at all of the possible optimistic. Most likely pessimistic. What variables you change or tinker with in your schedule to get the best outcome for the entire project. So that's Monte-Carlo simulation and this is a software driven there are lots of software driven approaches for Monte Carlo. So just recognize those for your exam I would dissipate seeing those on your PMP Exam. Great job finishing in this section on time management. A lot of information we talked about in this section on time management so let's do just a quick wrap about some of the key things you need to know from this section in our time management Kram. First off what's in the schedule management plan recall the schedule management plan it's a subsidiary plan. It has the schedule model data. The level of accuracy. How will you measure time. Hours days weeks what are your procedure Lincs your schedule model maintenance control thresholds for you know plus or minus the percentage. What are your rules for performance measurements. Who do you report to. And then what are the process descriptions we talked about the planning components remember the control account plans like the kitchen X amount of dollars x amount of time for these deliverables and then we talked about planning packages. It's a component of the control account. I know I need cabinets but I don't know exactly which cabinets we're going to purchase. So it's a decision that needs to be completed. Usually a deadline attached to that planning package we talked about reserve time and Parkinson's Law. That work expands to fill the time allotted to it and so reserve time as a way to combat Parkinson's law that we work towards ideal time. We talked about float. Another is your favorite topic in this section. So flow we had free float where an activity can be delayed without affecting the successor start date total float and activity can be delayed without affecting the entire project completion and then project flowed as you've got this big window to pick up and put down a project at your leisure. I know all of you experienced that but project float is the project can be delayed without passing the deadline. The customer expected completion date. Then we talked about leads and lags. Recall that lead time is accelerated time could even allow activities to overlap and then we have a lag time that lag time is waiting time that we're moving activities further apart. All right very good. Great job finishing this section on time management. Lot of important stuff in this module. Now you also want to think about your time management for your exam. So if you get on some tough questions don't linger that can rob your time if you forget to take a break. That's going to rob your brain. So factor in your time on each question but also factor in your time to get up and take a break and catch your breath and do what you need to do. Okay great job finishing this section on time management. I'll see you in the next section on cost management.