Would you like to inspect the original subtitles? These are the user uploaded subtitles that are being translated: 1 1 00:00:01,330 --> 00:00:03,312 Here's the project with the float calculated 2 2 00:00:03,312 --> 00:00:05,395 for all the deliverables. 3 3 00:00:06,660 --> 00:00:08,628 The float tells you how much 4 4 00:00:08,628 --> 00:00:10,687 each deliverable can be delayed, 5 5 00:00:10,687 --> 00:00:12,649 or float forward in the schedule, 6 6 00:00:12,649 --> 00:00:16,689 before it would become critical and push out the end date. 7 7 00:00:16,689 --> 00:00:19,457 We calculate it by subtracting the earliest finish 8 8 00:00:19,457 --> 00:00:21,769 from the latest finish of each deliverable, 9 9 00:00:21,769 --> 00:00:25,281 and see how much difference there is. 10 10 00:00:25,281 --> 00:00:28,921 When the latest finish and earliest finish are the same, 11 11 00:00:28,921 --> 00:00:31,269 the deliverable will have zero float, 12 12 00:00:31,269 --> 00:00:33,309 and can't be even one day late 13 13 00:00:33,309 --> 00:00:35,590 without pushing out the deliverables in front of it 14 14 00:00:35,590 --> 00:00:37,558 and thereby extending the end date, 15 15 00:00:37,558 --> 00:00:41,288 which means it's on the critical path. 16 16 00:00:41,288 --> 00:00:44,316 Let's look at some of the deliverables. 17 17 00:00:44,316 --> 00:00:47,520 The Kickoff Meeting float is its latest finish of one 18 18 00:00:47,520 --> 00:00:50,640 minus its earliest finish of one, or zero, 19 19 00:00:50,640 --> 00:00:53,960 which we write on top of the deliverable. 20 20 00:00:53,960 --> 00:00:56,279 All the rest of the deliverables outlined in red 21 21 00:00:56,279 --> 00:01:00,090 also have the same earliest finish and latest finish, 22 22 00:01:00,090 --> 00:01:04,828 and so a float of zero, defining the critical path. 23 23 00:01:04,828 --> 00:01:07,790 If any of these deliverables delay even a day, 24 24 00:01:07,790 --> 00:01:10,162 they will push out the deliverables after it, 25 25 00:01:10,162 --> 00:01:13,301 and the end date will move out. 26 26 00:01:13,301 --> 00:01:17,311 This is the set of deliverables without any schedule slack, 27 27 00:01:17,311 --> 00:01:19,299 where the project manager needs to focus 28 28 00:01:19,299 --> 00:01:21,299 most of their attention. 29 29 00:01:22,353 --> 00:01:26,645 On the other hand, look at the New Floor Plan 1st Draft. 30 30 00:01:26,645 --> 00:01:30,134 The earliest it can finish, if all goes according to plan, 31 31 00:01:30,134 --> 00:01:31,134 is day five. 32 32 00:01:31,974 --> 00:01:34,145 But the latest it could finish, if it had issues, 33 33 00:01:34,145 --> 00:01:36,145 would be day 11. 34 34 00:01:36,145 --> 00:01:40,484 So it has a float of 11 minus five, or six days. 35 35 00:01:40,484 --> 00:01:43,044 And it only has four days of work. 36 36 00:01:43,044 --> 00:01:46,152 That tells the project manager it could be done twice over, 37 37 00:01:46,152 --> 00:01:49,124 and still have two days to spare. 38 38 00:01:49,124 --> 00:01:52,103 In other words, there is not a lot of schedule risk 39 39 00:01:52,103 --> 00:01:55,304 with the New Floor Plan 1st Draft deliverable. 40 40 00:01:55,304 --> 00:01:57,343 The project manager won't ignore it, 41 41 00:01:57,343 --> 00:02:00,003 but will focus most of their attention on the other, 42 42 00:02:00,003 --> 00:02:02,253 critical path deliverables. 43 43 00:02:03,803 --> 00:02:06,783 Similarly, the New Floor Plan 2nd Draft can finish 44 44 00:02:06,783 --> 00:02:10,090 as early as day 15, or as late as day 22, 45 45 00:02:10,090 --> 00:02:11,992 for a float of seven. 46 46 00:02:11,992 --> 00:02:14,504 And they only have three days of work. 47 47 00:02:14,504 --> 00:02:17,613 They could do it three times over, and have a day to spare, 48 48 00:02:17,613 --> 00:02:20,933 before it's needed for the executive approval. 49 49 00:02:20,933 --> 00:02:22,100 Very low risk. 50 50 00:02:23,914 --> 00:02:28,094 Along the bottom, the Training Plan has 16 days of float, 51 51 00:02:28,094 --> 00:02:30,002 with only one day of work, 52 52 00:02:30,002 --> 00:02:32,707 and so there's almost no chance delays on this deliverable 53 53 00:02:32,707 --> 00:02:36,124 will impact the overall project schedule. 54 54 00:02:36,970 --> 00:02:39,641 The critical path is gold to know. 55 55 00:02:39,641 --> 00:02:41,791 It makes the project manager's schedule management job 56 56 00:02:41,791 --> 00:02:44,624 as focused and simple as possible. 57 57 00:02:45,778 --> 00:02:48,290 And now, you understand it better than most, 58 58 00:02:48,290 --> 00:02:51,610 and know exactly how the Gantt chart software calculates it 59 59 00:02:51,610 --> 00:02:52,860 under the hood. 60 60 00:02:54,250 --> 00:02:56,080 And here's the important part. 61 61 00:02:56,080 --> 00:02:58,510 The critical path should be managed closely, 62 62 00:02:58,510 --> 00:03:01,819 even when the stakeholders are not concerned about schedule 63 63 00:03:01,819 --> 00:03:06,138 since any delays drive increases in schedule, cost, 64 64 00:03:06,138 --> 00:03:08,397 as well as brand new risks 65 65 00:03:08,397 --> 00:03:11,468 as the world starts to change under your feet. 66 66 00:03:11,468 --> 00:03:13,248 You want the team to have fun, 67 67 00:03:13,248 --> 00:03:17,187 and don't want to work overtime unless absolutely necessary. 68 68 00:03:17,187 --> 00:03:20,209 But you also want to watch the critical path like a hawk, 69 69 00:03:20,209 --> 00:03:25,126 and get the project finished as soon as it possibly can be. 6140