Project Float is the period of time for which a project activity can be delayed without causing a deferment to the entire project time or other activity’s duration. It shows the ability of project schedule to be adjusted and steady to any changes happened in activity durations, with no extension of project completion date. Project float is also called project slack.
There are two kinds of project float time, such as:
- Total float – a time period for which an activity can be deployed, with no effect to project completion date.
- Free float – a time period for which an activity can be deferred, without the need to reschedule other activities in the same project.
Project float is a great tool to reallocate project resources between project activities without affecting scheduled and fixed timeframes. Managers use project slack time to divert resources from less important activities to more prioritized ones. Project float calculation is usually made in the following 3 steps:
- Identify early start date for an activity
- Identify late start date
- Calculate float time as difference between the dates.