F

Failure costs Covers the cost of activities generated if the product fails including downtime, user support, rework , and scrapping the project.

Fast tracking A schedule compression technique where two activities that were previously scheduled to start sequentially start at the same time. Fast tracking reduces schedule duration.

Feasibility study Undertaken to determine whether the project is a viable project, the probability of project success, and the viability of the product of the project.

Finish to finish A project task relationship in which the finish of the successor task is dependent on the finish of the predecessor task.

Finish to start A project task relationship in which the successor task cannot begin until the predecessor task has completed.

Fixed price contracts A fixed fee for the work that the vendor will provide.

Float time The amount of time the early start of a task may be delayed without delaying the finish date of the project. Also known as slack time.

Flowchart A diagram that shows the logical steps that must be performed in order to accomplish an objective. It can also show how the individual elements of a system interrelate.

Formal communications Planned communications such as project kickoff meetings, team status meetings, written status reports , or team-building sessions.

Forward pass The process of working from the left to the right of a network diagram in order to calculate early start and early finish dates for each activity.

Functional organization A form of organizational structure. Functional organizations are traditional organizations with hierarchical reporting structures.

Functional requirements Define what the product of the project will do by focusing on how the end user will interact with the product.