The video starts with 3 terms
Total Float, Free Float, and Negative Float.
By default Float or slack actually means Total Float
Total Float: This term is given for the float for a given path, so the path which you have and the flexibility for that given path. Total Float is the schedule flexibility or amount of time that a schedule activity can be delayed or extended without delaying the project finish date. In simple words, it is a flexibility or relaxation without impacting the final date of the project.
Free Float: It is the amount of time that a schedule activity can be delayed without delaying the early start date of any successor. So in simple language free float is the flexibility at activity level and total float is the flexibility at the path level.
The formula for Total Float
Total Float = Difference between Early Finish and Late Finish
OR
= Difference between Early Start and Late Start
Usually, float means positive, you have flexibility, you can delay some part of the work.
Negative Float is reverse, it is a temporary situation, a respiration point, and you can do something to get it settled in the end. Negative float analysis helps to find possible accelerated ways to bring a delayed schedule back on track.
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Materials in this video are based on the text, A Guide to the Project Management Body of Knowledge, (PMBOK® Guide) - Sixth Edition, Project Management Institute Inc., 2017.
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