Industrial Engineering and Production Management
Slack represents the difference between the

Latest allowable time and the earliest expected time
Normal allowable time and the latest expected time
Latest allowable time and the normal expected time
Proposed allowable time and the earliest expected time

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Industrial Engineering and Production Management
PERT

Permits management to foresee quickly the impact of variations from the plan
Provides an approach for keeping planning up-to-date
All of the listed here
Provides a way for management to require that planning be done on a uniform and logical basis

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