Every activity shall be allotted a realistically estimated time duration so that the sum total of all such duration minus the net overlapping would be equal to the project duration. In actual.practice the time duration is fixed on the basis of the previous on-the-job experience of the planners and the line managers.
It is usual to fix a shorter than permitted duration, keeping a few days up - one's sleeve as a "Buffer Time" for any possible slippage. This provision is contingency time. Scheduled completion time plus contingency time is the target time.
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