Glossary of Project Management Terms – N

Near-Critical Activity
A low total float activity.

Negative Total Float
Time by which the duration of an activity or path has to be reduced in order to permit a limiting imposed date to be achieved.

Negotiated Contract Cost
The estimated cost negotiated in a Cost-Plus-Fixed-Fee Contract or the negotiated contract or a Cost-Plus-Incentive-Fee Contract. See also Contract Target Cost.

Negotiation
The art of satisfying needs by reaching agreement or compromise with other parties.

Net Present Value
Aggregate of future new cash flows discounted back to a common base date, usually the present. Net Present Value (NPV) is an estimate that helps organizations determine the financial benefits of long-term projects. NPV compares the value of a pound today to the value of that same pound in the future, taking inflation and returns into account.

Network
A pictorial presentation of project data in which the project logic is the main determinant of the placements of the activities in the drawing. Frequently called a flowchart, PERT chart, logic drawing, or logic diagram.

Network Analysis
Method used for calculating a project’s critical path and activity times and floats. Note: See also critical path analysis; project network techniques.

Network Interface
Activity or event common to two or more network diagrams.

Network Logic
The collection of activity dependencies that make up a project network.

Nodes
Points in a network at which arrows start and finish.

Non-recurring Costs
Expenditures against specific tasks that are expected to occur only once on a given project.

Non-splittable Activity
An activity that, once started, has to be completed to plan without interruption. Note: Resources should not be diverted from a non-splittable activity to another activity.

Not Earlier Than
A restriction on an activity that indicated that it may not start or end earlier than a specified date.

Not Later Than
A restriction on an activity that indicates that it may not start or end later than a specified date.