A sustainable element of superiority over rivals, which can be from differentiation (even uniqueness) or the result of aggressive cost-cutting, making the product/service the lowest-cost provider in the marketplace (see pp. 20–22). Business guru Michael Porter emphasises that unless the advantage is sustainable, it’s not a meaningful competitive advantage.
The longest path through a project, found by adding up the durations of the activities on that path. This tells you the minimum time the project will take until completion, and shows managers the activities they must supervise most carefully. Any activity off the critical path has an element of float time, i.e. spare time.
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