This page compares project lead time vs project lag time and mentions difference between project lead time and project lag time. These are very useful considerations to be taken care by project manager in schedule monitoring and control.
Project lead time is considered a negative value because time is substracted from the downstream activity to bring it closer to the start of the project.
An abundance of lead time may increase risks in the project.
Project lag time is considered a positive value since time is added to the project schedule.
An abundance of lag time can increase the project duration.
Due to above reasons leads and lags must be considered in the project schedule.
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