Which term refers to the concept of managing delays in project tasks?

The concept of managing delays in project tasks is best described by the term "free float." Free float, also known as free slack, refers to the amount of time that a task can be delayed without causing a delay to subsequent tasks or the overall completion of the project. It allows project managers to understand how much flexibility they have in scheduling individual tasks within the project timeline. This knowledge is critical for effective project management as it helps in resource allocation and can inform decisions around prioritizing tasks, especially if certain delays occur.

In contrast, the critical path refers to the sequence of tasks that determine the minimum duration of a project. Understanding the critical path helps project managers identify which tasks cannot be delayed without affecting the overall project completion time, but it doesn't specifically address how to manage those delays once they occur.

Latest finish time indicates the latest possible time a task can be completed without delaying the project but does not provide insights into how to handle or mitigate delays effectively.

Asset stripping is a business practice that involves selling off a company's valuable assets, which is unrelated to the management of project tasks.

Overall, understanding free float is essential for managing project timelines and efficiently responding to potential delays, making it the correct and relevant term in this context.