Final answer:
Latest Time Information of Value (LTIOV) refers to the latest possible time at which a particular information or data can be obtained without delaying a project.
Step-by-step explanation:
Latest Time Information of Value (LTIOV) is a term used in project management to describe the latest possible time at which a particular information or data can be obtained without delaying the project or affecting its outcome.
For example, in the context of a construction project, the LTIOV for obtaining approval from the local authorities may be the last day of the month, as any delay beyond that could result in a significant delay in the project timeline.
Understanding the LTIOV allows project managers to plan and schedule activities in a way that minimizes the risk of delays and ensures the timely completion of a project.