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The concept of late start (LS) in project management refers to the latest time an activity can commence without causing a delay in the project's overall timeline. Understanding this concept is crucial for effective project scheduling and management.

Late start is determined based on the project's critical path, which includes the sequence of tasks that directly impacts the project's finish date. By calculating the latest possible start for an activity, project managers can identify flexibility in scheduling while ensuring that subsequent activities are not impacted and the project's overall timeline remains intact.

This timing is especially significant when dealing with resource allocation, risk management, and maintaining project milestones. Knowing the LS allows project managers to make informed decisions about adjusting the schedules of various activities when unforeseen delays occur, without affecting the project’s completion date.

In contrast, the other options provided do not accurately define late start. The final deadline for project delivery refers to the project’s end date, not specifically to the timing of individual activities. The latest possible start time for project approval does not relate to the scheduling of activities in the same way as late start and is more relevant to the administrative processes around project initiation. Lastly, the scheduled end time of a project pertains to the completion of the entire project rather than the timing of individual tasks within it