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A “Finish No Later Than” (FNLT) constraint imposes an upper bound on finish—work may finish any time on or before the stated date, but not after. It is used to model deadlines driven by external commitments (e.g., regulatory filings). It does not set an earliest finish (Option A), nor require exact finishing on the date (Option C). Constraints don’t “add float” by themselves (Option D); they change float calculations relative to the constraint, and can create negative float if the unconstrained schedule exceeds the deadline—an important signal requiring corrective action (scope trade-offs, compression, risk responses). CAPM schedule guidance suggests using deadlines cautiously and visibly, documenting assumptions, and reassessing after each change to logic or durations. Where possible, prefer modeling actual dependencies and using schedule reserve to protect dates instead of excessive hard constraints, preserving transparency and analytical integrity of the network.