An optimum project schedule implies
Optimum utilization of men, machines and materials
Lowest possible cost and shortest possible time for project
Timely execution of project
To produce best results under given constraints
Correct Answer :
B. Lowest possible cost and shortest possible time for project
Related Questions
In Lincoln plan (one type of group incentive plan), the amount of the profit which an employee receives in addition to the guaranteed basic pay/wages, is based on:
A standard rating system
A merit rating system
A job evaluation system
His individual performance
What does symbol 'O' imply in work study?
Operation
Inspection
Transport
Delay/temporary storage
Which of the following plans motivates supervisors by paying a premium on time saved by workers?
Halsey plan
Rowan plan
Haynes plan
Emerson's plan
The most popular type of organisation used for Civil Engineering Constructions is
Line organisation
Line and staff organisation
Functional organisation
Effective organisation
Merit Rating is the method of determining worth of
A job
An individual employee
A particular division in workshop
Machine
The average time recorded by work study man for an operation is called
Standard time
Normal time
Representative time
None of these
Statistical quality control techniques are based on the theory of
Quality
Statistics
Probability
All of the above
In jobbing production
Highly skilled workers are needed
Unit costs are high
Operations are labour-intensive
All of these
The probabilistic time is given by (where to = Optimistic time, tp = Pessimistic time, and tn = Most likely time)
(to + tp + tn)/3
(to + 2tp + tn)/4
(to + 4tp + tn)/5
(to + tp + 4tn)/6
Standard time is defined as
Normal time + allowances
Normal time + idle time + allowances
Normal time + idle time
Only normal time for an operation
The objective of time study is to determine the time required to complete a job by
Fast worker
Average worker
Slow worker
New entrant
CPM has following time estimate
One time estimate
Two time estimate
Three time estimate
Four time estimate
If (R) is the base rate guaranteed per hour, (S) is the standard time for the job and (T) is the actual time, then according to Halsey 50-50 plan, wages for the job will be
TR
TR + [(S - T)/2] × R
TR + (S - T) × R
TR + [(S - T)/S] × R
In time study, the rating factor is applied to determine
Standard time of a job
Merit rating of the worker
Fixation of incentive rate
Normal time of a worker
PERT
Provides an approach for keeping planning up-to-date
Provides a way for management to require that planning be done on a uniform and logical basis
Permits management to foresee quickly the impact of variations from the plan
All of the above
The determination of standard time in a complex job system is best done through
Stop watch time study
Analysis of micro-motions
Grouping timing technique
Analysis of standard data system
If TL is the largest allowable event occurrence time, total activity slack (s) is equal to
Latest start time earliest start time
Latest finish time earliest finish time (EFT)
TLEFT
All of the above
The salient feature of functional organisation is
Strict adherence to specification
Separation of planning and design part
Each individual maintains functional efficiency
All of the above
A company spends considerable amount on publicity to promote sales. This expenditure in break even chart is shown below the
Fixed cost line
Variable cost line
Total cost line
Sales revenue line
PERT analysis is based upon
Optimistic time
Pessimistic time
Most likely time
All of these
Time study is carried out
By finding all the significant informations regarding the job, work place and machine tool etc.
By breaking up each operation into small elements which are measurable with the help of the measuring device accurately
By observing and recording the time taken by the operator for an operation
All of the above
In Halsey 50-50 plan, output standards are established
By time study
From previous production records
From one's judgement
All of the above
Time study is
The appraisal, in terms of time, of the value of work involving human effort
Machine setting time
Time taken by workers to do a job
Method of fixing time for workers
Pick up the incorrect statement from the following
An activity of the project is denoted by an arrow on the net work
The tail of the arrow indicates the start of the activity
The head of the arrow indicates the end of the activity
The arrows are drawn (to scale from) left to right
PERT stands for
Programme Estimation and Reporting Technique
Process Estimation and Review Technique
Programme Evaluation and Review Technique
Planning Estimation and Resulting Technique
In breakeven analysis, total cost consists of
Fixed cost
Variable cost
Fixed cost + variable cost
Fixed cost + variable cost + overheads
Job enrichment technique is applied to
Reduce labour monotony
Overcome boring and de-motivating work
Make people happy
All of the above
Which one of the following represents a group incentive plan?
Halsey Premium Plan
Lincoln Plan
Rowan Plan
Taylor Plan
For a small scale industry, the fixed cost per month is Rs. 5000. The variable cost per product is Rs. 20 and sales price is Rs. 30 per piece. The break even production per month will be
300
460
500
1000
Indirect expenses include
Factory expenses
Selling expenses
Administrative expenses
All of these