In value engineering, important consideration is given to
Customer satisfaction
Function concept
Profit maximisation
Cost reduction
Correct Answer :
D. Cost reduction
Related Questions
Routing is essential in the following type of industry
Assembly industry
Process industry
Job order industry
Mass production industry
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
P.M.T.S. (Predetermined Motion Time Systems) include
M.T.M. (Method Time Measurement)
W.F.S. (Work Factor Systems)
B.M.T.S. (Basic Motion Time Study)
All of these
Acceptance sampling is widely used in
Batch production
Job production
Mass production
All of the above
Standard time is defined as
Normal time + allowances
Normal time + idle time + allowances
Normal time + idle time
Only normal time for an operation
Process layout is employed for
Batch production
Continuous type of product
Effective utilisation of machines
All of the above
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
Pick up the correct statement. Dummy activity on a PERT/CPM chart means, it
Consumes time, but no resources
Consumes resources but no time
Consumes neither time nor resources
Is a dangling event
According to Rowan plan of wage incentive system, bonus is paid to a worker
Whose output exceeds 67% efficiency
On the percentage of time saved
On the percentage of time worked
On the percentage of standard time
The main object of scientific layout is
To produce better quality of product
To utilise maximum floor area
To minimise production delays
All of these
Which one of the following represents a group incentive plan?
Halsey Premium Plan
Lincoln Plan
Rowan Plan
Taylor Plan
Which of the following equations is not in conformity with others?
Organisation performance × motivation = profits
Knowledge × skill = ability
Ability × motivation = performance
Attitude × situation = motivation
The deductions for, employees provident fund start
Immediately on joining the service
After 60 days of joining the service
After 100 days of joining the service
After 240 days of joining the service
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
In the Halsey system of wage incentive plan, a worker is
Paid as per efficiency
Ensured of minimum wages
Not paid any bonus till his efficiency
Never a loser
The most suitable incentive plan for the maintenance section of an industry will be
Piece rate system
Group incentive plan
Profit sharing plans
Simplification
The unit cost in case of batch production is ________ as compared to jobbing production.
Same
Low
High
None of these
The critical activity has
Maximum float
Minimum float
Zero float
Average float
Choose the wrong statement. Motion study is used for
Improving a work method
Improvising a work method
Designing a work method
Reducing inventory costs
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
The simplex method is the basic method for
Value analysis
Operation research
Linear programming
Model analysis
Pick up the incorrect statement about advantages of work sampling
Permits a fine breakdown of activities and delays
Simultaneous study of many operators may be made by a single observer
Calculations are easier, method is economical and less time consuming
No time measuring devices are generally needed
A feasible solution to the linear programming problem should
Satisfy the problem constraints
Optimise the objective function
Satisfy the problem constraints and non-negativity restrictions
Satisfy the non-negativity restrictions
In steel plant the most important system for materials handling is
Conveyors
Cranes and hoists
Trucks
Locos
In A-B-C analysis, which class of items are generally large in number?
A
B
C
None of these
Breakeven analysis is a
Short term analysis
Long term analysis
Average of short and long term analysis
Any one of these
The technique for establishing and maintaining priorities among the various jobs of any project is known as
Event flow scheduling technique
Critical ratio scheduling
Slotting technique for scheduling
Short interval scheduling
The time by which the activity completion time can be delayed without affecting the start of succeeding activities, is known as
Duration
Total float
Free float
Interfering float
In break even analysis, total cost consists of
Fixed cost + sales revenue
Variable cost + sales revenue
Fixed cost + variable cost
Fixed cost + variable cost + profit
Inventory management consists of
Effective running of stores
State of merchandise methods of storing and maintenance etc.
Stock control system
All of the above