The aim of value engineering is to
Find the depreciation value of a machine
Determine the selling price of a product
Minimise the cost without change in quality of the product
All of the above
Correct Answer :
C. Minimise the cost without change in quality of the product
Related Questions
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
Product layout is used for
Job production
Batch production
Mass production
Any one of these
Acceptance sampling is used in
Job production
Batch production
Mass production
All of these
In CPM, the cost slope is determined by
Crash cost/Normal Cost
(Crash Cost - Normal cost)/ (Normal time - Crash time)
Normal Cost/Crash cost
(Normal cost - Crash cost)/ (Normal time - Crash time)
Basic motion time study gives times for basic motions in ten thousandths of
Second
Minute
Hour
Day
Frederick W. Taylor introduced a system of working known as
Line organisation
Line and staff organisation
Functional organisation
Effective organisation
Slack of various events on the critical path in PERT/CPM chart
Increases continuously
Decreases continuously
Remain constant
May increase or decrease depending on various factors
Which of the following wage incentive plan guarantees minimum wage to a worker and bonus is paid for the fixed percentage of time saved?
Halsey plan
Gantt plan
Rowan plan
Emerson's efficiency plan
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
If E is the duration, ES and EF are die earliest start and finish times, LS and LF are latest start and finish times, then the following relation holds good
EF = ES + D
LS = LFD
LF = LS + D
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 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
Which one of the following represents a group incentive plan?
Halsey Premium Plan
Lincoln Plan
Rowan Plan
Taylor Plan
Bin card is used in
Administrative wing
Workshop
Foundry shop
Stores
For ship vessel industry the following layout is best suited
Process layout
Product layout
Fixed position layout
Plant layout
Tick the odd man out
Taylor
Drucker
McGregor
Galileo
A CPM family includes
CPA (Critical Path Analysis)
CPP (Critical Path Plotted)
CPS (Critical Path Scheduling)
All of the above
If F is the fixed cost, V is the variable cost per unit (or total variable costs) and P is the selling price of each unit (or total sales value), then breakeven point is equal to
(F × V)/P
(F × P)/V
F/[1 + (V/P)]
F/[1 - (V/P)]
PERT and CPM are
Techniques to determine project status
Decision making techniques
Charts which increase aesthetic appearance of rooms
Aids to the decision maker
The main advantage of line organisation is its
Effective command and control
Defined responsibilities at all levels
Rigid discipline in the organisation
All of the above
The product layout
Lowers overall manufacturing time
Requires less space for placing machines
Utilises machine and labour better
All of these
Gantt chart gives information about
Scheduling and routing
Sales
Production schedule
Machine utilisation
When slack of an activity is negative
It represents a situation where extra resources are available and the completion of project is not delayed
It represents that a programme falls behind schedule and additional resources are required to complete the project in time
The activity is critical and any delay in its performance will delay the completion of whole project
All of the above
A low unit cost can be obtained by following
Product layout
Functional layout
Automatic material handling equipment
Specialisation of operation
Work study is most useful
Where production activities are involved
In judging the rating of machines
In improving industrial relations
In judging the output of a man and improving it
The factors to be considered for production scheduling are
Component design
Route sheet
Time standards
All of these
When slack of an activity is positive
It represents a situation where extra resources are available and the completion of project is not delayed
It represents that a programme falls behind schedule and additional resources are required to complete the project in time
The activity is critical and any delay in its performance will delay the completion of whole project
Any one of the above
Pick up the correct statement from the following
Programmer evaluation and review technique is event oriented
Programmer evaluation and review technique is not event oriented
Critical path method is event oriented
None of the above
Both Rowan plan and 50-50 Halsey plan will provide the same earning when the actual time is _________ the standard time.
One-fourth
One-half
Equal to
Twice
O on a PERT/CPM chart represents
An ordinary event
A significant event representing some milestone
An event to be transferred to other network chart
Dangling event