451. The aim of value engineering is to minimize the cost without change in
quality of the product.
452. A diagram showing the path followed by men and materials while performing a task that is known as
flow diagram.
453. When slack of an activity is called negative
it represents that a programme falls behind the schedule and additional resources are required to complete the project in time.
454. The chart which gives an estimate about the amount of materials handling between various work stations is that is known as
travel chart.
455. Man-machine chart chart gives simultaneously information about the
progress of work and machine loading.
activity oriented network.
456. Static concept is the limitations of
break-even analysis.
457. Breakeven point can be calculated in the terms of
units as well as in terms of amount.
458. Margin of safety can be increased by
Reduction in fixed or the variable costs or both.
459. What will be the impact on B.E.P if fixed cost is increased?
Increase.
460. the impact on B.E.P if variable costs are reduced it will
Decrease.
461. PERT is
probabilistic in nature.
462. CPM and PERT use similar terminology but
were developed independently.
463. A project is a set of activities that can be performed in a certain
logical sequence.
464. A network is a graphic portrayal of independency relationship among the
activities of a project.
465. An arrow representing an activity can have
any length and shape.
466. The critical path in a network of activities:
cannot be delayed or else the entire project will be delayed.
467. The Gantt Chart is used to:
provide a schedule of the activities.
468. PERT is considered as a
probabilistic techniques.
469. CPM is considered as a
deterministic approach.
470. PERT uses event-oriented Network. While CPM uses
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