Steps of Linear programming Formulate the linear program. Construct graph, plot the constraint line. Determine the valid side of each constraint line. Identify the feasible solution region. Plot the objective …Read More »
What is linear programming?
Linear programming is a technique for the purpose of allocation of limited resources in an optimum manner. It is the technique used in optimum allocation of resource in the organization. …Read More »
Difference between CPM vs PERT
Difference between CPM vs PERT CPM PERT CPM is activity oriented PERT is event oriented COM is used when the activity times are deterministic PERT uses a probabilistic times One …Read More »
Fulkerson’s Rule – Numbering of events
Fulkerson’s Rule – Numbering of events The initial event which all outgoing arrows with no incoming arrow is numbered ‘a’ Delete all the arrows coming out from node ‘1’ Delete …Read More »
Applications of Network Analysis
Applications of Network Analysis (PERT and CPM): Research and development projects. Equipment maintenance and overhauling. Construction projects. Setting up new industries. Planning and launching of new products. Design of plants, …Read More »
Objectives of Network Analysis
Objectives of Network Analysis: A powerful coordinating tool for planning, scheduling and controlling of projects. Minimization of total project cost & time. Effective utilization of resource and minimization of effective …Read More »
What is network scheduling?
Network Scheduling is a technique for planning and scheduling large projects in the field of construction, maintenance, fabrication and any other areas. Two basic planning and controlling techniques: Critical Path …Read More »
Assumptions in Break Even Analysis
Assumptions in Break Even Analysis: Selling prices will remain constant at all sales level. There is a linear relationship between sales volume and cost. The costs are divided into two …Read More »
Define Break Even Point, Break Even Analysis, Fixed cost and Variable cost
Break Even Point: Break Even Point (BEP) is a situation when you do not make a profit and you do not lose money either. Break Even Analysis: Break Even Analysis …Read More »
How to increase Productivity?
Productivity increases – When production is increased without increase of inputs. The same production with decrease of inputs. The rate of increase in output is more compared to rate of …Read More »