Industrial Engineering and Production Management
Slack represents the difference between the

Latest allowable time and the earliest expected time
Latest allowable time and the normal expected time
Proposed allowable time and the earliest expected time
Normal allowable time and the latest expected time

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Industrial Engineering and Production Management
Travel charts provide

The information for changes required in rearranging material handling equipment
An approximate estimate of the handling which must be done at a particular station
A compact estimate of the handling which must be done between various work sections
An idea of the flow of materials at various stages

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Industrial Engineering and Production Management
The assumption in PERT is

A project can be subdivided into a set of predictable, independent activities
Activities are fixed and can't be changed
A project will always be behind schedule, if left uncorrected
Cost of project will always be more than the estimated cost, if no timely corrections are taken

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Industrial Engineering and Production Management
When slack of an activity is positive

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
It represents a situation where extra resources are available and the completion of project is not delayed

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