Industrial Engineering and Production Management
The correct sequence of phases in value engineering is

Investigation phase, information phase, creative phase, evaluation phase
Information phase, creative phase, investigation phase, evaluation phase
Creative phase, information phase, investigation phase, evaluation phase
Creative phase, investigation phase, evaluation phase, information phase

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Industrial Engineering and Production Management
The assumption in PERT is

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

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Industrial Engineering and Production Management
The critical path of a network represents

The maximum time required for completion of project
Minimum cost required for completion of project
The minimum time required for completion of project
Maximum cost required for completion of project

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