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

Information phase, creative phase, investigation phase, evaluation phase
Creative phase, investigation phase, evaluation phase, information phase
Creative phase, information phase, investigation phase, evaluation phase
Investigation phase, information phase, creative phase, evaluation 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
A project will always be behind schedule, if left uncorrected
A project can be subdivided into a set of predictable, independent activities
Activities are fixed and can't be changed

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