ITMF 2741 - Industrial Measurement and Cost Systems Lab

3 credit(s)

A study of work methods and analysis for improvement to reduce labor, content, process analysis and approaches to problem solving. This course includes the gathering of data through the use of time studies, pre-determined time standards, an introduction to methods-time-management (MTM), and establishing a work sampling study utilizing random observations. This data is then analyzed for application to cost reduction and improved efficiency. The various forms of wage plans are also discussed concerning the advantages and disadvantages of each. Included are the study and use of financial and analytical methodologies for the determination of equipment purchases, lease, or rental replacement frequencies and/or justifications. A study of economics as utilized by engineering departments, for equipment selection, decision making, analysis of data, and the time-value of money. Prerequisite(s): ITMF 1010 and completion of all remedial and developmental mathematics courses or consent of instructor F
2 hours lecture / 2 hours laboratory