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Q. What is utility of optimised production technology to manufacturing operations?
Optimised production technology (OPT) optimises the employ of ‘bottleneck resources' (restrictive factors) for example as the binding constraints which limit capacity and by. Illustrations include programmable production cycles to equal the speed of non-bottleneck resources to the running of bottleneck resources maintained at full capacity. Optimised production technology helps to ignore the build up of unnecessary work into progress and assists a JIT environment.
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Why might a probabilistic estimate of the project completion time base solely on the variance of the critical path be misleading? Under what circumstances would it be acceptable?
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