Time study: Timestudy refers to a technique, which is used to determine the standard time taken by a worker of reasonable skills and ability to perform a well defined job. It helps in determining how much work an employee should be able to do in a given period of time. Under time study, the job is divided into a series of elements and time taken to perform each element of work is recorded with time measuring devices like stop watch. The method of time study depends upon volume and frequency of the task.
Objectives of time study:
(i) To determine standard time required for a well defined job.
(ii) To determine fair day's work
(iii) To determine number of workers required.
(iv) To determine labour costs.