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Home > QFINANCE Dictionary > Definition of method study

Definition of

method study

General Management

evaluation of existing techniques to find best one the systematic recording, examination, and analysis of existing and proposed ways of conducting work tasks in order to discover the most efficient and economical methods of performing them. The basic procedure followed in method study is as follows: select the area to be studied; record the data; examine the data; develop alternative approaches; install the new method; maintain the new method. The technique was initially developed to evaluate manufacturing processes but has been used more widely to evaluate alternative courses of action.

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Definitions of ’method study’ and meaning of ’method study’ are from the book publication, QFINANCE – The Ultimate Resource, © 2009 Bloomsbury Information Ltd. Find definitions for ’method study’ and other financial terms with our online QFINANCE Financial Dictionary.

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