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In 1955, seven separate professional organizations came together to form the:
Performance Rating
A quantitative assessment often used to evaluate the efficiency, output, or success of an individual, system, or organization in achieving its objectives.
Normal Time
The average time that a worker takes to complete a specific task under normal working conditions, considering both productive and unproductive time.
Standard Time
indicates the amount of time that should be taken to complete a particular job or task, typically determined through time studies and used for planning and benchmarking.
Variable Allowance
An additional time or financial buffer incorporated into estimates or plans to accommodate uncertainty or variations from the norm.
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