Step 1: Time Study:
Time study measures the time a trained worker takes to complete a job, or each part of a job, under normal conditions.
Several readings are taken and then a standard time for the job is fixed. Time for rest and unavoidable delay is also allowed.
The standard time is used to set a fair daily target, to plan the work, to calculate the labour cost and to pay incentives.
Step 2: Method Study:
Method study is the search for the one best way of doing a job. All the methods that are in use are studied and compared.
The steps are to record the present method, examine it, and then to design the best method which is simple, quick and low in cost.
It reduces the cost of production and raises the quality and the output, and then a standard method is put in practice. For example, finding the best way to pack goods in a factory.
Final Answer:
Time study fixes the standard time for a job, and method study finds the best way to do the job.