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Can you please tell me the types of standards such as Basic standard, Ideal standard, Current standard, and Expected standard and where they are being used?
I was unable to understand them completely? I hope you would not mind
To the extent that they are relevant for Paper PM, they are explained in our free notes and lectures on basic variance analysis.
Sir, I wonder where these types of standards are used in F5?
1) Basic standard
These are the basic standard that company set and they could be easily achieve2) Ideal standard
These are the ideal standards that the company set and it is impossible to reach those standard3) Current standard
These are the current standard that we are considering4) Expected standard
This is what we expect the standard to be in the future but it might be wrong because they are based on estimatesPlease correct me if I am wrong
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