Statement (II): External failure costs are generated before the product is dispatched as a result of non-conformance to requirements. Which of the following code is correct related to above statements being correct or incorrect?

Statement (II): The duration of a project is not always the same as the duration of its critical path. Statement (III): The Earliest start and finish times of an activity are based on the condition that every activity will not be started and finished as early as possible.

(i) Research phase          (ii) Action phase            (iii) Judgement phase

(i) Act      (ii) Plan           (iii) Do      (iv) Check

Statement II: To succeed in global competition, Production Management of Companies must make a commitment to innovate products and services with high quality at low prices.