This document discusses the calculation and importance of standard minute value (SMV) in the apparel industry. It defines SMV as the basic time plus allocated allowances needed to produce a garment. Basic time is calculated as the observed time multiplied by a rating factor and represents the likely minimum time required. Observed time is the recorded time taken under close observation. Rating factors adjust for worker speed. SMV is important for costing, setting targets, measuring efficiency, and planning factory production. Formulas are provided for calculating basic time and SMV from observed cycle times under different conditions.