L1

• CONTROL PROCESS

  • Ensures that every act of a busi is furthering its goals.

  • W/o the CP entire mgmt is obsolete bec one won’t be able to know how the plan is working, is it fully implemented.
• CONTROL PROCESS

  • Helps managers in evaluating their org‘s perf.
  • By using it effectively, one can decide whether to change plans/continue as they are.
• CONTROL PROCESS

  • The system that allows setting, measure, match & tweak any business acts like:
  • Production
  • Packaging
  • Delivery etc.
• CONTROLLING

  • Essential part of mgmt process

  • Aims at achieving defined goals within an est timetable

  • Comprises four steps of control process.
• Four Steps of Control Process

  1. Establishing standards and methods for measuring performance.
  2. Measuring performance.
  3. Determining whether performance matches the standard.
  4. Taking corrective action.
• Four Steps of Control Process

  1. Establishing standards and methods for measuring performance.
  2. Measuring performance.
  3. Determining whether performance matches the standard.
  4. Taking corrective action.
• TAKING CORRECTIVE ACTION (CA)

  • Becomes essential if perf doesn’t meet stan & the analysis shows CA is req.
  • Could involve a change in one/more acts of the org‘s ops.
  • CNT can reveal inappropriate stans & in that case, the CA could involve a change in the orig stan rather than a change in perf.
• TAKING CORRECTIVE ACTION (CA)

  • It needs to be mentioned that MNGS are merely monitoring perf rather than exercising CNT---
  • ---unless MNG see the control process through to its conclusion,
  • The emphasis should always be on devising constructive ways to bring perf up to a standard rather than identifying a past failure.
• QUALITY CONTROL

  • Important aspect in the relationship with a supplier.

  • To ensure that all contractual oblig have been met, a verification by an indie 3rd party can save a lot of trouble in the long run.

  • Quantity and quality control tend to affect the org’s operational efficiency.
• BUDGETING & COST CONTROL (CC)

  • Provides an org with a financial road map.

  • CC helps ensure that its operating processes are within prescribed financial guidelines.

  • Budgetary & cost control tend to affect org’s financial efficiency.
• BUDGETING & COST CONTROL (CC)

  • A budget identifies the planned expenditure for a project, program,/portfolio.
  • Forms the baseline against which the actual expenditure & predicted eventual cost of the work is reported.
• BUDGETING & COST CONTROL (CC)

  • Initial cost est are based on comparative/parametric estimating techniques.
  • These are refined as the achievability & desirability of the work are investigated & a detailed understanding of scope, schedule, & resource is developed.
• The base cost is the cost of the work according to the schedule. This is typically made up from costs associated with:

  • Resources

  • Accommodation & Infrastructure

  • Consumables

  • Expenses

  • Capital Items
• The base cost is the cost of the work according to the schedule. This is typically made up from costs associated with: Resources like

  • Staff

  • Contractors
• The base cost is the cost of the work according to the schedule. This is typically made up from costs associated with: Accommodation & Infrastructure like:

  • Office rental

  • Support for ICT systems;
• The base cost is the cost of the work according to the schedule. This is typically made up from costs associated with: Consumables like:

  • Power

  • Stationary
• The base cost is the cost of the work according to the schedule. This is typically made up from costs associated with: Expenses like:

  • Staff travel & subsistence
• The base cost is the cost of the work according to the schedule. This is typically made up from costs associated with: Capital items like:

  • Equipment purchase