The ‘Controlling’ Function<br />Principles of Management<br />
What is Controlling?<br />Simply put…<br />It is the process of monitoring activities to ensure they are being accomplished as planned and correcting any significant deviations.<br />
Why is it needed?<br />To cope with changes… internally & externally<br />To facilitate delegation and teamwork <br />To create better quality and add value<br />This will in turn, lead to:<br />Judge accuracy of the standards that were set<br />Improve performance <br />Minimize undesirable behaviour<br />
Understanding the Control Process<br />Establish standards<br />Quantity / targets, Quality, Monetary and Time-related<br />Monitor performance<br />Periodically checking and correcting minor deviations / problems<br />Measure actual performance<br />Actual measurement over a pre-decided time period. Eg: annually, half-yearly.<br />Take corrective actions<br />Post evaluation of ‘where one stands’, the co. takes actions to ensure original plans are met.<br />
So in Essence, Controlling is…<br />Both anticipatory and retrospective. <br />The process anticipates problems and takes preventive action. <br />With corrective action, the process also follows up on problems.<br />
An Effective Control System Needs to have:<br />Acceptability by all those who will enforce decisions <br />Flexibility <br />Accuracy <br />Timeliness <br />Cost effectiveness <br />Balance between objectivity and subjectivity <br />Coordinated with planning, organizing and leading <br />
Controlling Techniques<br />A variety of tools and techniques are used to help the manager control activities in their areas. <br />
Types Of Controlling Techniques<br />Traditional Techniques<br /><ul><li>Personal observation
PERT </li></ul>(Programme Evaluation & Review Technique)<br /><ul><li>BUDGETING</li></li></ul><li>What is the GANTT chart?<br /><ul><li> A Gantt chart is a type of bar chart that illustrates a project schedule.
Gantt charts illustrate the start and finish dates of the terminal elements and summary elements of a project.
Terminal elements and summary elements comprise the work breakdown structure of the project.</li></li></ul><li>Illustration<br />
Programme Evaluation & Review Techniques (PERT)<br />Definition:<br /><ul><li>Project management technique that shows the time taken by each component of a project, and the total time required for its completion.
PERT breaks down the project into events and activities, and lays down their proper sequence, relationships, and duration in the form of a network.
PERT is a scheduling tool, and does not help in finding the best or the shortest way to complete a project.</li></li></ul><li>PERT Diagrams<br />