function of planning_and_control

Jun 28th, 2015
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PROJECT PLANNING AND CONTROL PROJECTS AND MANAGEMENT • Project: series of related jobs usually directed toward some major output and requiring a significant period of time to perform. • Project Management: planning, directing, and controlling resources (people, equipment, material) to meet the technical, cost, and time constraints of the project.

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CONTROLLINGIntroductionControl is the last function of management.Planning identifies the activities and controllingregulates the activities.Success or failure ofplanning depends upon the results of success orfailure of controllingDEFINITION Control is any process that guides activitytowards some pre-determined goal. The essence ofthe concept is in determining whether the activityis achieving the desired results.AREAS OR SCOPE OFCONTROLControl over the policies of the concernControl over organizationControl over the personnel employed in theorganizationControl over capital available to the concernControl over productionControl over the cost of productionControl over tools and equipments.Requirements of effective controlsystemFeedbackObjectiveSuitabilityPrompt reportingForward lookingFlexibleIntelligibleMotivationTechniques of controlStatistical control reportsPersonal observationCost accounting and cost controlBreak- even analysis (CVP ANALYSIS)Management auditReturn on investmentInternal auditResponsibility accountingExternal audit controlZerobase budgetingCharacteristics or features ofcontrolContinuous processUniversalForward lookingDynamic processAn essence of actionNEED OF CONTROLJudging the accuracy of standardsMinimize dishonest behaviorBetter perform

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