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CONTROLLING

Overview of Control

Controlling is defined as a systematic effort to

set performance standards with planning objectives.

Control Process

Establishes Standards of Performance
Establishes Standards of
Performance
Measures Performance
Measures Performance
Take Corrective Action
Take Corrective Action
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Overview of Control

Types of Control

1. Pre-action Controls

2. Steering Controls

3. Screening Controls

4. Post Action Controls

Controls 2. Steering Controls 3. Screening Controls 4. Post Action Controls Controlling * Property of STI
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Features of an Effective Control System

1.

Accurate and adequate

2.

Timely and relevant

3.

Economically and organizationally realistic

o

Objective, Measurable and Comprehensible

o

Flexible and acceptable

Objective, Measurable and Comprehensible o Flexible and acceptable Controlling * Property of STI Page 3 of
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Financial Controls

1. Financial Statements

o

Balance Sheet

o

Income Statement

2. Ratio Analysis

Profit after Taxes Total Assets

Profitability Ratio

Total Debts Total Assets

Leverage Ratio

Current Assets Current Liabilities

Liquidity Ratio

Sales

Inventory

Activity Ratio

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Financial Controls

3. Break-even Analysis

TR

Revenue Cost

PROFIT
PROFIT

TC

BREAK-EVEN POINT

50

Fixed Cost

Quantity

LOSS

50

TR > TC = denotes PROFIT while;

TR < TC = denotes LOSS

4. Budgets

5. Audits

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Production Control 1. GANNT Chart (Henry Gannt) Gantt Chart Diagram used for Automobile Production
Production Control
1. GANNT Chart (Henry Gannt)
Gantt Chart Diagram used for Automobile Production
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Production Control

2. Network Techniques

a. PERT

F0086 Production Control 2. Network Techniques a. PERT Involves 4 categories: o Optimistic (OT) o Most

Involves 4 categories:

o

Optimistic (OT)

o

Most probable ( MPT)

o

Pessimistic (PT)

o

Expected (ET)

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Production Control

b. CPM (Critical Path Method)

F0086 Production Control b. CPM (Critical Path Method) 3. Quality Control Methods Used: o Inspection o

3. Quality Control

Methods Used:

o

Inspection

o

Testing

o

Sampling Techniques