NAME: MUHAMMAD RIZWAN ROLL #: 5987

Planning involves developing objects and preparing various budgets to achieve those budgets. . We can say plan is to produce schemes for future action, to bring about specified

results and specified cost, in a specified period of time. It is a deliberate, extent, speed and effects of change. As a tool for planning, the system must be able to: Planning helps in achieving economies. Planning facilitates controlling. Planning provides competitive edge. Identify those indicators that will be used for measurement Establish direct labor budgets Establish overhead budgets Identify management reserve Determination of type, amount, and timing of necessary resources The project budget that is the final result of the planning cycle must be reasonable, attainable, and based on contractually negotiated costs and the statement of work. The basis for the budget is historical cost, best estimates, or industrial engineering standards. 310 Controlling involves the steps taken by management to increase the likelihood that the
objectives set down at the planning stage are attained and that all parts of the organization are working together toward that goal

Controlling is a procedure for measuring performance against objects. Controlling consist in verifying whether Everything occurs in conformity with the plan adopted the instructions issued and principles established. Its object is to point out weaknesses and error in order to rectify them and prevent recurrence.

In short controlling facilitates the compliment of the plans. Although planning must preside controlling, plans are not self achieve. Plans guides manager in the use of the resources to the accomplished goal. Them activities are cheek to determine where confirm to plans. Some meaning of controlling like budget for expanse, in checking the record of labour hours lost. Each measure and each had shown where plans are working out. If devotion perishes, correct is innervated but what are correct activities through person.