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Strategic Cost Analysis by Roger Hussey

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Chapter 4

Monitoring and Control

About This Chapter

Control is a feedback system that covers both the action that implements the strategic decisions and the performance evaluation of personnel and operations. As a manager, you use feedback from financial performance reports that you normally receive at least monthly but possibly weekly, or even in real time. These reports may have different titles, but for your managerial responsibilities, the reports show the organization’s financial plan for a period, the actual performance achieved, and the difference between the two, which is called the variance.

You use the performance report specific to your responsibilities to identify activities that are not conforming to the organization’s plan and ...

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