What is the purpose of controls? Describe any three types of control systems
What will be an ideal response?
Control systems are vital to ensure that any changes to the project baseline are conducted in a systematic and thorough manner. The focus of a control system may be on configuration, design, trends, documents, acquisition, or specification.
Configuration control takes procedures that monitor emerging project scope against original baseline scope. Design control relates to systems for monitoring the project's scope, schedule, and costs during the design stage. Trend monitoring is the process of tracking the estimated costs, schedules, and resources needed against those planned. Document control ensures that important documentation is compiled and disseminated in an orderly and timely fashion. Acquisition control monitors systems used to acquire necessary project equipment, materials, or services needed for project development and implementation. Specification control ensures that project specifications are prepared clearly, communicated to all concerned parties, and changed only with proper authorization.
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All of the following are challenges faced by bricks-and-clicks firms except:
A. coordinating prices across channels. B. handling returns of online purchases at retail outlets. C. building a credible website. D. building a brand name.
If you only use your debit card and ATM card and rarely write paper checks, overdraft protection is still a good thing to have
Indicate whether this statement is true or false.
Does the control, as currently designed, include steps involved in identifying, investigating, and resolving deviations?
Yes _______ No _______ Please briefly explain your answer.
Which of the following is not an objective uncovered through research that drives the management of privately held firms?
A. building a place for the entire family to work and be involved B. becoming wealthy C. avoiding corporations and working for others D. build a lasting “empire” E. change governmental regulations