Controlling is the management function in which managers set and communicate performance standards for people, processes, and devices. A standard is the benchmark established as the basis for measuring capacity, quantity, value, content, cost , quality or performance. Controlling is about managing risk.
Controls help monitor progress toward established goals.
A standard is either a quantitative or qualitative measurement designed to monitor people, money, capital goods, or processes. Effective controls focus on critical points, integration, acceptability, timeliness, economic feasibility, accuracy, and comprehensibility. Controls can be effective as long as they do what they intend to do, do not generate opposition, and do not result in costs greater than the benefits they provide. From time to time controls may need change or updating due to changes in mission, structural changes, changes in decision making, changes in human relations, or technological changes.