About Lesson
- Flowchart: Flowcharts of reporting links have been found in organizational hierarchies. Work process flows are also documented using flowcharts.
- Checklist: A check sheet is a fundamental quality tool for gathering data. A check sheet could be used to keep track of how many times a specific incidence occurs.
- Control Charts: Also known as run charts are used to plot data points over time and provide a visual representation of the data’s movement. These graphs show if data is consistent or whether there are high or low outliers in data occurrences.
- Scatter Diagrams: Scatter diagrams are graphs that show how variables are related. Variables are frequently used to illustrate potential causes and effects.
- Return on Investment (ROI): Profits are a crucial control device since they measure a company’s total efficiency to its invested capital. It will be used to gauge good performance if the rate of return on investment (shareholders’ cash) is relatively satisfactory.
- Program Evaluation and Review Technique (PERT): The Programme Evaluation and Review Technique (PERT) was first designed as a management tool for coordinating and early completion of the Polaris Ballistic Missile Project in the United States resulted in a 30% decrease in project execution time.
- Management Information System (MIS): Management information system (MIS) is a method of giving timely, adequate, and correct data to the appropriate individual in a company, allowing them to make the best decisions possible.
- Management Audit: An independent agency conducts a management audit to determine whether management is being carried out most effectively or not. If there are flaws at any level, recommendations for improving managerial efficiency should be made.