Develop fifteen (15) internal control activities using the three major categories of control procedures of the scenario above 5 each under these three categories: a. Performance Review b. Information Processing Controls c. Physical Controls
Critical Path Method
The critical path is the longest succession of tasks that has to be successfully completed to conclude a project entirely. The tasks involved in the sequence are called critical activities, as any task getting delayed will result in the whole project getting delayed. To determine the time duration of a project, the critical path has to be identified. The critical path method or CPM is used by project managers to evaluate the least amount of time required to finish each task with the least amount of delay.
Cost Analysis
The entire idea of cost of production or definition of production cost is applied corresponding or we can say that it is related to investment or money cost. Money cost or investment refers to any money expenditure which the firm or supplier or producer undertakes in purchasing or hiring factor of production or factor services.
Inventory Management
Inventory management is the process or system of handling all the goods that an organization owns. In simpler terms, inventory management deals with how a company orders, stores, and uses its goods.
Project Management
Project Management is all about management and optimum utilization of the resources in the best possible manner to develop the software as per the requirement of the client. Here the Project refers to the development of software to meet the end objective of the client by providing the required product or service within a specified Period of time and ensuring high quality. This can be done by managing all the available resources. In short, it can be defined as an application of knowledge, skills, tools, and techniques to meet the objective of the Project. It is the duty of a Project Manager to achieve the objective of the Project as per the specifications given by the client.
Scenario B: You work as a business manager for a multi-national company. Your department has a regional business office, with six employees and one support staff, in a developing country. At this point, the office has one desktop PC used by the support staff. The six employees are all very experienced and highly competent in traditional business process management techniques. One is a good mainframe IS professional. Their training and experience in using a PC, however, ranges from little to none. Your department has a decentralized philosophy in managing its regional offices. Your Chief Executive believes that positive customer relations are of paramount importance, and local autonomy allows the regional employees to fit into local cultural norms. Despite her decentralized philosophy, the Chief Executive just can’t stand to see this office so far behind the technological times any longer. She has charged you with bringing the office to a one-to-one employee/PC ratio.
Develop fifteen (15) internal control activities using the three major categories of control procedures of the scenario above
5 each under these three categories:
a. Performance Review
b. Information Processing Controls
c. Physical Controls
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