What is Management Audit

Management audit is a systematic and impartial examination, analysis and appraisal of management’s overall performance. It is basically a procedure of appraisal of management’s total performance by means of an objective and comprehensive examination of the organisation structure, its objectives, plans and policies, its operation and its use of physical and human resources, and methods of operation. Thus ‘management audit’ Read More …

What is CPM (Critical Path Method)

CPM was developed by the engineers of the Du Pont Company in the 1950s for its application in all scheduling work, construction projects, research and development programmes and in many other situations that require estimates of time and performance. It calls for dividing a programme or project into its elementary parts in their chronological order of sequence. By breaking a Read More …

What is PERT (Programme Evaluation and Review Technique)

The key to success of most organisations is to clearly examine the projects or activities for the achievement of an objective within stipulated time and cost. Management is then required to determine detailed activities and their interrelationships, to estimate resources required and the time needed to complete these activities as per schedule, and to monitor and control the time and Read More …