Management function of controlling is the process whereby organization sets itself performance objectives and strives to achieve them as best it can over time. It is a method for managing the performance of the organization. It is the process oriented to verify the advancement status of the planned objectives as well as the efficacy and efficiency of the organization through the analysis of the resources, costs and proceeds.
Controlling is one of the important functions of management. It pinpoints the deviations on the basis of which management can take corrective actions. Without the function of controlling, work done in the organization is not systematic and as per plans, since the inefficiencies remain undetected.
For achieving the objectives and targets, it is necessary that the actual performance is assessed from time to time to ensure that what is being achieved is in conformity with the objectives and targets.