CH 10 Flashcards
Monitoring Process
Evaluating performance, identifying deviations, and ensuring effective management.
Management Information System (MIS)
A system that gathers and presents data for measuring performance.
Standards
Metrics used to measure performance, established during planning.
Historical Standards
Performance measures based on past data (internal or external).
Engineered Standards
Performance measures based on a work analysis.
Assessing Performance
Comparing actual performance to established standards.
Simplicity (MIS)
Easy-to-understand and compare data in the MIS.
Accessibility (MIS)
Quick and easy access to information in the MIS.
Merge Capability (MIS)
Combining internal and external data in the MIS.
Adaptability (MIS)
Flexible MIS that handles changing situations.
Historical Standard - Advantage
Readily available, based on prior performance.
Historical Standard - Disadvantage
May perpetuate outdated practices.
Engineered Standard - Example
Premium transactions per employee.