MANAGEMENT BY EXCEPTION

A review of current data allows managers to compare actual; performance against standards or plans
These comparisons will reveal deviations from the plan and, if substantial, will lead to further investigations
This approach is an example of management by exception- leave matters to subordinates down the line and intervene only when there is evidence of deviation from the plan
Advice to managers
Monitor for success - not control for its own sake:
Only intervene where deviation is substantial
Feed back results to allow subordinates to correct minor deviations
Keep a focus on strategic goals
If you micro-manage you will not be able to see the wood for the trees
Monitor selectively
Focus on variables that of great significant and those that provide early warning of major problems
And always avoid paralysis by analysis
Evaluation and modification
The evaluation of performance should lead an ongoing review process
Where necessary, modify plans and take corrective action to ensure put the organisation back on course to achieve its objectives
Planning is not a one off event but a continuing process:
The implementation has to be fine tuned during the period of the plan
Results from the plan will be fed into next years plan
A final thought
"Planning without action is futile Action without planning is fatal