5. Project control

The above applies to recurring, repetitive activities. From period to period, we seek to monitor performance, improve results and avoid their deterioration. Productivity, quality, etc. are monitored.

But there are also non-recurring activities that fall under the heading of "project management".

• A project is characterized by the fact that we are entering uncharted territory: we have no history or statistics to give us an exact idea of costs and chances of success. A research program, the launch of a new product, the implementation of a major investment, a change in management system (e.g. ERP implementation), will necessarily involve random aspects which are not totally controllable.

  Nonetheless, it's important to stick as closely as possible to the planned schedule and budget, so that the...