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Control charts for statistical quality control have been the subject of academic study for many years. Various analytical approaches to economic control chart design have been advanced, although none has found wide use in practice. Describes a simulation approach to the investigation of control chart economics. Simulation can provide guidance on chart design issues such as sample size, sampling interval and the use of alternative chart alarm rules. Applies the method to the economic comparison between variables control charting and other inspection strategies such as 100 per cent inspection. Presents some generalized results, allowing comparison to be made for various scenarios. Emphasizes the importance of process capability in the choice of quality control strategy and demonstrates the economic advantages of control charting where special or assignable causes exist.

THE British Motor Corporation has taken an important step in setting up a new centre to give a thorough training in modern management and techniques to many of its own people. Of course, Haseley Manor, the Corporation's staff college for almost ten years, has done much to weld together the constituent companies which make up the parent body and it created a climate of good management during a period of rapid growth.

The most important function that facilitates construction organizations to accomplish profit maximization is cost control. However, the absence of a well‐established cost control system has caused failures to many Thai contractors especially during the current economic recession period. To comprehensively understand cost control systems in practice, this study theoretically assessed effectiveness as well as the deficiencies of the ‘traditional’ systems vis‐à‐vis the ‘effective’ systems. In addition, by contrasting what are found in ‘effective’ systems but not found in ‘traditional’ systems, critical attributes most contributing to the systems' successfulness were identified so that the improvement steps can be suitably prioritized. The validated findings indicated remarkable contrasts between ‘traditional’ and ‘effective’ systems. Two critical aspects, including advancement of cost control framework and systematic participation of site personnel in cost control, were found to be the major differences. Interestingly, similar conditions were encountered in various countries such as Greece, Pakistan and Australia; hence suggestions from this study could be internationally useful.

Prior research suggests that goal setting with an emphasis on accurate and tight budget targets may influence the extent of subordinates' performance. This study, however, argues that such goal setting alone is not sufficient. The implementation of other accounting controls is needed before improved performance is possible. Specifically, this study investigates: (i) if budgetary performance is increased only when an emphasis on accurate and tight budget targets is complemented with a high extent of cost control; and (ii) if these effects are found only for the production function, but not for the marketing function. The results, based on a sample of 104 senior Australian managers, support a significant two‐way interaction between an emphasis on tight budget targets and cost control affecting budgetary performance. Budgetary performance is high only when both emphasis on tight budget targets and cost control are high. These results are applicable to both the production and marketing functions.

METHOD STUDY, as the name implies, is that part of Work Study which makes a careful and critical examination of the methods currently employed either in factory or office. It is not concerned with standards of performance or schemes for payment by result. Instead, it aims at cutting out movements or efforts which are not necessary and, in general, improving the methods in use. It uses charts and diagrams; cameras to record still or moving pictures; models and measuring instruments. Uninterrupted attention is concentrated on the study in hand for whatever time it requires.

In the continuing endeavour to work towards ever better management, experience plays a crucial role. We learn from success, but we can learn much more from failure. Further, it is far better and cheaper when we learn from other people′s failures rather than our own. This monograph assesses the requirements of project management in relation to industrial projects, illustrating the factors that can result in failure by means of a series of case studies of completed and abandoned projects worldwide that have failed in one way or another. The key roles played by project planning and project cost control in meeting and overcoming the practical problems in the management of industrial projects are examined in detail. In conclusion the lessons that can be learned are evaluated and presented, so that we may listen and learn – if only we will.

In the last four years, since Volume I of this Bibliography first appeared, there has been an explosion of literature in all the main functional areas of business. This wealth of material poses problems for the researcher in management studies — and, of course, for the librarian: uncovering what has been written in any one area is not an easy task. This volume aims to help the librarian and the researcher overcome some of the immediate problems of identification of material. It is an annotated bibliography of management, drawing on the wide variety of literature produced by MCB University Press. Over the last four years, MCB University Press has produced an extensive range of books and serial publications covering most of the established and many of the developing areas of management. This volume, in conjunction with Volume I, provides a guide to all the material published so far.

Preface The functions of business divide into several areas and the general focus of this book is on one of the most important although least understood of these—DISTRIBUTION. The particular focus is on reviewing current practice in distribution costing and on attempting to push the frontiers back a little by suggesting some new approaches to overcome previously defined shortcomings.

COMPARISONS are often made between the way in which Britain utilises its manpower and the manner in which it is deployed by other major industrial nations. They are generally unfavourable to this country. To recognise the existence of a problem is wise; to devise means to overcome it, especially when it is of such magnitude, is even wiser.

This paper aims to identify and analyse the factors affecting the selection of effective cost control techniques in the UK construction industry and assess their importance. The study examines these key areas; the factors that have significant impacts on cost overruns, the most effective cost control techniques and the factors for selecting cost control techniques for a project.

The study relies on a mixed-method research approach; a qualitative exploration of the most effective cost control techniques and the factors affecting the selection of cost control techniques, followed by a questionnaire survey and follow-up interviews. Relative importance index (RII) is used for ranking the factors.

The budgeting technique is ranked first with-0.821RII, followed by cost forecasting-0.800RII and cashflow monitoring-00.733RII, as the most effective cost control techniques. On factors that influenced the choice of the techniques used, cost information/cost-related factors are ranked first with-0.611RII, followed by the size of the company-0.509RII and the effectiveness of the technique-0.572RII.

Although the scope of the study was limited to the UK construction industry, the results could be interpreted for critical learning in other developed/developing countries.

Identifying and ranking the factors affecting the selection of effective cost control techniques in the UK construction industry has been the focal point of this study. The study also proposes a simple but effective model which can be used for critical learning on mitigating cost overruns and the effective use of cost control techniques in the construction industry.