In the context of controlling, the size of the difference between actual performance and a performance standard is referred to as
A) exception metric.
B) measurement error.
C) variance.
D) critical path.

Question

Quizplus · Accepted Answer

The term variance is used to refer to the difference between actual performance and a performance standard. This difference can be positive or negative, and it is often used as a measure of how well the control process is working. A higher variance indicates that there is less control over the process, while a lower variance implies higher levels of control. The other options (exception metric, measurement error, critical path) are not accurate descriptions of the size of the difference between actual performance and a performance standard.

In the Context of Controlling, the Size of the Difference