Project Controlling involves ensuring that performance does not deviate from standards. Controlling consists of five steps: (1) set standards, (2) measure performance, (3) compare performance to standards, (4) determine the reasons for deviations and then (5) take corrective action as needed.

Provide detail regarding where project controlling takes place. Who is involved? Describe the risks and cost if controls are omitted during project closure. If possible, reference a project from your present or past work setting.