budgeting

Please do not ask the same question in two different forums.

I do explain both of these in my free lectures.

Feedback control is changing things in the future because of what has happened in the past. An example of this is operational variances. If the manager has used too much material in the past (so an adverse operational variance) then we look for ways of correcting this problem in the future.

Feedforward control is changing what we do in the future because of what we forecast for the future. An example of this is planning variances – maybe our material supplier has increased prices so we look to how we can change what we do (maybe find another supplier for example) to avoid a problem in the future.