Planning refers to the psychological process of thinking and deciding about what is to be done and how is it to be done.
Controlling refers to the process of managing and evaluating the work done in accordance with the standards and taking corrective measures, if there are any deficiencies.
Relationship between planning and controlling function:
(i) Controlling takes place on the basis of standards developed by planning because if standards are not set in advance, managers have nothing to control.
(ii) Planning without controlling is meaningless because once a plan became operational, controlling ensure that the tasks are performed as per plans.
(iii) Planning is prescriptive whereas controlling is evaluative because planning prescribes an appropriate course of action while controlling evaluative whether decisions have been translated into desired action.
(iv) Planning and controlling both are forward looking because plans are prepared for the future while controlling seeks to improve the future on the basis of past experience.
(v) Planning and controlling are both looking back because planning is guided by past experiences while controlling compare actual performance with the standards set in the past.