Exception Based Reporting
As Loss Prevention is constantly changing, as well as the methods used to detect losses, there has been an increase in data collection. These changing strategies has shown the importance of exception-based reporting.
Exception Based Reporting is a process that requires data analysis. It uses a system to move information to an established and recognized set of data. An exception report is used to track certain features of any situation occurring within a project or plan which can then be communicated to the project management team.
What is exception based reporting?
Exception based reporting revolves around a method of data analysis, which evaluates new data from a system to an established set of data, which then identifies certain things that diverge from the norm.
What should be in an exception based report?
Information within an exception report should be clear in what happened and where the irregularity arose, for example, at what point it happened within the process. It should also indicate how the exception will influence the organization.
What is the need of exception reports?
The aim of an exception based report is to clearly find if there is an anomaly or where something has gone wrong.
Who typically prepares the exception report?
Normally an exception based report is formed via the project manager of an organization.
Updated on 05/09/2022