Mission Statement Vs Vision statement

Mission Statement	Vision Statement
States the fundamental purpose of the organization.	Outlines what the organization wants to be.
Concentrates on the present	Concentrates on the future
It defines the customer and the critical processes. It informs you of the desired level of performance	It is a source of inspiration. It provides clear decision-making criteria.
A Mission statement defines the purpose or broader goal for being in existence or in the business and can remain the same for decades if crafted well.	A Vision statement is more specific in terms of both the future state and the time frame. Vision describes what will be achieved if the organization is successful

Functional Audit vs Physical Audit

 

Functional Audit	Physical Audit
Objective: To provide an independent evaluation of software products, verifying that its configuration items’ actual functionality and performance is consistent with the requirement specifications.	Objective: To provide an independent evaluation of a software product configuration item to confirm that components in the built version map to their specifications.
Audit Requirements:   1. Software Requirements Specification (SRS), System Specification (SS) 2.  Waiver or Deviation List Prepared 3.  Verification Test Procedures Prepared. 4.  Verification Test Procedures Reviewed and Approved. 5.  Verification Test Data and Results Reviewed and Approved 6.  Test Results submitted. 7.  Test Readiness Review completed 8.  Test Readiness Review minutes and open action items from past reviews available 9.  Copy of baseline and database change requests with their associated status accounting records along with all design provided	Audit Requirements:   1.  Approved final draft of the configuration item (CI) product specification. 2.  A list delineating both approved and outstanding changes against the configuration item. 3.  Acceptance test procedures and associated test data. 4.  Findings / Status of quality assurance programs. 5.  Manuscript copy of all software CI manuals. 6.  Computer Software Version Description Document. 7.  Current set of listings and updated design descriptions or other means of design portrayal for each software CI. 8.  FCA (Functional Configuration Audit) minutes for each configuration item.

Policy Vs procedures

Policy	Procedures
Policy provides the operational framework within which the institution functions.	If policy is “what” the institution does operationally, then its procedures are “how” it intends to carry out those operating policy expressions.
In other words “a set of principles that are used as a guide for action, esp. in a government or business”.	In other words “a series of actions necessary for accomplishing a particular goal; course of action”
Widespread application	Narrow application
Changes less frequently	Prone to change
Usually expressed in broad terms	Often stated in detail
Statements of “what” and/or “why”	Statements of “how,” “when” and/or and sometimes “who” sometimes “who”
Answers major operational issue(s)	Describes process

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Types, Objectives & Techniques of Review