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Environmental Management: Concept, Scope and Aspects of Environmental Management! PLANNING. Materials management is concerned with management functions supporting the complete cycle of material flow, from the purchase and internal control of production materials to planning and control of work in process, to warehousing, shipping and distribution of the finished product. MEANING. The scope of the essential Project Management is covered in five different phases. The questions in this quiz offer you some real-life scenarios to test your understanding. Nature of Management: Universal Process: Wherever there is human activity, there is management. It should provide organized and relevant information for all levels of management: strategic, operational, and tactical. A factor which influences all other budgets is called key factor. A.The life cycle phases B It includes all the topics given in NCERT class 12 Business Studies text book. 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