The actuarial control cycle is a specific business activity which involves the application of actuarial science to real world business problems. The actuarial control cycle requires a professional within that field (i.e. an actuary) to specify a problem, develop a solution, monitor the consequences thereof, and repeat the process. The Society of Actuaries in the US is increasingly integrating the actuarial control cycle into the examination/qualification process as a framework that helps to define actuarial projects.
Famous quotes containing the words control and/or cycle:
“There is one thing you and I as parents cannot do, not do we want to do if we really think about it, and that’s control our children’s will—that spirit that lets them be themselves apart from you and me. They are not ours to possess, control, manipulate, or even to make mind.”
—Barbara Coloroso (20th century)
“Oh, life is a glorious cycle of song,
A medley of extemporanea;
And love is a thing that can never go wrong;
And I am Marie of Roumania.”
—Dorothy Parker (1893–1967)