This textbook is written for academic courses and practicing professionals. For the purpose of academic courses, the book is written as a core text for graduate and postgraduate students who want to acquire in-depth knowledge of the production controlling concept. For specialists like controllers, analysts, accountants, auditors, and other similar professions, the book provides an opportunity to apply their knowledge of the methodology that is to be used in strategic and operational process controlling. The five chapters of the textbook describe the essential approach to production controlling adapted to the needs of both students and professionals. Chapter 1 introduces the technological basis – Big Data. Cyber- physical systems are introduced for the purposes of business model creation and controlling. The introduction covers the impact of digitalization, and Chapter 2 describes the concrete concept of smart production, new forms and benefits of industrialization, business model in relation to smart production and economic dimension of Big Data, and the role of controllers. Chapter 3 discusses key performance indicators and a ratio system that can be used for controlling purposes. Chapter 4 deals with production process controlling starting with their components and determinants as success factors. Strategic and operational process controlling is described in detail by the methods and key performance indicators of value stream controlling. Production business model controlling is covered in the fifth chapter in which methodology is presented as a combination of process-oriented production controlling, supply chain controlling, and corporate controlling. Business model controlling methodology is based on innovation in production engineering and computer science, which calls for powerful IT business applications.