Solution
Option 1 -> Setting Standards: This involves establishing performance benchmarks and targets, but the question mentions standards already exist ("against the standards").
Option 2 -> Measuring Actual Performance: This step involves collecting data about actual work done, not assessing it against predetermined standards.
Option 3 -> Corrective Measure: This refers to taking action to fix deviations or problems identified, not the review/assessment process itself.
Option 4 -> Comparing actual performance with standards: The phrase "assess their performance against the standards" directly indicates comparing what was actually achieved with the predetermined standards during the weekly review.
Hence, Option 4: Comparing actual performance with standards -> The weekly review system where the team "assess their performance against the standards" is clearly the comparison step of the controlling function, where actual results are evaluated against predetermined benchmarks to identify deviations -> correct