What is Priviledged Account Controls?

A privileged account is a user account that has more privileges than ordinary users.
Privileged accounts for example, include admin accounts that may be able to install or remove software, upgrade the operating system, or modify system or application configurations. These are accounts that have more control over the system and can perform more actions than any other normal user.

Privileged Account Control is used to allocate privilege level to a user i.e. it is an Access Control which determines the level of control a user may have. Depending upon the privilege level assigned to a user, the user may have any of the following rights.
* Read
* Write
* Own

Usually someone with less privilege will have only Read rights while the one with highest privilege will have all 3 (Read, Write, Own) rights