What You mean by "control"?
If you are looking for solution to installremove application
the answer is
"Yes" - You can deploy software using GPO.
If You are looking for a way to restrict or permit running
specific
application the answer is "Yes" - You can control application
using Software
Restriction policy in GPO.
If You are looking a way to control licenses etc. the answer
is "No" - there
are other products for this like SMS 2003.