Yes. It means they "control" the circumstances of the delivery. They may deliver the package in a number of ways but generally, not always, it will require your signature. Once there is indicia of receipt and acceptance, you'll be face down in the rug and your family will be crying, assuming they have a search warrant.
Remember, in a controlled delivery they've already checked the contents of the package to make sure that it contains a controlled substance. There will be a very interesting and detailed chapter covering this topic as well as search warrants and other related matters in the new book LEGAL MUSCLE.