Chat with P3 tutor - 25 May 2011

[16:00:49] gromit : how's P3 going? [16:00:59] dineo1212 : so so [16:01:06] gromit : ! [16:01:22] dineo1212 : u just never know with p3 [16:01:29] beangeloz : P3...OMG, i so hoping for the best. i just hv to pass [16:01:37] mahesh0012 : guys what do u think p3 question 1 will cover [16:01:39] gromit : you tried it before? [16:01:43] dineo1212 : u think u've got that concept & it backfires [16:01:48] gromit : ok [16:02:08] declan1w : {gromit} hiya [16:02:14] gromit : hi [16:02:29] beangeloz : @dineo: p3 is a just somethg else [16:02:45] dineo1212 : {beangeloz} i know hey [16:02:56] declan1w : linking models is important for section A what do you all think [16:03:11] beangeloz : sure@declan [16:03:13] dineo1212 : ok,so whats the approach for today? [16:03:25] gromit : You ask questions, I try to answer [16:03:30] gromit : no set pattern [16:03:37] dineo1212 : ok,awesome [16:03:58] beangeloz : shoots, lets all learn [16:04:53] declan1w : ok in portters diamond what does firm strategy structure and rivalry mean [16:05:17] gromit : Well, rivalry = conpetition. So to get world class you have to [16:05:29] gromit : get really good at home through competition [16:05:56] gromit : struture etc a bit more obscure. Don't worry about it too much [16:05:59] bluetopaz : hi gromit, just stopping by to say thanks for the advise last sitting. passed my P3 :) [16:06:08] gromit : great [16:06:14] gromit : Thanks for your kind words [16:06:19] mahesh0012 : is there any importance for NFP organisation to make the competive strategies or not?????
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[16:06:30] mahesh0012 : as porters strategic [16:06:34] mahesh0012 : and the clock [16:06:57] gromit : {mahesh0012} Interesting questions. NFP shold not be in competition, but they often are for funds [16:07:00] satesh : I clrd my P3 [16:07:15] gromit : They don't have to make money [16:07:21] sherlock : in project management do we have to memorise some key point such as elements of business case for example [16:07:22] gromit : but do have to collect it [16:07:32] satesh : Its a good paper... I wish u all best of luck [16:07:40] mahesh0012 : strategic clock [16:07:48] gromit : Comptitive strategies not quite so important in NFP [16:07:48] declan1w : {satesh} thank you [16:08:23] gromit : {sherlock} Well, you have to have an idea what they are [16:08:26] satesh : Anyone attempted or practised the last attempt paper Dec 2010 [16:08:31] mahesh0012 : do anyone know the answer of my questions [16:08:38] gromit : but different people list them slightly different;y [16:08:46] leonisbenedictus : hi [16:08:48] declan1w : {mahesh0012} i intend to ignore the clock as similar to generic [16:09:09] mahesh0012 : if you dont know then i can tell???? [16:09:23] gromit : {gromit} Thought I'd answered your Q [16:09:32] sherlock : how to deal with section a? we read requirement first then? [16:09:35] mahesh0012 : not intrested in learning [16:09:36] gromit : {mahesh0012} Thought I'd answered your Q [16:10:05] gromit : {sherlock} Read requirements to warn you about what Q is about [16:10:20] gromit : then use your 15 minutes reading to read, re-read and annotate it [16:10:41] mahesh0012 : yeah so is it important for them [16:10:50] mahesh0012 : u are at the exact right path [16:11:06] gromit : Not very interms of cost leadership/differentiation
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[16:11:26] beangeloz : how do you know when you are writing the right thing, not out of point [16:11:30] gromit : focus might be [16:11:40] leonisbenedictus : {declan1w} hi. i came late. what r wwe doing pls? [16:11:42] mahesh0012 : whats the disadvantages of the porters value chain????????? [16:11:56] gromit : so a NFP could focue on one charitable area (say) and use that as a way to gain income form donationsetc [16:12:17] declan1w : {leonisbenedictus} hi gromit is answering our questions [16:12:19] gromit : {mahesh0012} I'm not sure there are any [16:12:28] leonisbenedictus : {declan1w} thanks [16:12:54] beangeloz : how do you know when you are writing the right thing, not out of point [16:12:56] gromit : {mahesh0012} It tries to tell a copmany to know why their customers pay enough for profits [16:12:59] gromit : value added [16:13:57] declan1w : any strategy for reading question what should i keep in mind companies mission or objectives etc ?? [16:14:36] gromit : {declan1w} Not really - each is unique. Read requirements first then see what info is in Question [16:15:49] dineo1212 : I was going through WETLAND TRUST(JUNE2010),(a) required an assessment of the strategic position (environ,capability,stakeholders)....how do I answer such a Q?should i use ONLY 1 model for each section? [16:16:10] mshaka : is there any chance of varience analusis coming in june exam? [16:16:21] mahesh0012 : yeah i think [16:16:43] gromit : {dineo1212} I think the use of models overlaps a bit. Models are there to help you make [16:16:58] gromit : sense of what's going on. So use models as they are useful [16:17:14] gromit : but make sure you answer all the question requirements [16:17:21] declan1w : i can only cope with one model at a time any tips on combining [16:17:34] gromit : {mshaka} Not do create/calculate variances. ONly to interpret them [16:17:44] mshaka : ok
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[16:18:04] gromit : {declan1w} That's OK too. You could have a para for each and that would be fine [16:18:11] mahesh0012 : does the chapter suck as straqtegy and people are important for exam perspective [16:18:21] dineo1212 : but i think there were calculations in kaplan mock,i think... [16:18:34] mahesh0012 : such as [16:18:45] gromit : {dineo1212} Haven't seen it. I can't imagine you will be asked to calculate a variance [16:18:58] dineo1212 : let me check,1 sec [16:19:03] mahesh0012 : such as strategy and people [16:19:13] gromit : {mahesh0012} 'People' is a syllabus section, so important [16:19:37] gromit : See recent SA article on strategy and people [16:19:47] mahesh0012 : ok [16:20:07] mshaka : first senario q is always on real world current problems / senarios [16:20:18] mshaka : wht do u think wt r cureent senarios [16:20:26] gromit : {mshaka} It seems to be based on real companies [16:20:41] gromit : but I know that the next 4 exams are already written by the examiner [16:20:53] mshaka : any prominent happend recently [16:20:55] gromit : so they won't be up to date with respect to reality [16:21:27] mshaka : i spotted MS acqiured skype [16:21:35] gromit : Examiner is a consultant and sometimes the scenarios are based on his experience, so not widely known [16:21:36] mshaka : wht do u tink [16:21:53] gromit : {mshaka} Too recent, see my comment above [16:22:02] mshaka : okkk [16:22:02] declan1w : is it worth covering governance [16:22:34] gromit : Not much, Ethics more important I think because strategy can have an ethical dimension [16:23:18] mahesh0012 : can we write the contingency theory in the scenerio if the question ask about to use any of the tools ??? [16:23:32] mahesh0012 : will contingency fit in all the tools as disadvantages [16:23:44] dineo1212 : ok,got it
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[16:23:49] gromit : {mahesh0012} Not sure I understand you [16:24:07] racheal : hello [16:24:18] mahesh0012 : do you know about contingency theory ??? [16:24:28] mshaka : i don t know [16:24:32] console125 : {gromit} i havent done any past question yet but comleted the syllabus ,so wht u suggest i do now,,,any important practice question? [16:24:33] mshaka : hint plz [16:24:54] mshaka : {mahesh0012} [16:25:27] dineo1212 : it says Evaluate the existing product portfolio of AFR (NB:there are up to 7marks available for calculations in this requirement) [16:25:30] gromit : {console125} Work throught the exams fro 2008, 2009, 2010 [16:25:38] v123c : {gromit} do we have to read any articles? [16:25:53] console125 : u mean last six sitting papers [16:26:04] gromit : {v123c} Articels are easy to read I think. Bettern than many texts and all approved by examiner [16:26:12] gromit : {console125} yes [16:26:19] mahesh0012 : contingency approach states that no approach will be suitable in any of the situations , the main thing is all the environment are complex and so we need to tackle with different strategies [16:26:20] gromit : perhaps not Dec 2010 [16:26:36] mahesh0012 : in summary it states that nothing is the best approach [16:26:44] gromit : {mahesh0012} and... what will you advise epople to do? [16:26:46] mshaka : {mahesh0012} okkk [16:26:58] sherlock : {gromit} product portfolio means we use bcg matrix or product life cycle? [16:27:13] lydie1 : {gromit} why not Dec 2010? [16:27:16] gromit : {sherlock} Both - prob BCG is better [16:27:22] mahesh0012 : i advice to link this approach to any question if the question specify the tools as the disadvantage [16:27:35] gromit : {lydie1} ONly because there is some attempt to cysle throug syllabys [16:27:38] declan1w : ok if there are 20 points for a SWOT and i cover 20 points maybe get 15 but if i cover 25 does examiner take first 20 or what or best 20
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[16:27:54] console125 : {gromit} ok\ [16:28:03] dineo1212 : {gromit} so can we expect such Qs to pop up in the exam? ""it says Evaluate the existing product portfolio of AFR(NB:there are up to 7marks available for calculations in this requirement)"" [16:28:12] lydie1 : ok [16:28:35] gromit : {mahesh0012} Nothing wrong with saying that, but saying that no approach is right is not a great insight and is a given. Better to try to give solid advice [16:29:27] mahesh0012 : <gromit> thanks for the advice [16:29:31] gromit : {dineo1212} I don't know the question, but I would have thought any calculatoins would be simple and that 7 is too much [16:29:39] gromit : {mahesh0012} ok [16:29:49] dineo1212 : ok [16:29:58] mshaka : how we should answer bullet points / paragrphs [16:30:17] gromit : {declan1w} They say they take the best 20, but you waste time writing the others [16:30:31] declan1w : {gromit} thanks [16:30:31] gromit : {mshaka} depends on requirements. [16:30:35] racheal : Is forecasting gonna come in june? [16:30:53] gromit : Rarely will one or two word bullets be good in theis exam. [16:31:06] gromit : Usually you are required to describe/explain/evaluate [16:31:25] gromit : {racheal} I can't forecast that [16:31:34] mshaka : if we evalute in bullets [16:31:42] mshaka : i think we can get more marks [16:31:46] gromit : The point is not the bullwt [16:31:46] console125 : {gromit} can we expect the budgeting calcultion in this sitting bc of the syllabus reforms [16:31:50] gromit : bullet [16:32:00] declan1w : remember professional marks [16:32:13] mahesh0012 : that using the practical situations in the questions will it be useful such as the tablet as a threat for the laptops [16:32:17] gromit : It is how much you explain, whether you number points. bullet point them or whatever [16:32:29] racheal : {declan1w} never still understood the use of these marks

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[16:32:44] v123c : {gromit} what is the best way to approach questions and how much should be written for each point you make? [16:32:48] gromit : If its Bullet followed by 2 words, you have to think if that explains [16:33:01] mshaka : okkk [16:33:07] gromit : If its bullet followed by two sentences then that is a good style and would explain [16:33:21] mshaka : u mean explain well with good ponits [16:33:27] mshaka : doesn t matter how [16:33:30] gromit : Full explanation [16:33:34] declan1w : what knowledge should we assume examiner has in answering [16:33:47] gromit : so don't just say: interest rates [16:34:06] gromit : say higher interest rates will make people cut back expenditire and......etc [16:34:48] mahesh0012 : ok thanks [16:34:50] gromit : {mshaka} But it is good to divide you answer up into paragraphs each making a point [16:34:54] console125 : {gromit} can we expect the budgeting calcultion in this sitting bc of the syllabus reforms [16:35:06] mshaka : okkk [16:35:07] gromit : {console125} Not complicated, if at all [16:35:17] gromit : easy [16:36:12] v123c : {gromit} what is the best way to understand all of the models, and how they interrelate? [16:36:25] mahesh0012 : could you tell me what to do if we dont get the answer or our mind work in the exam [16:36:33] racheal : {gromit} please can u help me out in the effects of quality control in business analyses? [16:36:34] console125 : {gromit} Why people fail in the exam..lack of knowledge or they have the required knowledge and they can also partly apply their knowledge (not full).. [16:36:36] mahesh0012 : will writing the questions will gain some marks [16:36:43] mahesh0012 : as in paper f4 [16:36:58] gromit : {racheal} QC is not on slyyabus any more [16:37:13] gromit : {console125} Probably not addressing scenario
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[16:37:16] racheal : ok [16:37:29] gromit : very few marks for describing models. Most for applying models [16:37:47] v123c : {v123c} what is the best way to understand all of the models, and how they interrelate? [16:37:51] gromit : {mahesh0012} Writing the questions? [16:38:08] mahesh0012 : yeah but translating them [16:38:13] mahesh0012 : in our langyuage [16:38:16] mahesh0012 : language [16:38:16] gromit : {v123c} Not sure there is a best way. Perhaps dividen them into sections: [16:38:22] racheal : can one P3 without applyin models/theories to the qxns asked? [16:38:26] gromit : environment = pestel and 5 forces [16:38:36] gromit : internal = M,s BCG etc [16:38:44] gromit : Process change = Balogun etc [16:38:53] v123c : ok [16:39:00] gromit : Probably no more than 12 important models to know [16:39:18] v123c : is it important to apply models to every question? [16:39:44] gromit : {racheal} It's not called 2P3 Common sense". There is an academic body of knowledge which oyu must show awareness of [16:39:45] mahesh0012 : what are the types of benchmarking the last one in the p3 book (kaplan)??? [16:40:00] gromit : {v123c} More impressive if you can [16:40:17] gromit : {mahesh0012} DOn't have that book [16:40:25] declan1w : ok strategic choice suitability, acceptability & feasibility there two others risk & cost/benefit can you explain these last two [16:40:48] gromit : {declan1w} well I think the last 2 are part of acceptability [16:40:52] mahesh0012 : what is generic benchmarking [16:41:02] declan1w : thank you [16:41:11] gromit : Are the shareholders happy with the risk/return and the profit emerging [16:41:25] gromit : {mahesh0012} don't know [16:41:27] mshaka : internal external best comparabililty benchmarking [16:41:32] mshaka : {mahesh0012}
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[16:41:39] console125 : {gromit} how u rate the people who is good in knowledge and have a avg skill in applying the knowledge + avg ability to answer in the domain of the scenrio.....1)easy to pass exam..2) not difficult to pass 3) 50:50 or 4) difficult to get through [16:41:47] mahesh0012 : ok [16:41:56] gromit : I use: interna;l, ecternal, vest of class, other industries [16:42:12] gromit : sorry, typing going haywire [16:42:26] v123c : {gromit} what are the key issues that a project manager must take into account when managing a project? [16:42:30] mahesh0012 : {mshaka} i cant get it??? [16:42:47] gromit : {v123c} risk, scope, quality, time cost [16:42:54] mshaka : gormit gave same types of benchmarking [16:42:57] mshaka : {mahesh0012} [16:43:35] gromit : {console125} try to get application high, I think. That's usually the key to Q1 [16:43:49] leonisbenedictus : how best to link CSF's to KPI's & vice-versa? [16:44:07] mshaka : 1 of the marker suggested to attepmt SECTION B first [16:44:12] mshaka : wt do u say [16:44:14] gromit : CSFs are what you need to be good at. KPI are how you measure them [16:44:36] gromit : {mshaka} ABSOLUTELY NOT I think [16:44:54] gromit : Use your 15 minutes to study the scenario (50% of marks) [16:45:03] gromit : You will need that time to understand it [16:45:08] mshaka : ok [16:45:12] declan1w : mendelows matrix need to give direction, education/ communication, intervention, participation. brief example of each please [16:45:18] v123c : {gromit} and am i correct in saying that scope reduction, compromisation of quality, fast tracking, and obtaining additional resources cause a project to fail? [16:45:19] mahesh0012 : one question on CSF , If in a rehabilitation centre ( drugs) what may be the critical success factors?? [16:45:51] gromit : {declan1w} That's cahnge management, not Stakeholders [16:46:07] declan1w : sorry [16:46:10] gromit : {v123c} Can do - can put some strain on it [16:46:25] v123c : what else causes a project to fail?
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[16:46:27] gromit : Scope reduction is OK if agreed. Some good can still come out of it [16:47:19] gromit : {mahesh0012} Getting people in through the door; gaining trust; making people want to get clean [16:47:35] gromit : {v123c} Mostly scope drift or scope not agreed at start [16:47:54] gromit : {declan1w} diesction = tell them what to do [16:47:57] leonisbenedictus : Planning the question: does writing the ans. plan on the exm paper rather than writing notes on the face of the question paper help the marker? [16:48:12] v123c : thanks [16:48:12] gromit : educatoin = make them realise what they must do [16:48:25] gromit : intervention = stop them doing something [16:48:36] gromit : participation = happer out what they should do [16:48:58] gromit : {leonisbenedictus} Not really. I think those plans are ignored [16:49:06] declan1w : thank you what is happer [16:49:16] gromit : You can start planning with your 15 minutes by writing on Q paper [16:49:47] gromit : happer? [16:50:05] gromit : ah - hammer out what they shold do [16:50:11] gromit : discuss/ debate [16:50:26] declan1w : thats better thank you [16:50:31] declan1w : is there a difference between core & distinctive competences [16:50:36] gromit : :yes: [16:50:44] gromit : {declan1w} Same [16:50:55] declan1w : thanks [16:51:18] althafmra : haloooooooooooooooooooooooooooooooooooo [16:51:26] gromit : hi [16:51:29] declan1w : {althafmra} hiya [16:51:57] aarsh : hey everyone [16:52:00] declan1w : how do we learn to link models [16:52:05] declan1w : {aarsh} hiya [16:52:27] gromit : {declan1w} Read answers - I think it's the only way [16:52:34] v123c : {gromit} can you explain the cultural web please
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[16:52:39] declan1w : thanks [16:52:58] v123c : i know what the components are, but not really sure how to apply the model [16:53:10] dineo1212 : should we restrict ourselves by using only models? [16:53:41] gromit : {v123c} well, these are the things that influence the culture (feel) of the organisation. Eg do you have to call your boss Mr X or is John OK?. Does your boss always tell you what to do ot discuss it with you etc [16:53:51] aarsh : models provide a way to answer question in a effective manner [16:54:02] gromit : Models are there to help [16:54:09] gromit : rather than starting with a blank [16:54:15] gromit : piece of paper, they can help [16:54:25] gromit : you to structure the information and make sense of it [16:54:33] dineo1212 : ok [16:55:10] declan1w : bcg will we be asked to plot from market share etc [16:55:56] gromit : {declan1w} Not plot as on a graph. More subjective/ judgemental [16:56:50] declan1w : ok can you go through harmons matrix [16:57:45] gromit : If something is strategically important [16:57:51] gromit : then do not outsource [16:58:05] gromit : otherwise you tell others your secret of making money [16:58:25] gromit : If the process is stable simple than think about automating [16:58:44] gromit : if it's complex/dynamic then automating is hard, sou outsource [16:58:51] dineo1212 : if required to make an environ analysis,should we use 1 model or should we split the answer into macro-environ,industry,competitors & markets [16:59:14] gromit : {dineo1212} You can use several so long as they are useful [16:59:14] mshaka : deos automation involves computer or manually we can do that [16:59:22] declan1w : {gromit} thank you [16:59:26] gromit : You don't have to plod through all of PESTEL [16:59:41] gromit : if there's nothing on S or T then don't mention them [17:00:01] gromit : {mshaka} Automatin = machine/computer [17:00:11] akhterul : {gromit} what kind of question interms of i t ?
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[17:00:20] akhterul : complex? [17:00:29] gromit : Strategic sue of IT. See SA article [17:00:31] mshaka : it means we can t use this model in manual senarios [17:00:48] gromit : {mshaka} if something is manual it is not automated [17:00:58] gromit : OK all, have to go [17:01:02] mshaka : okkkkkk [17:01:02] dineo1212 : about PESTEL do we get penalised if i state a legal point under political [17:01:03] gromit : nice chatting [17:01:07] dineo1212 : oohh [17:01:09] gromit : talk again soon [17:01:17] gromit : {dineo1212} NO [17:01:18] mshaka : okk [17:01:18] declan1w : ok bye & thank you [17:01:18] akhterul : onno [17:01:24] mshaka : thkz for ur time [17:01:26] dineo1212 : ok,thanx [17:01:26] mshaka : tc [17:01:38] racheal : {gromit} thank you! [17:01:44] akhterul : was the schedule on the homepage? [17:01:46] gromit : pleasure. Bye :) [17:01:56] leonisbenedictus : {gromit} thank you [17:02:16] leonisbenedictus : good evening & happy studying to all

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