[16:58:03] --------------------------Home--------------------------
[16:58:13] --------------------------Paper P3--------------------------
[16:58:59] declan1w: hi everyone
[16:59:23] v123c: {declan1w} hi
[16:59:27] declan1w: i will wipe the screen
[16:59:33] leornado: hi declan 1w
[16:59:57] gromit: Hi all! Time for the P3 tutor chat. Lasts for an hour.
[17:00:08] declan1w: {gromit} hi
[17:00:11] v123c: {gromit} hi
[17:00:13] leornado: hi... Mr gromit
[17:00:18] salu007: Hi Sir
[17:00:27] gromit: Hi
[17:00:32] joalane12: {gromit} hello
[17:00:38] salu007: Should we startt
[17:00:43] komalch: {gromit} hi
[17:00:46] gromit: So, how's P3?
[17:01:03] leornado: seem like alot of new topics..
[17:01:03] salu007: Not sure confused
[17:01:10] declan1w: lacking industry knowledge were can we get it from
[17:01:35] gromit: {declan1w} The scenario shuould be self-contained
[17:01:47] gromit: you don't need specifis industry knowledge
[17:01:54] gromit: specific
[17:02:02] declan1w: {gromit} ok thats good
[17:02:10] salu007: Sir what are non econmic factors in pricing
[17:02:19] lydie1: {gromit} what is your advise on how to apply business capability (core value in a
question
[17:02:30] gromit: {salu007} Look at the other Ps
[17:02:35] lydie1: core competence
[17:02:51] gromit: Product - the brand affects price, for example, and where it's sold and advertised
[17:03:11] 1757163 : Trying to study for P2 aswell - and with them being the day after each other -
what would you recommend concentrating on in the next few days???
[17:03:37] gromit: {1757163 } Look through past papers, I think
[17:03:39] raj86: ive seen that lifecycle costing implications is a favourite for this exam, yet i cannot
find much on this in the open tuition notes.
[17:04:00] gromit: {raj86} I don't know where that idea has come from
[17:04:03] v123c: {gromit} should harmon's process redesign model be used when we are provided
with a an existing process diagram
[17:04:26] utn9: What would be the major areas to concentrate?
[17:04:31] gromit: {v123c} only use it if you are asked about outsourcoing, I think
[17:04:41] rafay_ali: yes, what are the most likely topics
[17:04:47] rafay_ali: i think they are all the news additions
[17:04:49] rafay_ali: for sure?
[17:04:53] v123c: {gromit} doesn't the process matrix deal with outsourcing?
[17:04:59] gromit: {rafay_ali} The tips (guesses) are on the site
[17:05:08] raj86: especially focus on the difference in life cycle costing in manufacturing indusries
compared to software industries. i saw this on a youtube video
[17:05:30] rafay_ali: right
[17:05:31] gromit: {raj86} so what? youtube has lots of videos
[17:05:33] raj86: its the new addition to the syllabus apparently
[17:05:49] raj86: do you know anything about this im clueless on it to be frank
[17:05:52] rafay_ali: iv heard the examiner's interview
[17:06:06] rafay_ali: and i think pricing has been stressed upon
[17:06:07] rafay_ali: alot
[17:06:28] salu007: I think BPP study text covers complrehensively
[17:06:40] gromit: {rafay_ali} Pricing is very likely, but I have no reason to think it will be life-cycle
manufacturing/software
[17:06:56] lwp1990: {gromit} If we are asked to analyse the current position of a company, can we
use the SWOT analysis if we find that we cannot apply the other models?
[17:06:57] bebeli: hi all
[17:07:08] gromit: {lwp1990} SWOT alwyas works
[17:07:11] bebeli: Salu wat topic in bbp covers pricing
[17:07:12] utn9: Will there be any questions regarding to Forecast & Senarios
[17:07:30] rafay_ali: {gromit} so what area of pricing do u think is more likely
[17:07:36] gromit: {utn9} Could be, like in pilot paper, I suppose
[17:07:56] salu007: It is in Emarketing Chapter
[17:07:57] rafay_ali: because even in the "tips" on exam questions, its mentioned that software
industry is likely
[17:08:48] v123c: {gromit} which articles would you recommend reading?
[17:08:54] gromit: If software industry is mentioned once again, I'm leaving this chat room. You are
wasting everyone's time. NO ONE KNOWS WHAT IS IN THE EXAM
[17:09:15] v123c: i've read through the ones on project management, strategic use of IT, and pricing
so far
[17:09:28] komalch: is pilot paper question n Open tuitionn notes for forecasting techniques are
sufficient to prepare this topic?
[17:09:33] gromit: {v123c} only one to go - Strategy and People
[17:09:41] v123c: ok thanks
[17:09:57] gromit: {komalch} I think so. He will go easy with the new stuff at the start, I'm sure
[17:10:34] rafay_ali: {gromit} yess... thats really encouraging.. about the being easy on the first go
[17:10:48] utn9: Lets discuss about the topics that can be examined.
[17:10:49] komalch: {gromit} ok
[17:10:54] rafay_ali: {gromit} do u think change management has the same importance it once did
[17:10:57] v123c: {gromit} i haven't covered forecasting techniques
[17:10:58] gromit: Make sure you can do simple marginal costing stuff, like restricted resources,
closure decisions
[17:11:00] v123c: what are they?
[17:11:02] utn9: I mean the answering technique
[17:11:03] lwp1990: {gromit} In exponential smoothing, are we predicting the sales unit or the 8
part centred moving average?
[17:11:22] gromit: {rafay_ali} I think it will remain important because firms so often mess it up
[17:11:25] aarsh: can anyone explain types of change????
[17:11:38] leornado: (gromit) Based on the last few past year question, do you think the examiner is
testing more on application of theory or just want us to memorise the detailed theory and write in
answer will do..
[17:11:59] gromit: {leornado} V hasrd to read that colour
[17:12:05] gromit: hard
[17:12:32] gromit: The paper has always been applying theories much more than explaining them
[17:12:48] rafay_ali: {gromit} if i m not wrong there are about 6 topics that have been changed
[17:13:14] salu007: Sir wht if we face a situation where NPV and IRR of aproject are same
[17:13:23] gromit: {lwp1990} you are trying to make a prediction of future amounts
[17:13:36] gromit: {salu007} ?
[17:14:17] rafay_ali: {gromit} after reading the exam technique articles, i presume its better to write
a heading a put 1 or 2 points under it, paragraphs are not recommended?
[17:14:35] chooikitwang: hi
[17:14:36] leornado: I DON'T KNOW HOW TO CHANGE THE COLOUR.
[17:14:44] chooikitwang: sorry who is the tutor?
[17:14:48] rafay_ali: {leornado} and ur appearing for the p3 paper??
[17:14:53] gromit: {rafay_ali} Usually paragraphs are what is needed if you are asked to explain or
discuss
[17:15:03] Jings: if i forget the theory, but i still know the logical and apply it, i will gain marks ?
[17:15:08] lwp1990: {gromit} I'm sorry, may i know what future amounts are we refering to?
[17:15:11] salu007: Any tips on Cultural Web There was a question In Dec or Jun 08 i find it very
difficult
[17:15:16] gromit: {leornado} go to 'TV' at bottom of screen, next to clookc and click
[17:16:07] rafay_ali: {gromit} but even in the pilot paper more importance seems to be given to
headings and then really short paragraphs
[17:16:34] gromit: {lwp1990} sales units
[17:16:46] declan1w: {chooikitwang} gromit
[17:16:47] keffyk: please can someone give me an example of software industry from the past
exam questions..
[17:16:50] rafay_ali: from what iv seen , examiners wish we would make life easier for them and
that would come from writing in separate lines for each mark/or point?
[17:16:57] rafay_ali: {keffyk} nice color choice buddy
[17:17:04] akhterul: {gromit} case studies . how to manage time?
[17:17:07] lwp1990: {gromit} Ok, I got it. Thank you.
[17:17:24] addana: i think that much emphasis needs to be place on the marks allocated to each
part of the question.......that will help gage as to how much u shld write
[17:17:44] chooikitwang: {declan1w} thanks.
[17:17:52] gromit: {akhterul} Use you 15 minutes reading time to thoroughly study it. There's lots of
data to assimilate
[17:17:56] aarsh: {gromit} in MANDLOW matrix whats the importance of a dog for a business
portfolio?
[17:18:08] gromit: You can also be doing some calcs and writing results on the Q paper.
[17:18:16] komalch: {aarsh} its not in mendelows
[17:18:24] rafay_ali: {gromit} is the 6i software approach still popular??
[17:18:26] komalch: {aarsh} its a bcg matrix
[17:18:31] aarsh: oh
[17:18:46] gromit: Then allocate your time strictly to make sure each bit of each questoin is
attempted
[17:18:50] aarsh: bcg sory
[17:18:58] akhterul: nd chosing the 2 frm 3 q? can we waste time there?
[17:18:59] gromit: {rafay_ali} Very good for e-marketing
[17:19:26] gromit: {akhterul} Look at the requirements first as they alert you to the subject area
[17:19:30] rafay_ali: {gromit} whats with the CHANGE KLIEDOSCOPE
[17:19:36] rafay_ali: or however thats spelled
[17:19:41] leornado: IS THAT THE E-MARKETING CONCEPT IS SAME AS MARKETING CONCEPT?
[17:19:42] aarsh: {gromit} in BCG matrix whats the importance of a dog for a business portfolio?
[17:19:49] akhterul: do we need to cal irr ?
[17:20:05] rafay_ali: is it important to cover/
[17:20:09] gromit: Context = variables of change eg fast/slow, one dept/many, people
willing/resisting etc
[17:20:29] komalch: {rafay_ali} balogun and hope hailey (kaleidoscope)
[17:20:32] gromit: then the choices are how you respond to those variables eg
autocratic/participative
[17:20:39] chooikitwang: {gromit} How do we relate Mcdonal & Evan 6is to Chaffey 6Cs?
[17:20:48] gromit: {aarsh} Divest/shoot
[17:20:58] gromit: {chooikitwang} No idea
[17:21:17] aarsh: WHAT ABOUT HOLDING OF DOG?
[17:21:24] v123c: {chooikitwang} i think i saw that in an article
[17:21:26] rafay_ali: {gromit} is the the PORTFOLIO part still important, having been examined last
time..
[17:21:47] keffyk: 6'C is ebusiness
[17:21:50] gromit: {aarsh} You could, but reckined to be a distraction
[17:21:55] akhterul: {rafay_ali} or for acca there is no last time
[17:22:04] bebeli: {gromit} can 5forces be used along side industry life cycle?
[17:22:10] keffyk: 6'i is emarketing
[17:22:21] aarsh: {gromit} DOG MAY ACT AS A SUPPORT FOR PORTFOLIO
[17:22:29] gromit: {bebeli} Does not seem a natural fit
[17:23:03] gromit: {aarsh} can you give an example?
[17:23:08] akhterul: sir to anallyse strategy should we use two models with evaluation to rap up for
20 marks?
[17:23:22] usmanshafi: how much important number in question 1
[17:23:26] chooikitwang: {v123c} yea i think need to link both of the 6i and 6c to Customer
Relationship Management
[17:23:30] aarsh: MY COLLOEGE IS LOSS MAKING FOR YEARS
[17:23:42] aarsh: BUT ITS OWNER HOLDING IT
[17:23:45] gromit: {akhterul} if he says 'using a model or models of your choice' try to use more than
one. 2 probably about right
[17:23:56] aarsh: FOR ITS CORE BUSINESS
[17:24:33] akhterul: so if asked using a model -then only one? model or models r intentional then?
[17:24:46] akhterul: use of word
[17:24:50] gromit: {akhterul} yes wording is intentional
[17:25:08] aarsh: {gromit} MY COLLOEGE IS LOSS MAKING FOR YEARS ...BUT ITS OWNER HOLDING
IT....FOR ITS CORE BUSINESS...Consultation business
[17:25:46] gromit: {aarsh} I don't fully understand why someone is holding onto a loss-making
business for years
[17:25:51] akhterul: if there is a lot of financial data . is it important to calculate critical points or
even easy but valid points will count the same marks?
[17:26:01] leornado: SORRY, I CAN FIND THE "TV" BUT WHAT TO DO NEXT?
[17:26:11] declan1w: {leornado} to the right of you tube left click and chose
[17:26:21] gromit: {akhterul} The financial data is very important. It usually holds gold for you
[17:26:47] aarsh: {gromit} well it makes sense because college is increasing the number of client for
consultancy services
[17:26:50] raj86: what does it mean by conceptual stage of project management? is that the start,
ie. initially screening
[17:27:09] rafay_ali: {gromit} is the assumption that one RELATED point (general point/ not a
specific model) would still get u a mark as long as it applies?
[17:27:28] gromit: so how does the college relate to the consultancy - do people pass through the
college then they come back for consultancy?
[17:27:36] leornado: Thanks declan1w
[17:27:50] aarsh: {gromit} no during their stay
[17:27:59] gromit: {rafay_ali} A well made point should always get a mark
[17:28:19] rafay_ali: new area of benefits management are NOT the same as reward mngment?
[17:28:34] akhterul: {aarsh} can u pls remind models which should not be used in a same case . ?
[17:28:35] aarsh: {rafay_ali} looks same
[17:28:43] leornado: how to apply the project management concept?
[17:28:44] gromit: {rafay_ali} rewards management = pay/bonuses. Now not there ay more
[17:29:08] aarsh: {akhterul} ????????
[17:29:10] rafay_ali: {leornado} congrats
[17:29:15] leornado: Do i need to memorize all the step in project getaway?
[17:30:26] akhterul: {gromit} can u pls remind models which conflict so should not be used in a
same case
[17:30:39] gromit: {raj86} Not sure what the conceptual stage is. The problem with PM is that there
are many models, often commercial. I would just choose a nice simple set of stages
[17:30:56] rafay_ali: {gromit} CMMI ? is it still examinable?
[17:31:10] aarsh: {gromit} got my point??????
[17:31:16] v123c: {gromit} if a question on the value chain comes up, is it important to talk about
the secondary activities as well as the primary ones?
[17:31:20] gromit: definition, design, etc
[17:31:39] gromit: {aarsh} No idea. No further discussioni on this
[17:31:48] aarsh: ohh
[17:31:48] lydie1: {gromit} what is the difference between business case and project objectives?
[17:32:02] gromit: {v123c} If it just says value chain then every activity would need to be talked
about
[17:32:10] v123c: ok
[17:32:20] gromit: usually he just asks for primary or support as too mnay to discuss otherwise
[17:32:20] joalane12: {gromit} if asked to list primary activities should we have to draw value chain
model?
[17:32:25] rafay_ali: CMMI ? is it still examinable?
[17:32:31] gromit: {rafay_ali} NO
[17:32:37] aarsh: {gromit} you are a real tutor???????
[17:32:43] akhterul: {gromit} if i could not recognise any stage of value chain should i guess ?
[17:33:00] gromit: {lydie1} A business case is primarily an economic justification
[17:33:24] raj86: thanks gromit so if you just learn a simple set of stages, ie. initial screening, design,
plan and risk in project management, it would be the same as the gateways
[17:33:29] gromit: project objectives are what the project should achieve - those need to be
measured financially for the business case if possible
[17:33:37] rafay_ali: {gromit} u are such a nice guy :D
[17:34:02] akhterul: is it possible that a stage is not present in a company?
[17:34:03] leornado: Is that REVIEW is most important in PM?
[17:34:08] gromit: {aarsh} I'm a real tutor and you are a real prat
[17:34:10] lydie1: thnks
[17:34:18] v123c: {gromit} for a project, should business drivers be related back to the mission of
the organisation?
[17:34:42] gromit: {v123c} Yes, because that's what the prganisation is for
[17:34:55] v123c: and the project drivers?
[17:34:55] akhterul: {gromit} is it possible that a stage of value chain is not present in a com?
[17:35:33] gromit: {akhterul} It might be. For example, a service company won't have significant
inbound logistics
[17:35:44] akhterul: then what should we write there?
[17:35:53] lwp1990: {gromit} Can we always use Mendelow's matrix for any stakeholder expectation
question?
[17:35:55] gromit: {v123c} Yes the drivers are why we need the project
[17:36:14] gromit: {akhterul} Not-applicable!
[17:36:32] akhterul: the service com may train employees so is it not inbound ?
[17:36:37] gromit: {lwp1990} It's the only model for stakeholders so is nearly always sueful
[17:37:06] gromit: {akhterul} Human resources management probably
[17:37:18] akhterul: K
[17:37:39] lwp1990: Ok.
[17:38:26] akhterul: {gromit} IS THERE ANY MODELS WHICH COMFLICT ? SO NOT TO USE IN
TOGETHER FOR STRATEGIC ANALLYSIS?
[17:38:39] akhterul: CONFLICT
[17:38:43] leornado: Do you think balance scorecard and Mckancy 7S still a main topic in current
examiner exam?
[17:39:10] rafay_ali: {gromit} i would like to know about the balance scorecard too
[17:39:13] raj86: Gromit, project stages are the same as the gateways arent they - just same kind of
info. i find learning the gateways harder
[17:39:14] gromit: I don't think any conflict head-to-head, though they can give different views of
the data. So, I don't think there are any you can't use together
[17:39:31] akhterul: K
[17:40:02] gromit: {gromit} Gateways is another description of the stages of a project. BUT, it is new
and exmainer seems keen on the idea of gateway reviews
[17:40:03] akhterul: WHY IS 7s ? wht is its use?
[17:40:18] gromit: ie do not proceed until you are happy with what's been done already
[17:41:23] akhterul: {gromit} why is 7s used?
[17:41:35] gromit: {leornado} neither 7Ss nor blanaced scorecard are specifically mentioned in the
syllabus so can't be specifically asked
[17:41:54] gromit: However, critical success factors are in syllabus and these models can help there
[17:42:06] leornado: ok. thanks.
[17:42:09] rafay_ali: {gromit} so correct me if I m wrong (this may sound really basic but..).. the
topics for stragetic analysis (PESTEL, PORTER) are defintitely different than strategic positioning?
[17:42:42] salu007: Do we have a model for CSFs
[17:42:42] rafay_ali: {gromit} hence what would be the models for strat positioning? BCG ?
[17:43:26] gromit: {rafay_ali} Yes - PESTEL and 5 forces etc analyse your position. Stratgegic
positioning/choice is choosing which strategy to follow
[17:43:28] akhterul: ansoffs matrix
[17:43:46] gromit: {akhterul} yes; generic strategies. Strategic clock
[17:43:54] leornado: CSF is closely related to competency, right?
[17:44:00] gromit: yes
[17:44:47] rafay_ali: {gromit} strategic clock is a pain for me..do u know if it is specifically
examinable?
[17:45:33] gromit: {rafay_ali} yes - B 2(a) in study guide
[17:45:34] leornado: what is the difference between licensing and franchising?
[17:46:01] rafay_ali: {gromit} guess ill have to leave it as a choice then :(
[17:46:09] gromit: {leornado} they are similar, but franchising is more hands-on. More involvement
[17:46:22] bebeli: {gromit} models for strategic position and strategic choice the same?
[17:46:44] akhterul: involement of monintoring right ?
[17:46:53] gromit: {akhterul} and rules etc
[17:46:55] rafay_ali: {bebeli} good quest
[17:47:13] v123c: {gromit} are not for profit organisations likely to be tested?
[17:47:27] akhterul: no
[17:47:33] rafay_ali: {gromit} plz elaborate about strat choice
[17:47:42] rafay_ali: {akhterul} to NPO??
[17:47:44] gromit: {rafay_ali} First you assess your position
[17:48:18] gromit: then you decide what strategy will yield sustainable competitive advantage
[17:48:35] gromit: then you make you choice based on feasibility, acceptability and suitability
[17:49:03] akhterul: prior to that should we first determince which choice are available nd practical?
[17:49:07] v123c: {gromit} instead of using SAF, can you just state the advantages and
disadvantages of the strategy?
[17:49:46] rafay_ali: {gromit} right.. and for the strategy as a choice we have models? or just plain
analysis as could be given in the scenario
[17:49:49] gromit: {v123c} You could, but examiner likes to see structure based on academic stuff.
That's always a bit better than 'common sense'
[17:49:56] rafay_ali: {v123c} whats SAF sorry i get caught up
[17:50:11] sqgilani: {rafay_ali} SFA
[17:50:16] gromit: {rafay_ali} To assess position: pestel 5 forces, SWOT etc
[17:50:30] sqgilani: suitable feasable acceptable
[17:50:31] mahadi: hi
[17:50:37] gromit: You choice if focus/differentiation/cost leader
[17:50:37] bebeli: {rafay_ali} suitability acceptability and feasibility
[17:50:42] rafay_ali: {sqgilani} thank god i knew this was probably a mistyp
[17:50:50] rafay_ali: {bebeli} ok never mind thanks
[17:50:59] lydie1: {gromit} when deciding what strategy will yield competitive advantage, do we
considere our core competence, or it should be looked at at ASF?
[17:51:25] gromit: Core competence would imply suitability and feasibility
[17:51:50] gromit: If you had no core competences in something then stay away form it!
[17:52:27] akhterul: {gromit} like balance scorecard is there any other topic not specifically inthe
syllubus but we have in the OT slides?
[17:53:47] leornado: (gromit & mikelittle) What is your advise to us since the exam is around the
corner?
[17:53:50] bebeli: Strategic analysis same as strategic position?
[17:54:04] gromit: We don't put stuff in that is not useful. If you didn't have blanaced scorecard, you
might be hard pushed to answer a question like "Wow should an organisation develop critical
success factors!
[17:54:56] keffyk: {leornado} good question
[17:55:06] akhterul: yes sir
[17:55:16] akhterul: tanx
[17:55:29] gromit: {akhterul} No probs
[17:56:18] akhterul: his is our last sitting right?
[17:56:25] akhterul: this
[17:56:32] gromit: {akhterul} I think so
[17:57:00] v123c: {gromit} how do we ensure that we get maximum presentation marks?
[17:57:05] gromit: How much do you intend to write for 20 marks?
[17:57:22] raj86: i really hope computational stuff like drawing up a cash budget doesnt come up
[17:57:36] oyun: whose last sitting?
[17:57:40] akhterul: TO THE POINT MAY BE 4 PAGES
[17:57:52] gromit: {v123c} Use paragraphs and professional language. Set out as
report/letter/memo or what ever is required
[17:58:09] v123c: use of subheadings?
[17:58:16] gromit: {akhterul} That would be good-going
[17:58:19] akhterul: SO NO & SIGN RIGHT?
[17:58:25] gromit: {v123c} sure
[17:58:39] gromit: {akhterul} yes
[17:59:06] akhterul: neat nd clean bear any proff mark?
[17:59:20] rafay_ali: so language is imp for p3
[17:59:31] rafay_ali: i mean it has to be of that level, cant be simple?
[17:59:40] gromit: {rafay_ali} Yes, professional language
[17:59:50] v123c: {gromit} no bullet points allowed right?
[17:59:54] rafay_ali: the SA article is based on that rite?
[17:59:56] gromit: as though writing to a client
[18:00:22] gromit: OK. Have to go. Nice chatting. Best wishes to you all for success
[18:00:31] smilyhong: does it lead to loss of mark if the name of theory is falsely spelled?
[18:00:34] raj86: thanks gromit
[18:00:38] gromit: {smilyhong} no
[18:00:39] leornado: thanks. Mr gromit
[18:00:43] declan1w: {gromit} thanks for help
[18:00:46] smilyhong: thanks
[18:00:51] Jings: {gromit} Thanks
[18:00:58] v123c: {gromit} thanks
[18:00:58] paosei: thanks
[18:00:59] gromit: :)
[18:00:59] oyun: thanks
[18:01:01] akhterul: last q . no bullet points? a per son just asked?
[18:01:01] bebeli: {gromit} thanks
[18:01:02] rafay_ali: {gromit} thanks
[18:01:13] rafay_ali: hope not to ask u anything about p3 again :D