CHAT SESSION WITH ACCA P3 TUTOR

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                  CHAT SESSION WITH ACCA P3 TUTOR
[17:13:06] babar2012 : {ACCA Tutor} should we do Sec-b first or always start off with Sec-A

[17:13:28] ACCA Tutor : {babar2012} Section A, I think

[17:13:32] ACCA Tutor : big scenario

[17:13:42] ACCA Tutor : use your reading time to get to know that

[17:14:01] babar2012 : 15min reading should only be spent on Sec-A then or ..

[17:14:03] tom.mcdonald217 : {babar2012} there is so much info in scenario 15 mins reading time needs to be
devoted to this

[17:14:28] babar2012 : {tom.mcdonald217} agreed

[17:14:52] ACCA Tutor : any specific technical questions?

[17:16:02] babar2012 : see you on monday ACCA Tutor

[17:17:28] tom.mcdonald217 : {ACCA Tutor} Knwledge of BCG sufficient or do we need to know other related
models

[17:17:33] ACCA Tutor : on the front page, I think

[17:18:06] babar2012 : for analyse the market which model is best

[17:18:34] babar2012 : if you have a choice for a 10 or 15 marks q's

[17:19:04] tom.mcdonald217 : {ACCA Tutor} you promised to give us your exam tips - have I missed them?

[17:19:08] ACCA Tutor : {tom.mcdonald217} I don't think you need to know the policy matrixGE model

[17:19:23] ACCA Tutor : They will be posted middle of week

[17:19:37] ACCA Tutor : {babar2012} Not sure what you mean

[17:20:06] tom.mcdonald217 : {ACCA Tutor} middle of week after exam??? :)

[17:20:42] ACCA Tutor : Yes - tips will be spot on

[17:20:51] babar2012 : {ACCA Tutor} no worries

[17:21:26] tom.mcdonald217 : Back to my earlier point, wife has just pointed out we need to be thinking about
Christmas presents...

[17:21:52] ACCA Tutor : {tom.mcdonald217} I go for cheap but impressive

[17:22:14] tom.mcdonald217 : How have I stayed married for so long???

[17:25:55] ACCA Tutor : Have they a good reputation?

[17:28:26] tom.mcdonald217 : {ACCA Tutor} you mentioned Project Management as a focal area the other night -
any particular aspect, or should we know it inside out?

[17:28:43] babar2012 : {ACCA Tutor} a colleague on OP mentioned EW to me & i found them very helpful

[17:28:47] ACCA Tutor : It's hard to split it, I think

[17:29:10] ACCA Tutor : I would concentrate on Project initiation documents eg to reduce




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[17:29:17] babar2012 : {ACCA Tutor} they're very detailed but good ...

[17:29:18] ACCA Tutor : the probability of project drift

[17:29:47] ACCA Tutor : {babar2012} I'm sure they are, but not as commonly mentioned as BPP or Kaplan

[17:30:37] ACCA Tutor : Perahps also look at how projects can go wrong

[17:30:40] babar2012 : {ACCA Tutor} i dont know about that...i found it few days ago n saw some very important
points which i never thought about...!

[17:31:07] ACCA Tutor : {babar2012} Good - thinking is important! ;)

[17:31:37] tom.mcdonald217 : I never thought of that!

[17:32:04] ACCA Tutor : There's no answer to that

[17:33:01] babar2012 : {aurianne04} they have a website " emilewoolf" just google it

[17:35:35] babar2012 : EW is very detailed but one can really see the full implication of P3...

[17:36:22] ACCA Tutor : {babar2012} Remember, it's how you apply theories, in general

[17:36:35] ACCA Tutor : not regurgitation of them

[17:36:46] babar2012 : {ACCA Tutor} sure ... thay really show this "application "

[17:36:59] ACCA Tutor : that's the right approach then

[17:38:36] ACCA Tutor : Are you readind Student Accountant articles?

[17:38:57] tom.mcdonald217 : Always read these before exams

[17:39:06] ACCA Tutor : Good

[17:39:28] babar2012 : i need to catch up with articles ...

[17:39:50] ACCA Tutor : I think you should look at the one on takeovers and mergers

[17:39:57] ACCA Tutor : in particular

[17:40:08] babar2012 : sure. is it recent one ACCA Tutor

[17:40:14] tom.mcdonald217 : {aurianne04} ACCA Tutor is still waiting for people to submit Dec 07 exams for
marking

[17:40:20] ACCA Tutor : This year

[17:40:26] ACCA Tutor : about July?

[17:40:33] babar2012 : {ACCA Tutor} ok cool

[17:41:05] ACCA Tutor : Not much ever been asked on that

[17:41:14] aurianne04 : Tom: taking, will Endeavour to do it this week

[17:41:19] babar2012 : which quality model is important for dec-10 sitting; six sigma or TQM

[17:41:32] ACCA Tutor : I think six sigma

[17:41:44] ACCA Tutor : DMAIC

[17:42:04] babar2012 : how can we apply DMAIC to "Open Tuition"



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[17:42:29] babar2012 : arguably

[17:42:37] babar2012 : its debatable

[17:42:50] tom.mcdonald217 : DEFINE

[17:43:50] ACCA Tutor : {tom.mcdonald217} as a sort of pension?

[17:44:21] ACCA Tutor : {babar2012} seriously though

[17:44:30] babar2012 : sorry ACCA Tutor; i just wanted to apply DMAIC to OT for a discussion; We're not
challenging OT - offcourse its a great resource for studying :)

[17:44:41] tom.mcdonald217 : {ACCA Tutor} my pension will need a top up!

[17:44:55] ACCA Tutor : Define the problem/what quality means Measure what would grade quality. Analyse the
reasons for non-achievement

[17:45:32] ACCA Tutor : Improve - try things out

[17:45:39] ACCA Tutor : Control the whole process

[17:45:59] tom.mcdonald217 : trial and error - repetition

[17:46:07] ACCA Tutor : the DMAI bits are a cycle

[17:46:26] ACCA Tutor : Trial and error is a bit rando, perhaps

[17:46:32] tom.mcdonald217 : ... and my wife is in control

[17:46:38] ACCA Tutor : I talk about crawling towards improvement

[17:46:50] ACCA Tutor : there is rarely a moment of enlightenment

[17:47:09] babar2012 : @ ACCA TUTOR: what about Six-Sigma itself; how can we critisice it & on what grounds ?

[17:47:31] tom.mcdonald217 : very time consuming, costly

[17:47:39] ACCA Tutor : I think it's beyond criticism: it provides a methodology for improvement

[17:47:49] babar2012 : {ACCA Tutor} i disagree

[17:48:01] ACCA Tutor : {babar2012} why?

[17:48:21] ACCA Tutor : You can't improve quality

[17:48:31] ACCA Tutor : unless you know what quality means

[17:48:31] babar2012 : coz i saw a question on Six Sigma criticism ..I’ll post it on OT later one :)

[17:48:43] ACCA Tutor : {babar2012} ok

[17:48:47] ACCA Tutor : please do

[17:49:06] ACCA Tutor : The only criticism I ever have is the name

[17:49:22] ACCA Tutor : ie that < 1error in 3.4 million

[17:49:25] ACCA Tutor : is absolute

[17:49:30] ACCA Tutor : it's not

[17:49:42] tom.mcdonald217 : Kaplan book lists a number of criticisms of 6 Sigma



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[17:50:17] ACCA Tutor : well, if you want to improve quality there is investment

[17:50:17] tom.mcdonald217 : focus on current processes and reliance on data - too rigig, limits innovation

[17:50:25] tom.mcdonald217 : rigid

[17:50:37] ACCA Tutor : I think that might be a criticism

[17:50:47] ACCA Tutor : of the way it's carried out, not the concept

[17:51:13] tom.mcdonald217 : based on models that are simplifications of real life - judgment needs to be used in
applying models in context of objectives

[17:51:23] ACCA Tutor : it shouldn't rule out business process reengineering, for example

[17:51:28] tom.mcdonald217 : time consuming/expensive

[17:51:50] ACCA Tutor : {tom.mcdonald217} but you could say 'no pain, no gain'

[17:51:58] babar2012 : may be Six-Sigma is only good for large / multinational org's & not for small comp.

[17:52:02] ACCA Tutor : that's why define is the first step

[17:52:02] tom.mcdonald217 : organization’s culture must be supportive of a scientific process

[17:52:32] tom.mcdonald217 : Data driven process can become over-bureaucratic

[17:52:34] ACCA Tutor : {tom.mcdonald217} not a criticism of sic sigma, a criticism of the organisation perhaps

[17:53:08] ACCA Tutor : again, if you don't use data you are using the pattern of tea leaves on the bottom of your
cup

[17:53:38] tom.mcdonald217 : we should be able to argue for and against

[17:54:08] ACCA Tutor : Sure, but I think the arguements against are criticisms of the organisatoin not the
methodology

[17:54:36] ACCA Tutor : I don't thinm you can argue about the steps of DMAIC - impeccable logic, surely

[17:54:39] tom.mcdonald217 : horses for courses must surely come into consideration

[17:55:06] ACCA Tutor : {tom.mcdonald217} well if you have a rubbish company, I agree six sigma could be
challenging

[17:55:08] tom.mcdonald217 : TQM will be more suitable for some businesses than 6 Sigma

[17:55:11] babar2012 : what about PESTLE ; can we criticize it

[17:55:33] ACCA Tutor : {babar2012} You won't be asked to do that

[17:55:39] ACCA Tutor : It's just a list

[17:57:59] tom.mcdonald217 : {ACCA Tutor} when will we have the pleasure of your company again?

[17:58:51] ACCA Tutor : Just a moment looking it up

[17:59:21] ACCA Tutor : 25 November 5pm UK time, then another in Dec….. Are we all done?

[18:00:08] tom.mcdonald217 : ok, and you'll post tips on P3 in the meantime

[18:00:23] ACCA Tutor : Sure, probably Wednesday Enjoy the rest of the weekend! bye all




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