[13:01:30] --------------------------Paper P3-------------------------[13:02:06] gaurimaini2191: TQM??
[13:02:12] gromit: The tips are on teh P3 section of the site: project management, strategic use of IT,
structure and culture, ethics as wella s the usual ana;ysis in Q1
[13:02:33] gaurimaini2191: what abt quality????
[13:02:41] gromit: {gaurimaini2191} I don't think so. There was a bit on quality last time and it's going
from the syllabus
[13:02:50] gromit: if anything, 6sigma
[13:02:59] gaurimaini2191: uh huh...
[13:03:01] gaurimaini2191: ok
[13:03:12] leo2010: how do you guess what comes up?
[13:03:24] faraaz: how about strategic change
[13:03:28] leo2010: have your guesses been correct in the past?
[13:03:30] gromit: Anyone can do it - look at past papers, see what's overdue etc
[13:03:49] gromit: only intelligent (?) guesses
[13:03:55] leo2010: yes true
[13:04:14] gaurimaini2191: the examiner normally doesnt repeat things two semesters in a row???
[13:04:17] leo2010: ethics in what context?
[13:04:22] gromit: {faraaz} Perhaps, but I think in the context of culture
[13:04:49] gromit: {gaurimaini2191} He repeats the big things - like SWOT
[13:04:59] faraaz: cultural web?
[13:05:14] gromit: {leo2010} Ethics in the context of strategic decisions
[13:05:31] gromit: {faraaz} yes
[13:05:42] gaurimaini2191: {gromit} ohhk...what abt strategic Change for dec 2010?
[13:06:20] gromit: {gaurimaini2191} What do you mean - how to push that through?
[13:06:48] gaurimaini2191: Business change process...
[13:07:09] gromit: automation, rationalisation BPR?
[13:07:27] gromit: or overcoming resistance to change?
[13:07:36] gromit: like Balogun and Hope Hailey?
[13:07:48] gaurimaini2191: the latter..yes~
[13:08:26] gromit: It's always worht knowing how to try to implement change - can be a separate
section of a question
[13:08:41] gaurimaini2191: oh alright~
[13:08:47] gromit: We give tips, but that never means ignore stuff
[13:08:56] linda4: {gromit} when you say Strategic use of IT as one of the hints...are you talking about
areas like E-business and IT with Porter's 5 Forces
[13:08:57] gaurimaini2191: yes of course...
[13:09:00] gaurimaini2191: thank you
[13:09:15] gromit: {linda4} Yes - look at reent article in SA
[13:09:22] linda4: okay will do
[13:09:26] linda4: thanks
[13:09:29] gromit: 5 forces and avlue chain and generic strategies
[13:09:35] gromit: vvalue
[13:09:38] gromit: value!
[13:09:47] linda4: ok
[13:10:02] dimex: anything from pple mgt?
[13:10:33] gromit: {dimex} perhaps to do with company structure, but not reward stuff I don't think
[13:10:51] gromit: eg matrix structures
[13:11:45] gromit: quiet, isn't it?
[13:12:10] gromit: :d
[13:12:11] linda4: Knoweldge management....how can we use it in a question
[13:12:21] leo2010: what about software evaluation
[13:12:44] gromit: {linda4} KM - can be part of the strategic use and importance of IT
[13:12:54] gromit: More and more businesses are service based
[13:13:02] gromit: so less knowledge is explicit
[13:13:06] gromit: more is tacit
[13:13:15] linda4: okay
[13:13:23] gromit: Greater challenges in uncovering and sharing valuable knowledge
[13:13:39] gromit: {leo2010} Don't think that's likely
[13:13:46] aleeza: do we need to learn the models and explain them b4 applying the scenario
[13:13:55] linda4: {gromit} I saw this is an approach used by Microsoft
[13:14:15] gromit: NO NO NO. Don't explain models unless specifically asked to. You have to apply them
[13:14:27] gromit: in scenarios. Don 't rely on common sense - they expect
[13:14:32] gromit: you to apply models
[13:14:55] gromit: {linda4} Could you elaborate?
[13:15:37] aleeza: ok
[13:15:43] linda4: I was talking about with knowledge management
[13:16:15] gromit: yes - Microsoft will work hard at that I think because it's a knowledge-based business
[13:16:25] Jings: do i need to stated out what model i'm using? or in some case can i just use the model
theory apply into answer, but dint shows the model title?
[13:16:30] linda4: "Knowledge management is a fancy term for a simple idea. You're managing data,
documents, and people efforts ....Bill Gates
[13:16:31] leo2010: project management is a one of the examiners favourite topics?
[13:16:31] gromit: doesn't want to lose knowledge when people leave
[13:16:44] linda4: ok
[13:17:22] leo2010: there was a question in Dec 09
[13:17:25] gromit: managing data, documents: those are easy - written down and searchable; people
efforts - how does one capture those. What makes
[13:17:38] gromit: one retaurant good and another bad - I mean atmosphere
[13:17:42] gromit: not food quality
[13:18:11] gromit: {leo2010} He's v keen on this and it is being increased from June
[13:18:48] gromit: Most strategies fail because the many projects
[13:18:56] gromit: making them up are badly run
[13:19:19] gromit: strategy is the complete picture; project are like pieces of the jig saw
[13:19:50] leo2010: thank you
[13:19:57] gromit: no probs
[13:20:10] gaurimaini2191: {gromit} i read sumwhr that the focus in project mgt this time would be
proj initiation..is that true?
[13:20:20] leo2010: which questons do we practice on project managemen?
[13:20:38] gromit: I dopn't know if that's true but that's what I've gone for
[13:20:50] gaurimaini2191: hmm...
[13:21:20] gromit: {leo2010} I haven't got the exams to hand - look at any relevant ones there and any
in your learning material
[13:21:28] gromit: {gaurimaini2191} hmm???
[13:21:40] gaurimaini2191: thank you
[13:21:48] gromit: {gaurimaini2191} ok
[13:22:21] gromit: I think Asgridge Portfolio Display is likely too
[13:22:30] leo2010: q2 dec 07 included project initiation dcument
[13:23:06] gromit: {leo2010} A very important document: who, why, what, when, how, how much...
[13:23:50] leo2010: there is a good article written on project manah
[13:23:51] linda4: okay with Who? being...the role and responsibilities
[13:23:55] leo2010: management
[13:24:06] gromit: {leo2010} about a year ago
[13:24:09] gaurimaini2191: {leo2010} which one?
[13:24:10] gromit: {linda4} Yes
[13:24:27] gromit: Why = the business case
[13:24:37] gromit: what = scope
[13:24:46] gromit: when = deadline
[13:24:59] gromit: how - internal or sub-contractors
[13:25:11] gromit: how-much = £/$
[13:25:19] leo2010: (Gaurimaniani)check acca articles on BA (sometime in 09)
[13:25:40] gaurimaini2191: {leo2010} ok thanks!
[13:25:57] aleeza: why do we use the cmmi or v model
[13:26:01] linda4: {gromit} I'm writing this down your method is easier to understand
[13:26:38] gaurimaini2191: {gromit} is the fishbone analysis imp???
[13:26:52] gromit: {aleeza} CMMI came up last time; quality is going so it won't appear this time. I don't
think V model will either - very technical and it appeared once already
[13:27:08] aleeza: ok thanks
[13:27:13] leo2010: can you very briefly go through Asgride Porfolio?
[13:27:29] gromit: {gaurimaini2191} Quality model? No
[13:27:33] gromit: {leo2010} OK
[13:28:02] gromit: It is to do with a holding company 'parenting' a subsidiary
[13:28:12] gromit: You can help a child if:
[13:28:19] gromit: The child needs help
[13:28:27] gromit: You have the skills to provide that
[13:28:35] gromit: so, I can help my child to read
[13:28:50] gromit: but I can't help him play the piano :(
[13:28:56] gromit: Same with companies
[13:29:03] gromit: If the subsid needs help
[13:29:16] gromit: that the holding co can provide then there is every chance
[13:29:20] gromit: of gains.
[13:29:39] gromit: If the subsidiary is already 'perfect', no help is needed and no gains possible
[13:29:55] gromit: If the subsid is in a business the parent knows nothing about
[13:30:00] gromit: the parent can't help
[13:30:07] gromit: or worse will do damage
[13:30:28] gromit: All that is presented in a Matrix in the Ashridhe portfolio display
[13:31:15] faraaz: {gromit} is it likely to come?
[13:31:40] gromit: I think so - in study guide and not asked about. See recent article in S on takeovers
[13:31:47] gromit: SA
[13:32:08] linda4: so if u don't have Time but you can in fact teach piano...would this mean u don't have
the opportunity, therefore Ballast?
[13:32:48] gromit: {linda4} Ballast would be where my chils was already ace at piano
[13:32:58] gromit: it's not really tim so much as need
[13:33:22] linda4: oh...so we are looking at the perspective of the Subs./child
[13:33:50] faraaz: {gromit} what are the most important thinhs to know on project management
[13:33:55] gromit: What is called Benefit on the matrix is whether the subsid
[13:34:01] gromit: could benefit form help
[13:34:07] linda4: oh
[13:34:08] linda4: ok
[13:34:13] linda4: thanks
[13:34:21] gromit: What's called fit is whether the parent has the skills to provide help if needed
[13:34:43] linda4: that was helpful
[13:34:48] gromit: good
[13:34:50] linda4: understand better now
[13:35:04] gromit: read that article!
[13:35:23] gaurimaini2191: thank you..
[13:35:28] linda4: ok
[13:35:28] leo2010: thanks
[13:35:34] gromit: ;)
[13:36:55] linda4: what is Ohmae 5 Cs?
[13:37:20] linda4: like why/when do we use it?
[13:37:39] gromit: Sorry, don't know :cry:
[13:37:46] aleeza: ermm could you plz explain the diff between value systems and value chain
[13:37:49] gromit: Not mentioned in the study guide
[13:38:06] gromit: where have you come across it?
[13:38:13] faraaz: {gromit} main things to know on project management
[13:38:15] leo2010: old sylabus Ohmae
[13:38:17] linda4: well I'm hoping it doesn't come
[13:38:21] leo2010: 3.5
[13:38:48] linda4: Its in my BPP pocket notes
[13:38:52] leo2010: not examinable for P3
[13:39:00] linda4: I hope not
[13:39:03] gromit: {aleeza} value system is the way you organise youe suppliers and distributers
[13:39:22] gromit: value chain tends to be more internal: the way you organise yourself
[13:39:56] cutefriend: value system is for like internal matters ..to organise
[13:40:04] cutefriend: sorry
[13:40:13] cutefriend: mean to say value chain is for internal
[13:40:17] gromit: yes
[13:40:19] cutefriend: and value system is for internal
[13:40:35] gromit: though the discinction internal/external is hazy
[13:40:42] gromit: so supermarkets are very good at
[13:41:06] gromit: predicting inventory movement - that's part of their value chain - not to run out of
stock
[13:41:15] gromit: and they carefully organise their supplier
[13:41:41] gromit: to deliver promptly - that's part of their value system or network
[13:42:14] gromit: chain = a number of links working together
[13:42:38] gromit: inboud logistics - operations outbound etc
[13:43:01] cutefriend: {gromit} can u plz give me the overview of Ashridge portfolio display
[13:43:15] gromit: did it just above
[13:43:21] gromit: will be on the transcript
[13:43:29] cutefriend: okye thx i will chk it
[13:43:33] gromit: ok
[13:43:59] aleeza: redarding the supermarket example ...ithe inventory would be the part of value chain
rite?
[13:44:12] faraaz: {gromit} how about hrm,likely to come?
[13:44:31] gromit: their inventory management would be: it's part of their operations and sales
activities
[13:44:57] aleeza: ok yh clear now thank you
[13:45:00] gromit: {faraaz} Don't think so other than culture and organisational structure
[13:45:52] faraaz: {gromit} what are the most importnat models to know
[13:46:04] nshashmi: could you please elaborate on PROCUREMENT and INBOUND LOGISTICS in VALUE
CHAIN
[13:46:29] aleeza: you no in the organisational structure there is mitzberg model and shamrock model
could u plz give an overview on that
[13:46:35] gromit: 5 forces, PESTEL, SWOT, resources (M-words) generic strategies, Ansoff's Matrix
[13:46:35] linda4: especially E-procurement
[13:46:39] nshashmi: how the two are different ...
[13:47:22] gromit: {nshashmi} Procurement is buying anything: stock for resale, non-current assets.
[13:47:35] gromit: inbound logistics is the receipt of goods for resale
[13:47:50] gromit: I'm not convinced the distinction is that helpful
[13:48:04] gromit: but that's what Porter did on the value chain
[13:48:14] gromit: e-procurement is finding where to
[13:48:22] gromit: buy using, say, the web
[13:48:28] gromit: finding suppliers
[13:48:32] gromit: sendin orders,
[13:48:38] gromit: reverse auctions
[13:49:14] gromit: electronid data interchange
[13:49:56] nshashmi: so basically the procurement and inbound logistics overlap ......at least for STOCK
PURCHASES
[13:50:00] faraaz: {gromit} please explain porters diamond
[13:50:04] nshashmi: STOCK for resale
[13:50:24] gromit: {nshashmi} yes - more or less indistinguishable in my humble opinion
[13:50:31] nshashmi: got it
[13:51:11] gromit: So, where are you all? What countries?
[13:51:24] leo2010: UK
[13:51:29] cutefriend: Pakistan
[13:51:35] nshashmi: PK right now
[13:51:46] faraaz: cape town south africa
[13:51:59] gromit: ok
[13:52:03] gromit: time there?
[13:52:06] linda4: Trinidad & Tobago
[13:52:20] gromit: great rangE!
[13:52:23] nshashmi: 10:52 PM Pakistan Standard time
[13:52:25] Jings: malaysia -1.52 am
[13:52:28] linda4: 1:52pm
[13:52:29] cutefriend: 10:51 PM in pak
[13:52:32] faraaz: {gromit} please explain porters diamond
[13:52:35] gromit: 1.52!
[13:52:38] nshashmi: jings must be sleepy
[13:52:50] Jings: i just wake up 2 hours ago..haha
[13:52:55] cutefriend: lolz
[13:53:00] linda4: {Jings} 12hrs difference
[13:53:00] gromit: {faraaz} Ignore it. Came up last time and not generally useful
[13:53:07] nshashmi: good morning jings
[13:53:27] linda4: {gromit} lol...Porter wouldn't like u saying that
[13:53:28] Jings: morning.. :)
[13:53:34] leo2010: what do you advise doing fro now until the exam date?
[13:53:39] nshashmi: lols LIN
[13:53:51] leo2010: question practice?
[13:53:54] gromit: {linda4} he might agree with me! Age brings wisdom
[13:53:59] linda4: lol
[13:54:00] linda4: lol
[13:54:01] faraaz: {gromit} any other tips
[13:54:02] gaurimaini2191: lol
[13:54:09] leo2010: only onny old p3 papers
[13:54:16] gromit: Fomr now on concentrate on questoins
[13:54:31] linda4: okay
[13:54:33] gromit: {leo2010} many of the 3.5 are still ok
[13:54:43] gaurimaini2191: past papers + rev kit right?
[13:54:44] leo2010: ok thanks
[13:54:45] gromit: Do you have tutors revision kits?
[13:54:53] gromit: {gaurimaini2191} yes
[13:55:00] gromit: If the answers have something
[13:55:05] gromit: you don't understand
[13:55:11] gromit: then turn to notes/tests
[13:55:14] linda4: {gromit} are u still marking answers?
[13:55:24] gromit: remember most of this exam is about applying models
[13:55:26] aleeza: how should we attempt questions like should we read scenario and then rite breif
notes or should we write the answer in full
[13:55:29] gromit: {linda4} yes
[13:55:50] gromit: {aleeza} Use the 15 minutes revision time
[13:55:58] gromit: to really get to know the scenario
[13:56:07] gromit: you can plan the answer on the question paper
[13:56:14] faraaz: iys too long lol
[13:56:16] gromit: then write out in full when allowed to start
[13:56:18] faraaz: its
[13:56:21] cutefriend: how about the time managment in exam ?
[13:56:32] linda4: {gromit} okay I've yet to submit one...would try to submit one
[13:56:47] gromit: {cutefriend} leave time to attempt all four questions you are required to
[13:57:02] gromit: do scenario first
[13:57:07] gromit: ie Q1
[13:57:09] cutefriend: {gromit} but Q 1 too much tricky :(
[13:57:16] nshashmi: there was a video on OT on using 15 mins time...found it quite helpful
[13:57:22] cutefriend: is there any way to tackle it in the given time
[13:57:22] gromit: It's 50%
[13:57:30] gromit: if you don't do it first and devote
[13:57:31] linda4: not only that they are so long to read
[13:57:32] leo2010: how should we use first 15 minutes?
[13:57:34] gromit: your reading time to that
[13:57:41] gromit: you will not leave enough time
[13:57:46] gromit: to understand it later
[13:57:57] leo2010: all to q1?
[13:58:01] gromit: it is tricky, but postponing it won't make it easier
[13:58:11] gromit: {leo2010} Yes
[13:58:13] nshashmi: long scenarios are always problem.....
[13:58:20] aleeza: ok thnks but no no wat i meant wa in the revision phase when doing kit ... should we
jst stick with spider diagrams r answer in full for more command over subject???
[13:58:44] gromit: {aleeza} Ok, when using KIT don't write out in full
[13:58:48] aleeza: i agree nhashmi
[13:58:54] nshashmi: how to tackle that....if you read in one go you may have to come back again to
read it it and waste time.......
[13:59:05] leo2010: i think the strategy is to score around 30 in q1 - quite vital
[13:59:22] gromit: {leo2010} You wwant >25% there
[13:59:31] gromit: ie over 25 marks
[13:59:37] aleeza: ;)
[13:59:39] Jings: can we just practise pyq &kit until the exam date, dont understand then go for notes,
and just revision what has discuss just now.?
[14:00:00] gromit: {Jings} Yes
[14:00:20] gromit: only go to notes/text on a need-to basis
[14:00:26] Jings: oh..thanks... im run out of time... ;)
[14:00:29] gromit: ok
[14:00:34] gromit: anyhow
[14:00:49] gromit: there's one more P3 session early Dec
[14:01:02] gromit: in the meantime you can post questoins on the forum
[14:01:08] linda4: {gromit} okay great
[14:01:15] leo2010: when in dec?
[14:01:15] gromit: Nice chatting everyone
[14:01:21] gaurimaini2191: ok great
[14:01:26] nshashmi: what date the session will be on
[14:01:32] gaurimaini2191: thank you for all your help
[14:01:34] gaurimaini2191: :)
[14:01:34] gromit: 8th
[14:01:41] leo2010: many thanks
[14:01:43] linda4: {gromit} Thanks for your help and wisdom...until next time!
[14:01:48] gromit: by all!
[14:01:48] aleeza: ok thanku so much
[14:01:51] Jings: thanks and appreciated your help.
[14:01:53] cutefriend: thxx alot
[14:01:53] nshashmi: thanks
[14:01:54] aleeza: babye
[14:01:57] leo2010: for your help
[14:01:58] cutefriend: bye bye