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    Helo ever1/…i hope everry1 ok…i have started studying p3…i am confused about the changes. I gave the read the technical articles,,,can ne1 help which part/area is removed from the syllabus…i think i under what new has been added,,,,,

    1—”Section F
    The original section F was on quality management. This
    has been removed from the syllabus. The new section F is
    a restructuring and extension of the original section G –
    project management.”’

    does this mean that quality management /tqm/tqm model are removed from P3 syllabus ??

    2—-”Section F
    The original section F was on quality management. This
    has been removed from the syllabus. The new section F is
    a restructuring and extension of the original section G –
    project management.
    A completely new Study Guide subject area is included under
    F2. This looks at building the business case for a project. The
    background material for this section is provided by another
    book added to the Reading List. This is Benefits Management by
    John Ward and Elizabeth Daniel, published by Wiley.
    Here are the detailed learning objectives within this new
    subject area on Building the Business Case.
    a Describe the structure and contents of a business
    case document.
    b Analyse, describe, assess and classify the benefits of a
    project investment.
    c Analyse, describe, assess and classify the costs of a
    project investment.
    d Establish responsibility for the delivery of benefits.
    e Explain the role of a benefits realisation plan.
    Introducing this subject area into the syllabus provides
    candidates with the opportunity to study contemporary benefits
    management theory, including the classification of benefits
    and the need to distinguish between financial, quantifiable,
    measurable and observable benefits.
    It also allows the assessment of investment appraisal using
    standard techniques such as the accounting rate of return,
    time to pay back, net present value and the internal rate of
    return. An evaluation of the strengths and weaknesses of these
    techniques will also be expected.
    An example of how this subject area might be assessed is
    provided in the revised Pilot Paper.”

    Is this talking about F2 or this part is included in p3 as well ??

    3—- As well as introducing the subject area on building the
    business case, there have also been a few structural changes to
    the project management content.
    Specifically these are:
    ¤ Study Guide learning objective F4e recognises the need to
    integrate gateways and benefits management into the formal
    monitoring of projects. Gateways will consider whether the
    project is still on track. For example, they would check that
    there had not been scope creep in project requirements.
    The business case will also have to be re-visited to ensure
    that the business case that initially justified the project was
    still appropriate.
    ¤ In Study Guide objective F5b, the syllabus now distinguishes
    between a post-project review (about the project) and a
    post?implementation review (which is primarily about the
    product produced by the project).
    ¤ Learning objective F5c concludes the benefits management
    theme, stressing the need to see whether the benefits
    identified in the original business case were realised and that
    cost assumptions were correct.
    ¤ Study Guide learning objective F5e recognises the need for
    lessons learnt to be fed back into the project management
    and benefits management process.
    Overall, the project management section has been strengthened
    in the revised syllabus. Candidates must ensure that they
    cover it thoroughly. Evidence from Past Papers suggests that
    many candidates.

    Is this addition or highlight talking about p3 or F2 ??

    4—-Section G
    This section of the syllabus concerns Financial Analysis. This
    was previously within section H in the original syllabus. A
    complete subject area has been added to this section. It is G3
    and the original H3 has become G4.
    This completely new subject area concerns the role of
    cost and management accounting in strategic planning
    and decision-making and is assessed through the following
    learning objectives:
    a Explain the role, advantages and possible limitations of a
    budgetary process.
    b Explain the principles of standard costing, its role in
    variance analysis and suggest possible reasons for
    identified variances.
    Ca ndidates ar e encourag ed to
    take a wide view of the pricing
    pr ocess . They shoul d consider
    the pricing objectives of the
    organisation and how demand
    could be determined
    Studying Paper P3?
    Performance objectives 7, 8 and 9 are relevant to this exam
    student accountant issue 17/2010 02
    c Evaluate strategic and operational decisions taking into
    account risk and uncertainty using decision trees.
    d Evaluate the following strategic options using marginal and
    relevant costing techniques.
    i Make or buy decisions
    ii Accepting or declining special contracts
    iii Closure or continuation decisions
    iv Effective use of scarce resources
    The content of this subject area should be very familiar to
    candidates. It complements the financial accounting references
    of this syllabus (in Study Guide subject area G4).
    As a guide to the content of, and level at which G3 and G4
    will be examined, the book Accounting and Finance by Peter
    Atrill and Eddie McLaney, published by Prentice Hall, has been
    added to the Reading List. The content of this book is at an
    appropriate level for this exam. However, in reality, candidates
    will know much more from their previous studies. Again, the
    challenge will be to use this knowledge in a wider business
    environment, in the context of a specified case study.
    Section G was previously Section I in the original syllabus.
    Two complete subject areas within this section have been
    removed. These are I2 (performance management) and I3
    (reward management).

    do we have to do calculation for costing, make or buy, close or retain etc ?

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