Study and Exam Techniques

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This topic contains 6 replies, has 5 voices, and was last updated by avatar bp2012 1 year, 4 months ago. This post has been viewed 45 times

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  • Avatar of angryhamtaro
    angryhamtaro
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    • Topics: 9
    • Replies: 162

    Hello OT forummers, I was the past exam candidate for the previous June 2012 exams and I passed it. I would like to share my experience to you guys on how you could prepare for your P5 exam up ahead:

    1) Have you read ALL of the technical articles? There were no new TAs, hence suggesting ALL topics will be examinable. Also marking schemes appear to adhere to points made in the TAs, so every old and new TA is important.

    2) Have you revised ALL PYQ? Your chances of passing could increase if you can cover questions on all topics, rather than playing by luck and hoping a certain model or chapter would come out.

    3) Expect the unexpected! Be very careful not to rely too much on question spotting. There’s the risk of spotting a question successfully… but you don’t know how to answer it. (as what have happened in June 2012, everyone knew performance prism will come out, and it did, but unfortunately couldn’t answer it. Reason? Few exam candidates read the TA… the rest read the text books and lecture notes.)

    4) Alex Watt has a strong tone for ‘information relevance’ and ‘how information can be used for relevant decision making’. Bear this in mind when it comes to models and applying them to the case. (ie. How would performance reporting be made easier if we used this model? How would this performance reporting affect management behavior?)

    Alex Watt notes in his comment ‘Most students do not care what the client wants, but more concerned about what the client can do’. So be careful not to “answer your own question” and dumping your client away.

    5) Alex Watt is different from the methodical Shane Johnson; he needs you to understand the question requirements very closely. He will NOT tell you what model to apply – he expects you to know. (*ouch)

    The student was supposed to figure out which methods he was referring to base on the situation and general requirements. In this case, the student was required to make a judgement call on what model was the most suitable given the information available and general requirements of the question (which mirrors the real world)

    6) Are you getting stronger in your F5 knowledge like learning curve? Check up OpenTuition revision videos to freshen up your F5. Once you have done that, back up your knowledge on its theory. Often Alex Watt’s questions combine a mixture of applying both theory AND calculation.

    7) P5 is famously known for being very hectic with timing. Make sure you have sufficient time to complete all four questions. My experience – I finished the fourth question on the very last minute. One mark equals 1.8 minutes – if you exceed the time for one question, just move on ahead to the next question. Your job is to secure as much marks as possible.

    Lastly, keep this in mind when analysing the case:

    What are things that you should understand about the client before you sell them a solution?
    Their objectives
    Their constraints
    The environment in which they are operating in
    Their current systems and culture
    The staff ability to change
    The customers and what they want
    The suppliers and the issues that they cause

    Good luck everyone! Alex Watt is not scary at all if you know the proper way to ‘taming him’. :)


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    zuiis
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    • Topics: 11
    • Replies: 25

    thanx i appreciate ur work regarding this plz can u elaborate your point 4 because i also noticed his information relevance tone but cant grip his approach


    Avatar of angryhamtaro
    angryhamtaro
    Participant
    • Topics: 9
    • Replies: 162

    Hi @zuiis, a simple example comes from Q1 of the June 2012 paper. The case gives you a whole bunch of wacky, confusing data and it’s your job to classify the data into useful information for different levels of the management (ie. operational, tactical and strategic). You can also use BCG model to classify products in terms of market share and growth, and label them as dogs or stars to let the management know which products they should focus on to drive their profits.

    There’s also another good question, but I forgot about it right now. It’s another Alex Watt question in relating to performance pyramid. The question won’t tell you to use performance pyramid, but the question do give you clues to indicate that you should use it to simplify and make sense to the data given in the case based upon your client’s requirements.

    Alex Watt’s questions will lure you into doing the calculations first and then interpreting it, which can be a big mistake if you don’t read the question requirement properly. An example of a question like this is Q1 Mackarel Co, Dec 2011 paper. Students did the calculations and put it into part (a), only upon their horror that they found out later that the calculations were only asked in part (b).

    Hope this helps!


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    thamaem
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    • Topics: 0
    • Replies: 3

    Thanks a lot for the techniques on how to kill this monster. angryhamtaro here is a question that I would like you to help me with. What’s the difference between perfomance measures and KPI’s, and please give an example for each.


    Avatar of angryhamtaro
    angryhamtaro
    Participant
    • Topics: 9
    • Replies: 162

    Hi @thamaem, monsters do not need to be killed, but they can be tamed! :)
    (hoping after the exam, do keep your emotions intact)

    Here’s links to give you more information on each aspect of performance measure and KPI. Usually KPIs are more specific measures that will orientate your company to achieve success. (ie. A restaurant’s profits depends on how courteous your waiters are. Feedback comes through good customer praises and recommendations, which would affect the waiter’s KPI scoring and will increase their bonus, hence motivating them to care for their customers.)

    Try out a question on The Sentinel Co (courier company). I forgot which one is it, I think it’s Shane Johnson’s question.

    http://en.wikipedia.org/wiki/Performance_measurement

    http://en.wikipedia.org/wiki/Performance_indicator


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    angelamyangel
    Participant
    • Topics: 1
    • Replies: 20

    thanks alot hangrhamtaro.

    i am a victim of Alex’s Watt’s tricks in last June sitting. where i answered Q1. A as an answer for Q1.B. Not reading and understanding the question is a weakness most of us students have.

    i promise to make you proud by using all the insights you have impacted us.

    Thanks once more man!


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    bp2012
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    • Topics: 0
    • Replies: 4

    p5 third time lukcy in dec 2012? lets hope so!

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