APM
The Nature of Performance Management - ACCA Advanced Performance Management (APM)
This chapter looks at what is meant by “performance management”. It is essential to understand that term if you are going to succeed in this exam as questions are directed at describing, improving and reporting on performance management systems.
YouTube video
Performance management
It is presumably obvious that organisations will want to improve their performance. However, it is not at all obvious how good performance should be defined. This will differ between organisations and departments within those organisations, and will often vary over time within a single organization or department.
APM does assume a knowledge of PM, but rather than for example, producing a variance statement, it is more likely to present you with one and ask you to assess its usefulness and what other information might be needed.
If you start studying APM and DO LOTS OF PRACTICE QUESTIONS I think you will be able to reawaken PM/F5 skills as you go along.
do email me at [email protected].
Study the notes and lectures first (BOTH) then start trying questions from the exam kit. You do not have to write out full answers but at least make drafts about what you would have said and always try to complete the calculations. Be very critical of yourself when comparing your answer (or answer plan) to the model answer.
I can't get any online videos?
Any support?
Then you measure actual performance (performance measurement)
Then you manage performance to make sure that actual performance is at least as good as target performance.
So, you have a target for costs of, say, $600,000. Actual costs are $650,000 (performance measurement)
Performance management would entail taking action to save $50,000.
ACCA P5 June 2007 "Question name"
Use P5 instead of APM as a search term.
I attempted APM is December 2019 and I failed. I would like to attempt it again in June 2020.
What would be your advice to me Mr Ken Garrett because I am reading on my own.
https://www.accaglobal.com/uk/en/cam/coronavirus/june20-exams-global.html
The advice I would give is to practice questions and to very carefully review your answers: did they address the requirements? Did they make use of data in the questions? Have they moved the problem forward eg an analysis of the data that allows conclusions to be drawn.
Don't rely too much on models. Approach questions form a common sense point of view. Use models if useful but also to display your knowledge. What I'm trying to say is common sense first: fit models later. Obviously, if on reading a question, you spot where a model could be useful, then apply it.
100% I used OpenTuition resources, and ACCA technical articles and past papers.
Thank you very much Mr Ken Garrett!!! You are a phenomenal!
My approach was following:
1. Watch carefully each lecture,
2. Download and read the OpenTuition notes, and did all past exam questions recommended by Mr Ken Garrett.
3. Read all technical APM articles on ACCA site.
One week before the exam I did the specimen exam and the past 4 papers available on ACCA site. One paper per day.
Good luck to everyone!!!
Also, your lectures are really good.
If there are big blanks in your ability when you try questions you might have to revise those parts of F5 if that is where your knowledge is lacking.
Ken is there any difference or link between CSFs and KPIs?
I think that organisations need to maintain a balance when dealing the competing claims of different groups of stakeholders in order to help reduce conflict of interest taking into account broader economic and social responsibilities.
Our lectures are always updated for the current syllabus.
Are these lectures fine for December 2018 session? and one more question, is the syllabus the same or it has some changes from June 2018 ?
I have exemptions from papers F1 to F9 since 2007. I am only just now starting ACCA from the professional level and I intend to begin with P5.
I have bought an F5 Kaplan study text to use in conjunction with the Open Tuition notes and lectures. Can you please advise on the topics I should focus on while studying the F5 study text relevant to the P5 exam.
In addition, are there any specific real life scenarios that are available to read relevant to both F5 and P5. This would aid understanding the concepts while studying.
Lastly, I am also looking to use the SBL notes and lectures in the P3 area which is relevant for P5 without purchasing a study text. Would this be sufficient?
Please advise.
P5 ACCA December 2010 'Question name'
Don't forget to look at the ACCA technical articles.
Try something like ACCA P5 December 2008. If you know a question name, then that helps.
Whole papers from 2015 are not available anywhere as they have never been published.
Best wishes for your future career.
Kind regards,
Ken Garrett.
But took a long gap for 3rd attempt now.Any tips to success? And how to get in touch again with the paper.
Keep up with good work.
Mission statement (overall aim of organisation)
Strategy (long-term plan to meet organisational objectives)
Objectives (things that organisation wants to achieve)
Critical success factors (areas that the company must excel in)
KPI's (measurable elements in line with CSF)
Measures (performance that is measured aimed at achieving objectives)
The way I understand is that objectives are all aims, CSF are the important ones... Measures show achievement of objectives, KPI's show achievement of important ones.
Please let me know if I've got that right??
Objectives tend to be very precise and often follow the SMART format: specific, measurable, achievable/accepted/relevant, time-limited.
LONG LIVE OT!!!!
I suggest you print out the notes. Listen to the lecture then immediately study the notes.
Don't forget to try questions.
Is it possible to download these notes and listen to them off-line? Please help
Keep up the good work.