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 paper as questions are directed at describing, improving and reporting on performance management systems.
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.
WOW!!!!!!!!!!!!!! Great Performance 10 10 s.
Pls how can I download video lectures
Lectures are not downloadable.
Guys,
I can’t get any online videos?
Any support?
On-line lectures are available on-line only. They cannot be downloaded.
Hello sir, I am really confused between Performance Management and Performance Measurement. Kind help me by letting me know what is the difference.
First you set targets (eg budgets or other targets)
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.
Are questions from as far back as 2007 definitely on the ACCA web site?
No, but they can nearly always be found using Google and searching something like:
ACCA P5 June 2007 “Question name”
Use P5 instead of APM as a search term.
Hi Team,
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.
Because of the Covid-19 virue pandemic, you need to check here to see if there will be a June 2020 examination session in your country:
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.
APM PASSED from my first attempt!
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!!!
Congratulations. Thank you for your kind words and for sharing your approach to studying for this exam.
You are so excellent. This is my second attempt.
Is there any updated past paper questions available as ACCA past papers only go back to 2015?
Are these lectures valid for December 2019?
Also, your lectures are really good.
Thank you guys for this wanderfull side it’s really a great help. I took f5 two years ago and I’m in for p5 this December section I’m kind of rusty now with f5 knowledge so I don’t really know how to prepare for the p5 I need some guidance on how to approach this.
Read the notes and listen to the lectures, but then your emphasis must be on attempting questions. This is not an exam that expects you to describe theories: it expects you to solve questions, applying theory and techniques as necessary.
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.
Thanks a lot. Fill a little confident now
Thank you guys for this wanderfull side it’s really a great help.
Thanks Ken for this video lecture and also that of the introductory aspect. It was indeed very helpful. Actually I passed PM with 51% in December 2018 and I’m planning to attempt APM in December this year.
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.
After going through the study text, I learnt that there’s is a link between CSFs and KPIs. CSFs are the areas in the business where things must go right in order for the business to succeed. KPIs are the measures use to evaluate the achievement of CSFs.
the lectures are good for december 2018 exam as well
Correct 🙂
Our lectures are always updated for the current syllabus.
Thank you for the lectures. Can you please shed more light on how we arrived at $45000 revenue. 2007 question 3: the healthy eating group.
Hi! Thank you very much for the lectures, they are always very helpful!
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 ?
Hi Open Tuition,
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.
With regards to the suggesting questions for chapter one in APM, the ACCA website only has past exams from December 2013 upwards and the suggestions were Dec 07, 09 and 10. Is it possible to get suggesting questions within what ACCA has on their website?
You can usually find copies copies of older questions by Googling something like
P5 ACCA December 2010 ‘Question name’
Okay thank you.
U understand the lectures are fine for Sep 18, are there any more revision lectures going to be added? what other book you recommend for practice past questions.
sorry I meant I understand
No further revision lectures are planned for Sept 2018. To get more practice either BPP’s or Kaplan’s question practice/revision kits are fine. You get a 20% discount if you order BPP books through the OpenTuition site.
Don’t forget to look at the ACCA technical articles.
Please can you tell me if this material will still be used September 2018 or is it likely to change and when will the new materials be made available? Thanks
It is fine for September.
What about for December 2019?
Thank you for the good lectures apparently the practice questions December 2007/09/10 are not available anywhere not even on google.Infact anything prior to 2013 is not available