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.
major1stest says
WOW!!!!!!!!!!!!!! Great Performance 10 10 s.
fanimokun says
Pls how can I download video lectures
Ken Garrett says
Lectures are not downloadable.
ojok says
Guys,
I can’t get any online videos?
Any support?
Ken Garrett says
On-line lectures are available on-line only. They cannot be downloaded.
rishijain says
Hello sir, I am really confused between Performance Management and Performance Measurement. Kind help me by letting me know what is the difference.
Ken Garrett says
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.
cahilljm says
Are questions from as far back as 2007 definitely on the ACCA web site?
Ken Garrett says
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.
ojok says
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.
Ken Garrett says
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.
Spiro says
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!!!
Ken Garrett says
Congratulations. Thank you for your kind words and for sharing your approach to studying for this exam.
Nhan says
You are so excellent. This is my second attempt.
marycheasty0344 says
Is there any updated past paper questions available as ACCA past papers only go back to 2015?
manthan007 says
Are these lectures valid for December 2019?
Also, your lectures are really good.
nkengdieudonne says
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.
Ken Garrett says
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.
nkengdieudonne says
Thanks a lot. Fill a little confident now
nkengdieudonne says
Thank you guys for this wanderfull side it’s really a great help.
Samuel Koroma says
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.
Samuel Koroma says
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.
farhansyed says
the lectures are good for december 2018 exam as well
John Moffat says
Correct 🙂
Our lectures are always updated for the current syllabus.
4tcube says
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.
leilasak says
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 ?
gnwokeoha21 says
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.
kadi21 says
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?
Ken Garrett says
You can usually find copies copies of older questions by Googling something like
P5 ACCA December 2010 ‘Question name’
kadi21 says
Okay thank you.
chullbulla says
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.
chullbulla says
sorry I meant I understand
Ken Garrett says
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.
dejoke says
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
Ken Garrett says
It is fine for September.
bkkif1 says
What about for December 2019?
123tonde says
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