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Sir First of all thank you so much for the lectures. I have completed all your lectures along with the practice questions after every chapter and I have purchased Kaplan revision kit for practice and need to start.Is that revision kit enough for me to score 60/70 marks in the PM exam because I am really aiming for 60+ marks.I am awaiting for your guidance.
Thanks in advance
Yes – if you use the Revision Kit properly then you should be able to score good marks.
By ‘properly’ I mean that you should attempt questions before looking at the answer – and then learn from your mistakes (and look back at the relevant lecture if you realise you have forgotten something. Do not write in your Revision Kit – when you have attempted all the questions you should then attempt them all over again 🙂
Finally make sure you attempt the mock exams under time pressure – it is when you are under time pressure in the exam that you are more likely to misread questions or make silly mistakes however well you know the topic involved.thank you sir will follow your guidance for sure.I have few queries from revision kit till now..
Query 1- Which one of the following is described as expert system and why..?
OPTION-A..An ATM dispensing cash provided there is enough money in the account or
OPTION-B..A Tax calculator which predicts the level of tax payable in different scenarios.Query2-Do life cycle costing takes into account all costs incurred in a product life cycle including sunk costs incurred on research and development..?
1. Option B is an example of an expert system – it has been programmed with all the relevant ‘rules’ and can therefore provide a solution to a problem.
2. We include all costs, including sunk costs (see the following post: https://opentuition.com/topic/life-cycle-costing-17/
Sir an ATM is also programmed with all relevant rules to disburse cash or deposit cash na..?so why isnt ATM machine is a expert system..??
And why material would not normally be used to describe a relevant cost for a decision..?
An expert system like a computerised reference manual, so instead of looking up all the tax rules in a book, the expert system has all the rules.
An ATM does not make decisions – it simply does what it is told to do.
So that means since a tax calculator predicts tax payables for different scenarios ,it means it is giving the indirect decisons so that is why tax calculator is a expert system .Is it right sir..?
Thanks in advance sir
It is management who will actually make the decision, but it is the expert system that will tell them what the rules are (because it knows all the tax rules).
okay thank you sir.
Another query from the revison kit.
1-How redundancy payments to the supervisor of the product in question is a consideration in a make or buy decision?In future, please start a new thread when you are asking about a different topic. (The reason is that many students use the ‘search’ box to look for help on specific topics, and our answers are here to help everyone).
With regard to your question, it depends on the exact wording of the question, but if the buy option will mean that the supervisor is no longer needed and therefore the company has to pay redundancy, then this is a cost of choosing the buy option.
Yeah sure sir from next time…
Coming back to your answer it means redundancy payments are some type of salary or wages and if we buy, it indicates supervisor is no longer needed and therefore no redundancy payments to the supervisor.So it is the indirect cost of buy option and hence requires consideration because such costs would have been incurred if we had made that product. Am i right sir..?
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