Performance management—the processes that ensure organisations meet their objectives—is core to the Performance Management syllabus, and understanding modern performance measurement systems is an important area within this topic. Performance Management students should already be familiar with Kaplan & Norton’s Balanced Scorecard which is a regularly examined topic and one of the foundations of modern performance…
Performance evaluation is a regularly examined requirement in the F5 Performance Management exam, and is a topic that students tend to misunderstand and struggle with. Often examined as a full, 20 mark requirement, the task of crafting a free-form answer that incorporates both supporting calculations and a developed, written discussion is a daunting task. It’s…
Information systems (IS) is a topic you need to be ready for in all sections of the Performance Management exam. The examiner reports state that students regularly overlook this area of the syllabus, so make sure you cover it during your studies. Information systems (IS) are critical for Performance Management (PM). Information systems greatly aid…
‘Relevant costs’ can be defined as any cost relevant to a decision. A matter is relevant if there is a change in cash flow that is caused by the decision. The change in cash flow can be: additional amounts that must be paid a decrease in amounts that must be paid additional revenue that will…
Big data is part of the Performance Management syllabus. But what exactly is big data? Big data is part of the Performance Management syllabus. What is big data? There are many definitions of the term ‘big data’ but most suggest something like the following: ‘Extremely large collections of data (data sets) that may be analysed…
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