You are on page 1of 5



%X\WKLVLVVXH
6KDUHRQ)DFHERRN
6KDUHRQ/LQNHG,Q
6KDUHRQ*RRJOH
5HDG$EVWUDFW
'HFHPEHU-DQXDU\_9ROXPH_1XPEHU
*HWWLQJ6WXGHQWVWR0DVWHU\

7KH9DOXHRID3RLQWOHVV(GXFDWLRQ
-D\&3HUFHOO
$JUDGLQJV\VWHPWKDWHOLPLQDWHVSRLQWVSURPRWHVLQWULQVLFPRWLYDWLRQDQGWUXHFRQWHQWPDVWHU\DPRQJ
VWXGHQWV
,WZDVVSULQJ7KHVHPHVWHUZDVZDQLQJDQGVXPPHU
VSURPLVHRIIUHHGRPDQGH[FLWHPHQWZDVWDQJLEOHDWRXUODUJH
VXEXUEDQKLJKVFKRROZHVWRI3KRHQL[$UL]RQD+RZHYHUWKHWKJUDGHVWXGHQWVLQP\$PHULFDQOLWHUDWXUHFODVVDQG,
VWLOOKDGVRPHZRUNWRGR,KDGMXVWUROOHGRXWRQHRIRXUIHZUHPDLQLQJDVVLJQPHQWVDQGDIWHU,ILQLVKHGVSHDNLQJWKH
FODVVVDWLQVLOHQFHXQWLODEROGVWXGHQWDVNHG0U3HUFHOOKRZPDQ\SRLQWVLVWKLVZRUWK"
$V,ZDWFKHGWKLVVWXGHQWPHQWDOO\FDOFXODWLQJSHUFHQWDJHV,NQHZZKDWKHZDVUHDOO\DVNLQJ'R,KDYHWRGRWKLV
DVVLJQPHQWDWDOO":LOOP\JUDGHEH2.LI,WDNHD]HUR"7KLVZDVWKHPRPHQWZKHQWHDFKLQJFKDQJHGIRUPHDQG,
EHFDPHGHWHUPLQHGWRUHGHILQHZKDWHGXFDWLRQDQGOHDUQLQJPHDQWDWOHDVWZLWKLQP\RZQFODVVURRPLIQRZKHUH
HOVH
,GHFLGHGWRUHVWUXFWXUHP\FODVVHVWRIRVWHUDXWKHQWLFPDVWHU\OHDUQLQJDQGLQFUHDVHP\VWXGHQWV
LQWULQVLFPRWLYDWLRQ
DVRSSRVHGWRVLPSO\KDYLQJWKHPDFFXPXODWHSRLQWVWRJHWDJUDGH7KLVMRXUQH\ZRXOGOHDGPHWRH[SHULPHQWZLWK
JUDGLQJDQGWRXOWLPDWHO\GHYHORSZKDW,FDOOWKH1R3RLQWV*UDGLQJ6\VWHP

7KH3UREOHPZLWK3RLQWV
5HIOHFWLQJRQP\VHYHQ\HDUVDVDVHFRQGDU\WHDFKHU,FRQFOXGHGWKDWWKHSRLQWYDOXHVDVFULEHGWRDVVLJQPHQWV
KLQGHUHGWUXHDXWKHQWLFOHDQLQJDPRQJP\VWXGHQWV,FRXOGVHHWKUHHZD\VWKDWSRLQWVFUHDWHGDSUREOHPLQP\
FODVVURRP  3RLQWVZHUHPHDQVWRDQHQG  3RLQWVZHUHH[WULQVLFUHZDUGVDQG  3RLQWVDVFULEHGDVRPHWLPHV
PLVOHDGLQJYDOXHWRDVVLJQPHQWV

3RLQWVDVD0HDQVWRDQ(QG
0DQ\RIP\VWXGHQWV
SULPDU\FRQFHUQZDVQRWZKDWWKH\OHDUQHGRUZKDWVNLOOVWKH\JDLQHGEXWZKDWILQDOJUDGHWKH\
ZRXOGUHFHLYH:KHQ,SROOHGVWXGHQWVLQIRUPDOO\DODUJHPDMRULW\LQGLFDWHGWKDWWKH\GLGQRWQHFHVVDULO\FDUHZKHWKHU
WKH\OHDUQHGDQ\WKLQJLQDFODVVDVORQJDVWKH\JRWDQ$ RUD%RUZKDWHYHUOHWWHUJUDGHWKH\GHHPHGVDWLVIDFWRU\ 
8VXDOO\WKHLUGHVLUHVIRUWKHVHOHWWHUJUDGHVZHUHH[WULQVLFDOO\IXHOHGE\WKHGHVLUHIRUDKLJKFODVVUDQNRUJUDGHSRLQW
DYHUDJHRUIRUVXFKLQFHQWLYHVDVFHOOSKRQHSULYLOHJHVFDULQVXUDQFHSD\PHQWVDQGHYHQRXWULJKWFDVKIRUJUDGHV
IURPSDUHQWVRUJUDQGSDUHQWV7KLVPHQWDOLW\VHHPHGWRKDYHZKDW(GZDUGVDQG(GZDUGV  UHIHUUHGWRDVD
FULSSOLQJHIIHFWRQOHDUQLQJ S 

3RLQWVDV([WULQVLF5HZDUGV




+RZPDQ\WLPHVKDVDWHDFKHUODPHQWHG7KDWDVVLJQPHQWZDVZRUWKSRLQWV,FDQ
WEHOLHYHWKLVVWXGHQWGLGQ
WHYHQ
WXUQLWLQ"3RLQWVWKHPVHOYHVDUHQRWZKDWVWXGHQWVFDUHDERXW3RLQWVRQO\SURYLGHVWXGHQWVZLWKDQLPDJLQHGVRXUFHRI
PRWLYDWLRQZKLFKPDQ\WLPHVSURYHVLQHIIHFWLYH %ULOOHVO\SHUHWDO3LQN :HFDQQRWFXOWLYDWHVWURQJ
LQWULQVLFPRWLYDWLRQLQVWXGHQWVE\RIIHULQJWKHPPRUHSRLQWV +XKQ ,QVWHDGZHPXVWPDNHWKHZRUNWKH\GRLQ
FODVVFKDOOHQJLQJDFKLHYDEOHDQGDERYHDOOPHDQLQJIXO

3RLQWV$VFULEH9DOXH
$V:HLPHU  LQGLFDWHVSRLQWVGHWUDFWIURPFROOHFWLYHOHDUQLQJLQRXUVFKRROFXOWXUHV3RLQWVLPSO\YDOXH\HWWKH
SRLQWYDOXHVRIDVVLJQPHQWVDUHRIWHQPLVOHDGLQJ7KHDPRXQWRIZRUNUHTXLUHGIRUDQDVVLJQPHQWRULWVLPSRUWDQFH
PD\QRWFRUUHVSRQGWRLWVDOORWWHGSRLQWV:KHQORRNLQJDWWKHLUDVVLJQPHQWVVWXGHQWVPD\FDOFXODWHWKHSRLQWVWKH\
QHHGDQGGHHPLWXQQHFHVVDU\WRGRDQDVVLJQPHQWWKDWDSSHDUVKDUGRSWLQJLQVWHDGIRUDQHDVLHUEXWOHVVHVVHQWLDO
WDVNZLWKDVLPLODUSRLQWYDOXH$VWHDFKHUVZHPXVWFUDIWRXUDVVLJQPHQWVDQGVFRUHWKHPLQDZD\WKDWPDNHVWKHLU
LQKHUHQWPHDQLQJDQGLPPHGLDWHYDOXHUHDGLO\DSSDUHQWWRVWXGHQWV

6ROXWLRQ7KH1R3RLQWV*UDGLQJ6\VWHP
,QWKHVXPPHUIROORZLQJP\VWXGHQW
VTXHVWLRQDERXWSRLQWV,HPEDUNHGRQDFRPSOHWHFRXUVHUHGHVLJQWKDW
HQFRPSDVVHGWKHFRXUVHREMHFWLYHVWKHXQLWDVVHVVPHQWVWKHFODVVDFWLYLWLHVDQGWKHZD\WKH\DOOZHUHJUDGHG,
EHJDQZLWKP\UHJXODUWKJUDGH%ULWLVKOLWHUDWXUHFRXUVHWKDWIDOOEDVLQJP\UHGHVLJQRQWZRSLOODUVWKH
8QGHUVWDQGLQJE\'HVLJQIUDPHZRUNRI:LJJLQVDQG0F7LJKH  DQGWKHWHQHWVRIPDVWHU\OHDUQLQJRULJLQDOO\
FRQFHLYHGRIE\%HQMDPLQ%ORRP  DQGPRUHUHFHQWO\H[SRXQGHGXSRQE\VHYHUDORWKHUV *XVNH\
/DOOH\ *HQWLOH 
0\ILUVWREMHFWLYHZDVWRFUHDWHDVWDQGDUGRIPHDVXUHPHQWWKDWGLGQRWLQYROYHDSRLQWYDOXH,XVHGWKHIRXUWLHUHG
UXEULFIRURXUVWDWH
VVWDQGDUGL]HGZULWWHQH[DPWKH$UL]RQD,QVWUXPHQWWR0HDVXUH6WDQGDUGV $,06 ([FHHGV0HHWV
$SSURDFKHVRU)DOOV)DU%HORZ,QDGGLWLRQWKH7UDLWVRI:ULWLQJ &XOKDP SURYLGHGDIUDPHZRUNIRUPHWR
DVVHVVP\VWXGHQWV
ZRUNTXDOLWDWLYHO\
)ROORZLQJWKH$,06UXEULF,GHFLGHGWRRQO\JLYHVFRUHVRI( ([FHHGV 0 0HHWV $ $SSURDFKHV RU% )DU%HORZ IRU
ZULWWHQZRUN ,URQLFDOO\$VDQG%VZHUHWKHWZRORZHVWSRVVLEOHVFRUHV 7KHSDVVLQJOLQHZDVEHWZHHQ0HHWVDQG
$SSURDFKHVZKLFKEHFDPHDQHVVHQWLDOFXWRIIOLQHWRP\JUDGLQJV\VWHPDVLWFOHDUO\GLVWLQJXLVKHGIRUVWXGHQWVWKH
FDOLEHURIZRUNWKDWZDVDFFHSWDEOHIURPWKDWZKLFKZDVQRW

(DUQLQJDQ$WKH3RLQWOHVV:D\
7RDOLJQP\FRXUVHWRP\QHZJUDGLQJV\VWHP,EURNHGRZQDOOFRXUVHZRUNLQWRIRXUFDWHJRULHV3HUIRUPDQFH
$VVHVVPHQWV:ULWWHQ$VVLJQPHQWV/LWHUDU\7HUPVDQG-RXUQDOV3HUIRUPDQFH$VVHVVPHQWVFRQWDLQHGXQLW
DVVHVVPHQWVHLWKHUGLVWULFWPDQGDWHGSHUIRUPDQFHDVVHVVPHQWVOLNHDSHUVXDVLYHHVVD\DOOVRSKRPRUHVDUHUHTXLUHG
WRZULWHRUDVVHVVPHQWVRIGHSDUWPHQWZLGHOHDUQLQJREMHFWLYHVOLNHDOLWHUDU\DQDO\VLVHVVD\EXWLWDOVRFRXOGFRQWDLQ
EHQFKPDUNVIRUP\RZQFRXUVHVSHFLILFFXUULFXOXPVXFKDVH[DPVRUWHVWVFRQVWUXFWHGDVSURMHFWVRUSHUIRUPDQFHV
:ULWWHQ$VVLJQPHQWVFRQWDLQHGDOOFRXUVHDVVLJQPHQWVIRULQVWDQFHLGHQWLI\LQJDQGGHILQLQJDWUDJLFKHURIURPDWH[W
RUZULWLQJDOHWWHUWRWKHFLW\FRXQFLORUDQDO\]LQJDSRHP/LWHUDU\7HUPVZHUHH[WHQGHGGHILQLWLRQVRIFRXUVHVSHFLILF
YRFDEXODU\ VLPLOHPHWDSKRUK\SHUEROHDQGVRRQ DQG-RXUQDOVZHUHVHOIUHIOHFWLYHZHHNO\RUELZHHNO\VWXGHQW
HQWULHVRQDJLYHQ RUVRPHWLPHVRSWLRQDO WRSLF
)RUHDFKFDWHJRU\VWXGHQWVKDGWRHDUQDVSHFLILFQXPEHURI([FHHGVDQG0HHWVWRDFKLHYHDFHUWDLQWLHUWRSPLGGOH
RUORZ VHHILJ (VVHQWLDOO\WRSWLHUZRUNPHDQWWKDWPRVWRIWKHWLPHVWXGHQWVH[FHHGHGWKHVWDQGDUGVEXWLIQRWWKH\
VWLOOPHWWKHP0LGWLHUZRUNPHDQWWKDWPRVWRIWKHWLPHVWXGHQWVPHWWKHVWDQGDUGVDQGLIQRWWKH\H[FHHGHGWKHP,Q
WKHORZWLHUVWXGHQWVPHWWKHVWDQGDUGPRVWRIWKHWLPH

),*85(&DWHJRULHVDQG7LHUVLQWKH1R3RLQWV*UDGLQJ6\VWHP
&DWHJRU\3HUIRUPDQFH2EMHFWLYHV WRWDO
7RS7LHU([FHHGV0HHWV
0LG7LHU([FHHGV0HHWV
/RZHU7LHU0HHWV

&DWHJRU\:ULWWHQ$VVLJQPHQWV WRWDO
7RS7LHU([FHHGV0HHWV
0LG7LHU([FHHGV0HHWV
/RZHU7LHU0HHWV





&DWHJRU\/LWHUDU\7HUPV WRWDO
7RS7LHU([FHHGV0HHWV
0LG7LHU([FHHGV0HHWV
/RZHU7LHU0HHWV

&DWHJRU\-RXUQDOV WRWDOFRPSOHWHGLQFODVV
7RS0LG7LHU&RPSOHWH
/RZHU7LHU&RPSOHWH

7RWUDQVODWHWKHVHIRXUFDWHJRULHVLQWRWUDGLWLRQDOOHWWHUJUDGHVVWXGHQWVKDGWRGHPRQVWUDWHDVSHFLILHGDPRXQWRI
PDVWHU\LQWKHWRSDQGPLGWLHUV
7RHDUQDILQDOOHWWHUJUDGHRI$VWXGHQWVQHHGHGWRSWLHUZRUNLQWKUHHFDWHJRULHVDQGPLGWLHUZRUNLQWKHIRXUWK
7RHDUQD%VWXGHQWVQHHGHGPLGWLHUZRUNLQWKUHHFDWHJRULHVDQGWRSWLHUZRUNLQWKHIRXUWK
)RUD&VWXGHQWVQHHGHGPLGWLHUZRUNLQWKUHHFDWHJRULHV6WXGHQWVZKRZHUHQRWPHHWLQJWKHVWDQGDUG ZLWKPLG
WLHUZRUNRUEHWWHU ZHUHLQGDQJHURIIDLOLQJ$OOVWXGHQWVKDGWRPHHWWKHVWDQGDUGVLQWKH3HUIRUPDQFH$VVHVVPHQW
FDWHJRU\WRSDVV
$VVHVVLQJVWXGHQWVLQWKLVIDVKLRQPRUHFORVHO\UHVHPEOHGSHUIRUPDQFHH[SHFWDWLRQVLQWKHUHDOZRUOG :KLWH 
DQGLWJDYHHTXDOZHLJKWWRGLIIHUHQWW\SHVRIDFWLYLWLHV6WXGHQWVZKRZHUHSRRUWHVWWDNHUVFRXOGHDUQDILQDOJUDGHRI$
RQWKHLUUHSRUWFDUGVE\GHPRQVWUDWLQJOHDUQLQJWKURXJKZULWWHQZRUNSURMHFWVDQGSUHVHQWDWLRQVRULQGHSHQGHQW
MRXUQDOLQJ
0HHWLQJWKHVWDQGDUGVRQDOOSHUIRUPDQFHDVVHVVPHQWVZDVUHTXLUHGEXWVWXGHQWVFRXOGHVVHQWLDOO\PDNHWKHLUJUDGH
DQ\WKLQJWKH\ZDQWHGLWWREHE\VHOHFWLQJZKLFKDVVLJQPHQWVWRFRPSOHWHDQGUHGRLQJWKHPXSWRWKUHHWLPHVXQWLOWKH\
ZHUHVDWLVILHG%H\RQGVWXGHQWVKDYLQJFRQWURORYHUWKHLUJUDGHVWKHLUVFRUHVZHUHDOVRFULWHULRQEDVHGWKHVFRUHV
LQGLYLGXDOVWXGHQWVHDUQHGRQVSHFLILFDVVLJQPHQWVZHUHQRWUHODWHGWRWKHVFRUHVRIWKHLUSHHUV

0DVWHU\LQ3UDFWLFH
$V/DOOH\DQG*HQWLOH  SRLQWRXWLQDWUXHPDVWHU\OHDUQLQJV\VWHPWKHPDVWHU\OHYHOVKRXOGQRWFRUUHODWHZLWKWKH
KLJKHVWVFRUHDVWXGHQWFDQDFKLHYHEXWZLWKWKHPLQLPXPSDVVLQJOHYHO,QP\V\VWHPVWXGHQWVZKRZDQWHGWRDFKLHYH
WKHKLJKHVWPDUNVKDGWRJRDERYHDQGEH\RQGWKHPLQLPXPVWDQGDUGDQGGHPRQVWUDWHKLJKHURUGHUWKLQNLQJVNLOOV
0DVWHULQJHVVHQWLDOVNLOOVZDVPDQGDWRU\IRUDOOVWXGHQWVHYHQLIWKH\QHHGHGPXOWLSOHRSSRUWXQLWLHVWRGRVR *HQWLOH
6WHYHQV+DVOLQJHU/DOOH\ *HQWLOH 
6RPHHGXFDWRUVZRUU\WKDWZKHQVWXGHQWVRIGLIIHULQJDELOLWLHVDUHJLYHQWKHVDPHDPRXQWRIWLPHWRFRPSOHWHWKHVDPH
REMHFWLYHVVWXGHQWVZKRILQLVKHDUO\ZLOOHQGXSZDVWLQJWLPH 0XHOOHU 3URSRQHQWVRIPDVWHU\OHDUQLQJDGPLW
WKDWWKLVFRXOGKDSSHQEXWWKH\VXJJHVWRIIHULQJDGGLWLRQDOHQULFKPHQWREMHFWLYHVIRUVWXGHQWVZKRPDVWHUFRXUVH
FRQFHSWVDQGVNLOOVPRUHTXLFNO\ /DOOH\ *HQWLOH WKXVJLYLQJWKHPPRUHRSSRUWXQLWLHVWRH[FHHGVWDQGDUGV,Q
P\FODVVURRP,QHYHUKDGPXFKRIDSUREOHPZLWKZDVWHGWLPHZKHQXVLQJWKHQRSRLQWVV\VWHP0\VWXGHQWVZHUH
FRQWLQXDOO\EXV\DWWHPSWLQJWRPDVWHUDVNLOOPHHWDSHUIRUPDQFHREMHFWLYHRUH[FHHGVWDQGDUGVRQDQDVVLJQPHQWWR
LQFUHDVHWKHLURYHUDOOJUDGH7KLVZRUNZDVODUJHO\LQGHSHQGHQWDQGVHOIGLUHFWHG
0\ZHHNO\URXWLQHVXVXDOO\EHJDQZLWKWHDFKLQJRUUHWHDFKLQJFRQWHQWUHODWHGWRREMHFWLYHVVWXGHQWVZHUHVWLOO
DWWHPSWLQJWRPDVWHULQWURGXFLQJQHZFRQFHSWVPRGHOLQJDQGSURYLGLQJWLPHIRUERWKJXLGHGDQGFROODERUDWLYH
SUDFWLFH%\WKHHQGRIWKHZHHNDOOVWXGHQWVKDGDWOHDVWRQHDVVLJQPHQW XVXDOO\PRUH WRZRUNRQLQFODVV'XULQJWKLV
WLPH,PRQLWRUHGDQGFKHFNHGVWXGHQWV
ZRUNRUPHWZLWKVWXGHQWVRQHRQRQHDERXWWKHLUDVVLJQPHQWVWRGLVFXVVZK\
WKH\UHFHLYHGWKHVFRUHVWKH\GLGDQGZKDWWKH\FRXOGGRWRLPSURYH7KHVHFRQIHUHQFHVZHUHVROHO\VWXGHQWGULYHQ,W
ZDVXSWRWKHVWXGHQWWRVFKHGXOHWKHFRQIHUHQFHDQGWRGLUHFWDQGJXLGHLW

&KDOOHQJHV$ORQJWKH:D\
7KHUHVXOWVWKDW,VDZLQP\IRXU\HDUVXVLQJWKLVV\VWHPZHUHFRPSHOOLQJHQRXJKIRUPHWRSURPRWHLWWRP\FROOHDJXHV
%XWZKDWGLGVWXGHQWVDQGDGPLQLVWUDWRUVWKLQN"

6WXGHQW5HDFWLRQV
,QLWLDOO\WKHUHZDVDEDFNODVKDPRQJVWXGHQWVDJDLQVWWKLVJUDGLQJV\VWHP7KH\ZHUHQRWXVHGWRWKLVVW\OHRIJUDGLQJ
DQGLWZDVDQLF\VKRFNWRWKHLUV\VWHPV,WVHHPHGWRGHYLDWHIURPHYHU\WKLQJWKH\KDGHYHUNQRZQDERXWVFKRRO$WILUVW




PDQ\VWXGHQWVREMHFWHGDQGUHIXVHGWRWU\DQGWKHLUVFRUHVDQGTXDUWHUJUDGHVZHUHORZ
7KHVWXGHQWVZKRVHHPHGWRVWUXJJOHWKHPRVWZLWKWKHV\VWHPZHUHWKHKLJKO\VNLOOHGVWXGHQWVZKRKDGUHFHLYHG$V
WKHLUHQWLUHOLYHVXVXDOO\ZLWKRXWH[HUWLQJPXFKHIIRUW7KHVHVWXGHQWVZKRKDGPDVWHUHGWKHJDPHRIVFKRRO )ULHG
 VXGGHQO\IRXQGWKHPVHOYHVEHLQJDVNHGWRLPSURYHRQWKHLURZQSHUIRUPDQFHZLWKRXWFRPSDULVRQWRWKH
VWXGHQWVDURXQGWKHP
6ORZO\EXWVXUHO\DVWKH\ZRUNHGWKURXJKWKHSURFHVVRIFRUUHFWLRQVDQGUHYLVLRQWKDW*XVNH\  KLJKOLJKWVERWK
WKHVNLOOHGDQGWKHVWULYLQJVWXGHQWVEHJDQWRUHDOL]HWKDWWKH\FRXOGVXFFHHGLQWKLVJUDGLQJV\VWHPWKH\MXVWKDGWR
NHHSWU\LQJ$VWKDWUHDOL]DWLRQVHWWOHGLQVWXGHQWDIWHUVWXGHQWGXJLQWRDVVLJQPHQWVZLWKUHQHZHGIHUYRU,VDZVWXGHQWV
FROODERUDWH,VDZWKHPUHYLVH,VDZWKHPUHOHDUQ,VDZWKHPLPSURYH,VDZWKHPH[FHOWROHYHOV,KDGQHYHUVHHQ
EHIRUH$FURVVWKHERDUGUHJDUGOHVVRIVNLOOOHYHOWKHTXDOLW\RIVWXGHQWV
ZRUNURVHH[SRQHQWLDOO\
,WZDVZRUWKWKHLQLWLDOFRPSODLQLQJDQGIRRWGUDJJLQJZKHQLQVXEVHTXHQW\HDUVUHFHQWJUDGXDWHVZRXOGUHWXUQWRYLVLW
DQGVD\WKLQJVOLNH0U3HUFHOOFRPSDUHGWR\RXUFODVVFROOHJHLVHDV\ ,GRQ
WQHFHVVDULO\DJUHHZLWKWKDWEXWLWZDV
DUHZDUGLQJYLQGLFDWLRQ

$GPLQLVWUDWLYH5HDFWLRQV
,KDGWUHPHQGRXVDGPLQLVWUDWLYHVXSSRUWZKHQ,LPSOHPHQWHGWKLVJUDGLQJV\VWHP7KHYDOXHRIWKLVVXSSRUWFDQQRWEH
XQGHUVWDWHGLWZDVNH\WRWKHVXFFHVVRIWKLVV\VWHP0\DGPLQLVWUDWLRQDWWKHWLPHZDVLQWHUHVWHGLQPDVWHU\OHDUQLQJ
DQGWKH\KHOSHGPHUHFRJQL]HWKHVWURQJWLHVEHWZHHQQRSRLQWVJUDGLQJDQGPDVWHU\OHDUQLQJ
6WLOOWKHWUDQVLWLRQZDVGLIILFXOWIRUP\DGPLQLVWUDWLRQHVSHFLDOO\HDUO\LQWKHVHPHVWHUZKHQVWXGHQWVDQGSDUHQWVZHUH
REMHFWLQJDQGJUDGHVDFURVVWKHERDUGZHUHORZ,WLVGLIILFXOWIRUDGPLQLVWUDWRUVWROLVWHQWRDWHDFKHUWHOOWKHP,NQRZ
WKHVFRUHVORRNEDGQRZEXWLQWKHHQGLWZLOODOOZRUNRXW7UXVWPH
$QG\HWWKH\GLG7KDWVRUWRIUHODWLRQVKLSRIWUXVWDQGUHVSHFWGRHVQRWDOZD\VFRPHHDV\EXWLWFDQEHFXOWLYDWHG
WKURXJKPXWXDOO\VXVWDLQHGHIIRUWDQGRSHQFRPPXQLFDWLRQ0\DGPLQLVWUDWLRQFRQWLQXHGWRVXSSRUWPHLQWKLVJUDGLQJ
V\VWHPDQG,DPJUDWHIXOIRUWKHLUSDWLHQFHDQGIDLWKLQPH

(OLPLQDWLQJ3RLQWV(QJHQGHULQJ0DVWHU\
$IWHUWKDWILUVWVHPHVWHUGHVSLWHWKHFKDOOHQJHV,GHHPHGWKH1R3RLQWV*UDGLQJ6\VWHPVRVXFFHVVIXOWKDW,
LPSOHPHQWHGLWLQDOOP\FODVVHVIRUWKHVXEVHTXHQWWKUHH\HDUV:LWKWKLVV\VWHPLQSODFHP\HGXFDWLRQSUDFWLFHV
DOLJQHGKDUPRQLRXVO\ZLWKP\HGXFDWLRQEHOLHIVPDNLQJWKLVWKHPRVWUHZDUGLQJWLPHRIP\HQWLUHFODVVURRPFDUHHU
,KDGFHUWDLQO\FRPHDORQJZD\IURPWKDWVSULQJGD\ZKHQP\VWXGHQWDVNHGPHKRZPDQ\SRLQWVRXUDVVLJQPHQWZDV
ZRUWK,QVWHDGRIKDYLQJVWXGHQWVDVNZKHWKHUWKH\QHHGHGWRNQRZVRPHWKLQJIRUWKHWHVWRUZKHQWKH\ZLOOXVH
VRPHWKLQJLQUHDOOLIH,IRXQGP\VHOIVLWWLQJDWDGHVNDWWKHIURQWRIWKHURRPWDONLQJZLWKDVWXGHQWDERXWKHUPRVW
UHFHQWHVVD\,OLVWHQHGWRKHUH[SODLQZK\VKHKDGLQFOXGHGDFHUWDLQSKUDVHDVVKHVRXJKWP\FRXQVHORQKRZWR
PDNHLWHYHQVWURQJHU,DOORZHGP\VHOIDPRPHQWWRSDXVHDQGFDVXDOO\DVVHVVWKHDFWLYLW\OHYHORIWKHUHVWRIWKHFODVV
IURPP\FKDLU7KHUHZDVDWDQJLEOHEX]]LQWKHURRPVWXGHQWVZHUHDWWKHLUGHVNVGXWLIXOO\HQJDJHGLQWKHLU
LQGHSHQGHQWO\SDFHGDVVLJQPHQWV6DWLVILHG,UHHQJDJHGZLWKWKHFRQIHUHQFHDWKDQG:KHQWKHEHOOUDQJDQG
VWXGHQWVEHJDQILOLQJRXW,RYHUKHDUGRQHVWXGHQWPXPEOHWRKLVIULHQG,KDWHWKLVFODVV$OOZHHYHUGRLVOHDUQ

5HIHUHQFHV
%ORRP%6  /HDUQLQJIRUPDVWHU\(YDOXDWLRQ&RPPHQW  
%ULOOHVO\SHU0*KULVW0+ROFRPE76FKDXEURHFN%:DUQHU% :LOOLDPV6  :KDW
VWKHSRLQW"7KH
EHQHILWVRIJUDGLQJZLWKRXWSRLQWV35,086  
&XOKDP5  WUDLWVRIZULWLQJ7KHFRPSOHWHJXLGH1HZ<RUN6FKRODVWLF
(GZDUGV&+ (GZDUGV/  /HW
VHQGWKHJUDGLQJJDPH7KH&OHDULQJ+RXVH  
)ULHG5/  7KHJDPHRIVFKRRO:K\ZHDOOSOD\LWKRZLWKXUWVNLGVDQGZKDWLWZLOOWDNHWRFKDQJHLW6DQ
)UDQFLVFR-RVVH\%DVV
*HQWLOH-5 6WHYHQV+DVOLQJHU&  $FRPSUHKHQVLYHJUDGLQJVFKHPH1XUVLQJ2XWORRN  
*XVNH\75  &ORVLQJDFKLHYHPHQWJDSV5HYLVLWLQJ%HQMDPLQ6%ORRP
V/HDUQLQJIRU0DVWHU\-RXUQDORI
$GYDQFHG$FDGHPLFV  
*XVNH\75  /HVVRQVRIPDVWHU\OHDUQLQJ(GXFDWLRQDO/HDGHUVKLS  
+XKQ&  +RZPDQ\SRLQWVLVWKLVZRUWK"(GXFDWLRQDO/HDGHUVKLS  
/DOOH\-3 *HQWLOH-5  &ODVVURRPDVVHVVPHQWDQGJUDGLQJWRDVVXUHPDVWHU\7KHRU\LQWR3UDFWLFH  

0XHOOHU'-  0DVWHU\OHDUQLQJ3DUWO\ERRQSDUWO\ERRQGRJJOH7HDFKHUV&ROOHJH5HFRUG  
3LQN'  7KHVXUSULVLQJVFLHQFHRIPRWLYDWLRQ7('7DONV5HWULHYHGIURP
ZZZWHGFRPWDONVODQJHQJGDQBSLQNBRQBPRWLYDWLRQKWPO




:HLPHU0 2FWREHU *UDGLQJSUDFWLFHV/LDELOLWLHVRIWKHSRLQWVV\VWHP>EORJSRVW@5HWULHYHGIURP)DFXOW\


)RFXV7KH7HDFKLQJ3URIHVVRU%ORJDWZZZIDFXOW\IRFXVFRPDUWLFOHVWHDFKLQJSURIHVVRUEORJJUDGLQJSUDFWLFHV
OLDELOLWLHVRIWKHSRLQWVV\VWHP
:KLWH.  ,VKRXOGQ
WEHWHOOLQJ\RXWKLV6XFFHVVVHFUHWVHYHU\JXWV\JLUOVKRXOGNQRZ1HZ<RUN+DUSHU&ROOLQV
:LJJLQV*3 0F7LJKH-$  8QGHUVWDQGLQJE\GHVLJQ$OH[DQGULD9$$6&'
-D\&3HUFHOOLVDQLQVWUXFWLRQDODVVLVWDQWSURIHVVRULQWKH6FKRRORI7HDFKLQJDQG/HDUQLQJDW,OOLQRLV6WDWH8QLYHUVLW\LQ1RUPDO
,OOLQRLV

.(<:25'6
&OLFNRQNH\ZRUGVWRVHHVLPLODUSURGXFWV
DVVHVVPHQWVWXGHQWDVVHVVPHQWDOWHUQDWLYHDVVHVVPHQWUHSRUWFDUGVVWDQGDUGV
&RS\ULJKWE\$6&'

5HTXHVWLQJ3HUPLVVLRQ
)RUSKRWRFRS\HOHFWURQLFDQGRQOLQHDFFHVVDQGUHSXEOLFDWLRQUHTXHVWVJRWRWKH&RS\ULJKW&OHDUDQFH&HQWHU
(QWHUWKHSHULRGLFDOWLWOHZLWKLQWKH*HW3HUPLVVLRQVHDUFKILHOG
7RWUDQVODWHWKLVDUWLFOHFRQWDFWSHUPLVVLRQV#DVFGRUJ



You might also like