Same procedure every year – the year-end review as part of the performance management appears on your calendar. Are you worried about filling in forms? Do you feel like this is not adding value?

In this episode, we give you practical tips on how to master the review like a pro. 

We refer to Michael Hyatt’s goal-setting formula SMARTER as well as to the STAR formula for summing up your achievements: Situation – Task – Action – Result.

Transcript

How to prepare for your year-end review to stand out!

00:00
You are listening to the Effective Statistician episode number 36, how to prepare for your year end review to stand out. Welcome to the Effective Statistician with Alexander Schacht and Benjamin Piske, the weekly podcast for statisticians in the health sector designed to improve.

00:20
Improve your leadership skills, widen your business acumen and enhance your efficiency. We are creating an online course and we are talking about this for some episodes now. Register your interest for this course on our homepage the effe slash course. In today’s episode we will chat about performance management and especially the end year review.

00:47
how it looks like from both sides because both Benjamin and myself are supervisors. We share a lot of practical tips to be successful and especially also Hulses helps you in the long term. This podcast is created in association with PSI, a global member organization dedicated to leading and promoting best practice and industry initiatives. Join PSI today to further develop your statistical capabilities.

01:16
with access to special interest groups, the video on demand content library, free registration to all PSI webinars and much much more. Visit the PSI website at psieweb.org to learn more about PSI activities and become a PSI member today.

01:39
Hi, this is another episode of the Effective Statistician. Today it’s just Benjamin and myself. Hi, Benjamin, how are you doing? Hello, Alexander. Well, yeah, good. It’s end of the year, almost. Almost end of the year. And what happens every year end? See here and review. Well, year end review every year.

02:08
Did you have your year-end review already? No, you don’t. I’m asking the question because we already had our year-end review. Because our year-end review is at the end of the fiscal year, which is at our company end of June. So we already had our year-end review even though it’s at the end of the year. No, I didn’t have it yet.

02:33
You are after the year end review and I’m in front of my year end review. And so very good. Do you actually know where it comes from? These performance reviews? No, not in detail. So actually the first organization that did year end reviews or annual reviews were the armies. And…

03:01
What’s really interesting about it is it was initially done without the people concerned. So it was just for the supervisors. So the supervisors talked about their staff basically and reviewed their performance over the year. Yep. And it’s really just from a kind of turnover perspective, which is, you know, in military in war times, probably kind of…

03:30
pretty frequent, unfortunately. So you need to have very good succession planning and very good performance reviews so that when it comes to, okay, we need to replace a person who is a successor. So that’s where it’s actually come from. And only at some point, they’re

04:00
actually incorporated it into their life and evaluate that and then link all kinds of other things with it. And of course, created all kinds of different forms for it. But I think it might even still be happening that there’s a performance review without the staff involved, just on a manager level or supervisor level. However, this is not what we are talking about today. No, no.

04:31
Hopefully you have a year-end review with your supervisor and if you don’t ask for it and If you have some HR forms that you need to fill out, okay fill them out But today we are really not talking about the forms Oh my god, if I remember my starting time in pharma It was all about kind of filling out the forms and you know

04:58
Words missing every kind of sentence in it and took forever to kind of fill it in That was horrible and it was yeah But this is I think we do have we have to complete a form as well, but this is really just about You know That’s not the key Of the year-end review and it shouldn’t be the key for anyone I think that the documentation of the end review is one important thing to do

05:26
for yourself, but also for your supervisor. But this shouldn’t be the key part of the year and review, obviously. Yeah, I think for the year and review, for me personally, I think it’s also a very, very good time to reflect on my personal year. So it’s not just kind of the job goals, but also my personal goals.

05:56
they incorporate my job goals, but it’s kind of all gets together. And so, therefore, of course, you need to have pretty good goals at the beginning. Otherwise, it’s pretty bad to measure yourself against them. Yeah, that’s true. But I think setting the goals is one of the aspects for the year-end review, but we’ll capture this in one of the following episodes. Yep.

06:24
This is coming up, well, actually next year. So after… Talking about the year end review itself. I mean, it’s called year end review and obviously the year end is only once a year. But how often do you then just reflect this with your supervisor in general? Because I think the year end review can be really different from

06:53
individual to individual from company to company from supervisor to supervisor, because, you know, for example, I’m, I’m talking quite frequently to my supervisor, and we are sharing information, we are sharing, giving feedback, you know, following up on certain topics all over the time, you know, all over the year. So the year end review is more the formalization of what we basically there shouldn’t be any surprises, they have any surprises. Yeah.

07:21
Yeah. So if there are any surprises, then something went really terrible wrong. And usually it’s actually the fault of the supervisor. So as a supervisor, you should never have any surprises in your year-end review with your direct reports. Well, yeah, that’s true, but it’s not always the fault of the supervisor. No, no. If there are surprises.

07:47
then it’s a fault of the source. And he hasn’t communicated that in time. So, maybe there’s some differential interpretation of certain events, but there shouldn’t be any new things coming up in the year-end reviews that happened in August that you never talked about.

08:14
both from the bad as well as from the good side. If you don’t talk kind of regularly to your supervisor, then maybe that’s a good go for next year to start doing that. Actually I have at least two times a year, through the year I have kind of formal reviews with my team.

08:43
and also with my supervisor. Yeah, we do have even four times a year quarterly review meetings with the individuals. So that is helping a lot. But even three months also can be a long time. So I’m trying to really talk about anything that comes up as soon as it comes up and not wait for the next quarterly review. Yes, yes, yes, yes, yes.

09:13
Feedback needs to be timely. Absolutely. Okay, but going back to the year-end review. Okay, let’s go back to the year-end review. I think it’s really good if at the beginning of the year you have set yourself good goals. And good goals, I mean in terms of goals that you can actually be measured upon. So they need to be specific, measurable, actionable.

09:42
They also should be kind of risky in terms of they need to be a challenge for yourself. Of course, they need to be kind of time-keyed. What I think is also, these are all the kind of smart things, but there’s some nice additions from Michael Hyatt in terms of that they also should be exciting and relevant within the overall context of your life.

10:11
And we’ll put that into the show notes. And that’s also something very, very helpful to think about for your goals for next year, both for your personal as well as your job goals. But if you have these kind of measurable and you kind of have tracked them throughout the year, of course, that is the most easy starting point for that. But in reality, mostly that doesn’t look like that.

10:40
So it should not only be smart, it should even be smarter. Yes, it should be smarter. Exciting and relevant. No, I agree. This is something where the goals or the goal setting and also then the year end review is usually struggling with in measuring performance for yourself, but also from your supervisor.

11:10
type of topics that you’re talking about might not fit into this smart scheme where, for example, it’s measurable. In terms of what I mostly struggle with is measurable. Because I think we as statisticians think about measurable in terms of it is something that is measurable.

11:39
measurable in terms of, say, scale or quantity or something like this. But I think it’s also qualitative things can be measurable. So, did you have good feedback? Yeah. Did you did something that is better than what usually has been done? Of course, it’s great if you can have kind of

12:07
We saved the company two months or something like this, or we reduced the cost for the study by 50% or these kinds of things. These are, of course, great measures, but most of our activities are not that easily measurable like in, let’s say, sales. Yeah. And also, your example already is kind of what does it mean to be a salesman?

12:33
be better than anyone else or somebody else or do it better than somebody else because you usually don’t do the same. You do something, you repeat, so for example a process and giving the environment of the working time it’s difficult to measure whether this is better or not to somebody else. So that’s it might be possible, I agree, but that’s the tricky part about measuring that it’s not you know it’s not black and white.

13:02
It’s really like a usually process or some development is to be done. And this was done before and you can compare it. But I mean, we are statistician, we know that we can’t necessarily compare A and B. And that’s the tricky thing about measuring success or measuring performance. You know what?

13:29
Other word comes to my mind when I think about measurable, it’s impact. You can have lots of specific measurable actionable goals that don’t actually mean anything. You have a goal that you turn in your expenses on time. Well.

13:57
That’s great measurable. You can just measure the time from whether you have completed your expense report forms always two weeks after the event or something like this. You can easily measure that. But does it has an impact? So I think if you have something that is impactful, then usually there is some measurable.

14:27
And sometimes that might be just qualitative in terms of, you get really, really good senior management feedback about it. So that is some qualitative measure. Yeah. So I think it’s also what I think is important then for the year end review is to, I mean, not to concentrate it all over the year. But still do.

14:56
during your job that you do over the year, keep it in mind that at the end of the year or in between, you need to kind of bring this to the table. What did you do? So what is your success? What is your measurable or as you said, what is the impact of the work that you did? And I think there are quite a few tips or quite a few helpful things that you can think of during the year.

15:26
in order to prepare for the year end review easily. Yeah. So preparation is, I think, here’s the absolute keyword. So this episode is all about how you to prepare. And of course, optimally preparation starts with the beginning of the year for the end of the year review. But let’s say you haven’t been that consistent in keeping everything.

15:55
So how do you approach your year-end review? Where do you start with? You review the goals. OK, very good. And then? Well, you just go through what you did over the last year, trying to summarize or trying to find evidence for the success.

16:23
of the impact or the relevance of the topics or of the work that you did. I mean, just as an example, I mean, what you mentioned before, positive feedback. If somebody is, let it be the client or different, you know, from different departments, your colleagues, from your team,

16:49
Or even if you as a supervisor, if it’s about your own stuff, if your own stuff is giving positive feedback about you as a supervisor, which is part of your responsibility to be a supervisor, collect it. Keep it. Bring it up. This is something where you can easily bring this to the table and say, this is where I’ve been successful, has been recognized, it had an impact, and here it is.

17:17
Actually, that’s a pretty good thing to have anyway. Some kind of folder where you store all your recognition. That also helps if you’re really kind of having a bad time. You can look into this and kind of see, maybe I’m not that bad as a statistician if I get these recognitions. And of course, sometimes projects go south and then that’s good for your ego.

17:43
Yeah, that’s a very, very good kind of thing to go into. What I also, you know, go back to is I look into my calendar over the year and look kind of what were the events and things like this. And that kind of helps me to kind of travel back in time. So where have I been at the beginning of the year? You know, what was…

18:11
Alexander at the beginning of the year. How did he thought about the year? What kind of problems did he have? And where have you been? And then I compare that with myself being now. What have I learned? Yeah. How have I developed myself? Where were the areas where I went out of my comfort zone, where I stretched myself?

18:41
usually very good indicators of areas of success, areas of, or maybe also failure, but usually these are areas of importance. So these things where it went completely smoothly, there was kind of no emotional things involved, usually that’s not the key things for the year in front of you.

19:09
Yeah, and I think it is also the calendars and an excellent idea because it also gives you the kind of a summary of what you have achieved, not only like successfully, but just also just giving back, you know, what is the last on your studies, on your projects. So what has happened? What were the key deliveries? What were the key meetings?

19:35
discussions, publications whatsoever. So this has really given you also traveling back in time in terms of your actual work that was done that you would like to discuss. Yeah, and I think for me the calendar is especially important because I have more than just meetings in there. I also have kind of appointments with just myself in there. So things where I knew I

20:05
done, then I have that in my calendar so that the time is blocked and I don’t get other meetings in there. My calendar is usually pretty full and completely booked with either meetings with other people or meetings with myself. That’s why for me personally, the calendar is super important. Others I know also use quite a lot email. They go through their email trails and see kind of…

20:35
What was your hot topics? What was the achievements, the different discussions? It’s less useful for me because just the amount of email is too big. Yeah, I mean, this will only make sense if you collect them during the year automatically, more or less. If you have something important that you receive, be it an achievement, a thanks, a thankful email, or.

21:02
like positive feedback or is it, you know, thank you for delivering the final analysis. So kind of the key emails, so where you can trace the important points that you don’t have to search for in the calendar anymore. So that’s, I agree. I mean, the amount of emails is, it’s massive. So doing this retrospectively over a year, it’s basically impossible or you need full data to spend on.

21:31
Yeah, but actually, how much time do you need to spend? Do you need to prepare for your end of year performance reviews? It is not a full day. Simply because what I said, we have quarterly reviews, so it is not that I have to go back in time for a year and it’s rather that we do a shorter period that is the most important one.

22:01
I take notes from previous meetings with me as a supervisor and also for myself. So it is quite frequent that we meet and have a follow-up. So I think I usually, we have the preparation in writing. So we put in, we have the goals in a system, we put in our achievements, our commands, our judgments, personal judgments to it and submit it to the supervisor.

22:31
So this takes me usually half a day, three hours maybe to prepare for this one, I would say. It depends also on what is in there and what the year was about. Yeah. So I would say about half a day, three hours, that would be the same for me. To travel back in time to get everything together.

23:00
to sort everything. What I really do is I once had stored weekly achievement reviews. I know I should be better in it, but I’m not that super good at it. If you, of course, have 40 weekly achievement reviews, then that’s a great kind of place to start from.

23:29
Or you have those already kind of summed up in quarterly reviews. That’s perfect. Yes. And you can basically work from there.

23:44
But it’s really kind of for me, you know, the first step is collating everything together. It’s really kind of, you know, brainstorming, research, putting all the materials together. And then what I do is because my end goal would be to have kind of three to five key hits for the PM, maybe also some misses included in there.

24:14
I try to just group them together according to themes. That depends very often on what you work on. Of course, if you work on just, let’s say, one or two studies, really big studies, maybe you have different themes within these studies or something like this, or different deliverables that you have.

24:43
these could be themes, but it could also be kind of methodological themes. It could be kind of development themes, you know, that you wanted to go into certain kind of areas, how to develop yourself kind of methodologically, how to develop yourself as a leader, how you kind of developed yourself in terms of business acumen. It could be also themes. So, but it’s great to have these kind of

25:13
overarching themes and then group everything of what you have in these kinds of areas. And then I try to sum up these themes into one sentence. But isn’t it that this is usually in line with what your goals are? So kind of…

25:39
I mean, if you agreed on goals for the year and you start kind of grouping the topics in a different way, but it shouldn’t be in line just for easier understanding and discussion. Shouldn’t it be in line with the actual goals? Yeah, somehow. But I’m…

26:08
sometimes a little bit flexible here. So, kind of, the goals are sometimes, in my area, I’m working a lot in medical affairs, there’s lots of kind of changes throughout the years, there’s lots of new opportunities coming up. So, my goals are maybe not as specific as they are maybe in other areas. So, and they kind of keep changing over the year.

26:38
I guess that might be similar in other areas, for example, if you work in early clinical research or in preclinical or things like that, where there’s a constant flow of new projects and at the beginning of the year, you don’t even know what you will work on in August. So then, of course, you need to set goals that are…

27:08
flexible enough. Flexible enough. Or that you adjust over the year. That’s why I think not completely sticking to exactly the goals is helpful. Of course. Yeah, I agree that if there’s a reason for not sticking to the goals, then you should avoid sticking to the goals because it wouldn’t make any sense.

27:37
However, I think what I’m more aiming for is that if you group it according to what happened rather than according to what should happen, even if there’s an overlap, it’s probably easier to keep it in the way that the goals are sorted. There’s also the thought behind it that not every year necessarily, but especially if it’s about promotions or any…

28:04
you know, big change or where you have been extremely successful, that your sub supervisor will need to sell your achievements to their supervisors in order to justify any decision or any progress, any promotion whatsoever. So this is and there might be different from supervisors to supervisors or super supervisor to super supervisor. Again, but the point

28:34
the notes in the system and read what is in there. And given the fact that, you know, then the explanations to it differ from the goals might be confusing if they are not as much involved in your day to day business as your supervisor is.

28:55
similar wording like in your overall goal so that you can see the connection between what you have actually done the year and what you plan to do the year. Yeah, of course, if they’re completely separate, that would be odd. Yeah, I mean, I’m planning to be successful in study A and then B at the end you started to do your time, you know, you’re expensive in time.

29:23
That’s, you know, it’s really, it’s not necessarily in line. No, but I think what is an important point since I mentioned it now with the super supervisor is that whatever you put in the system, always remember that this can be read by anyone in the hierarchy above you usually. Yeah. So meaning that…

29:52
if you spend five minutes in completing your year end review and the next year you’re trying to go for promotion, people will scroll back in your history and see how you performed last year or the last years. They will see that last year you just said, oh yeah, I was good in this and yeah, I was successful here and I completed the project. The time that you spend in doing the year end review is extremely important.

30:21
not necessarily for the time being, for the year, for the year end itself, but for your career or for your progress within the company. So talking about spending three, four hours with half a day, whatever, take as much time as you need and always consider that this is not just the kind of a rev you around with your supervisor. It’s in most companies, I believe, key to your…

30:49
progress in your career within the company. Yeah, and you know, for me, I think it’s also key for further promotions. You know, if you have a good documentation of what you have achieved through those last, let’s say three to five years, that basically is the materials that you use to argue about your promotion.

31:18
You know, you take, you say, okay, five years ago, I did this, three years ago, I did this, two years ago, I did this. And you can see, okay, consistently, I have progressing myself and I’m playing on a different kind of level. And I’m contributing much more than five years ago. And that is based on your…

31:47
performance management reviews. And if you have that material together, that is the easiest material that you can have to build your case for your promotion. And also, it helps your supervisor to defend your promotion. It helps your supervisor defend any kind of salary increases or bonuses or whatsoever.

32:17
You know, because let’s be realistic. You know, when it comes to money, people look into exactly these kind of things.

32:29
No, absolutely. And actually, we had an episode on how to sell your achievements. When was it? It was in September, I think. 22nd of September. 22nd of September. And this might be very helpful as well to prepare not only to put it in writing and get the topics of it, but also then to sell it to your supervisor.

33:00
Yeah, so I know there’s very, very different kind of forms out there. You know, sometimes you write very, very long paragraphs into your performance reviews. Sometimes you maybe just can put it into abstract style. But what is really, really helpful is if you have something like three key bullet points for your supervisor. So that he can use kind of as an elevator pitch.

33:29
when it comes to defending your performance. Because especially in larger organizations, there will be kind of… There’s not an endless pot of money that is distributed, but finite pot of money.

33:52
And so there’s always kind of discussions between the supervisors, okay, which one gets more. And if you equip your supervisor with good bullet points, that basically helps for your money, for your salary increases. And just kind of a couple of the five different things to think about, you know, what was the impact?

34:22
that you achieved. What was any hurdles that you overcome? What was different from just usual work? What was your unique contribution to this? And what are the wins for the company? And wins for the company is basically wins for your supervisors and higher up supervisors. If it’s a win for them…

34:51
then it goes into their performance management as well. And that’s where you can help your supervisors to shine. And if your supervisor shines, then you can shine as well. So

35:11
Maybe someone… Make your supervisor shine. That’s reality. Let’s face it. Yeah. So it’s… We’re not in kindergarten here. It’s kind of, you know, it’s… If you can make your supervisor shine and this supervisor can make his supervisor shine, that’s, you know, these are the things that go up the ladder. Yeah. So just…

35:39
Just re-emphasize, I’m a supervisor, you’re a supervisor, so please everyone let your supervisors shine. No, but seriously, it’s a good point. It’s really about the success is not, you can’t have in a company where you work together with colleagues in groups, in departments whatsoever. If you are successful, it is not that you have the success. You can’t keep it to yourself. It’s something that you share.

36:08
Everyone shares. And also with you. And this is for me also something that is very important about the goal setting. You know, goal setting should be something that is where you create a win-win situation between personal goals and company goals. So these need to go together. So there’s kind of development is a key thing.

36:37
So something that where you grow, where you develop, where you learn, where you stretch yourself, these are things you wouldn’t want to work on. And these should be also reflected in the projects and the tasks and the goals from the company perspective. And the better you can match these things together.

37:06
the easier the overall system works. Just going back to how to sell your achievements, there’s a formula that we also talk about this in the episode we just mentioned. It’s situation task, action, result, star. Just as an example, situation could be there was…

37:34
studies that you plan for with a pretty long recruitment time and actually clinical operations overestimated things and it’s actually much faster than anticipated. And now you have an early database log, you have accelerated timelines, and the task is now you need to provide results in time. So that’s a task that differentiates from what you actually do. So

38:03
What do you do to provide results in time? Maybe you reduce the unique tables to, I don’t know, eight instead of 40. And you streamline the programming, and you applied maybe visualization based on results data sets to make everything easier to digest and increase speed and decrease cost via that as well. And then the result is,

38:33
You reduce costs, you reduce the time, you accelerate things. Results can also be qualitative, like meeting the database log timeline, recognition from Fred, the senior VP, for easy displays of the results, making him very happy and helping him with his decision-making. So these are the results.

39:02
So, situation, task, action, result.

39:07
Yeah, that’s a good description of where you can kind of put this together in a really short frame to kind of give the full picture and the results, which is where it comes to play, where how successful your impact was. Yeah, and of course, it’s about the impact.

39:37
But also be realistic. Not everything is usually happy over the year. So if you can only sell your achievements, that’s great. But realistically, there also will be some misses. So how do you deal with misses? Well, you should have good explanations for them. Not necessarily saying, you know, finger pointing to somebody else,

40:06
kind of showing that you have reflected any failure, failure is a strong word, but any misses correctly, but also kind of get the lessons learned out of it. So why, what had happened? So what went wrong? And how will you avoid to have to do the same mistakes in the future?

40:36
into the perspective, really show that you take the lessons from anything that went wrong or not as good as expected and prove that you did your lessons. Bring it in the context of, for example, the next study saying that, you know, at this time I missed to communicate the timelines correctly on the time, but for the next interim analysis or whatever,

41:06
Here’s what I did. I sent out the timelines in time and everything went well. Yeah, yeah. That is actually a very, very good approach. If you can show already that you learned from it, that’s brilliant. Of course, if you have missed messed up things in November, that’s really bad timing. It’s tough, like, so aim for the promotion next year then. Yeah. The other thing is…

41:37
I know of supervisors that kind of bring up misses that are maybe not that important overall. So you’ve saved the company a couple of millions of dollars and whatsoever. And then at the end of the year, they come up with, well, you had this star achievement and this star achievement, but you were twice late with your expenses.

42:06
Yeah, yeah, but it’s also the way how you present it sometimes because, you know, if you go into the room and say, well, you know, I’ve been great in here and great in Greer and then at the end the question comes. So what went wrong? So what’s the lessons learned? It’s also a point of, you know, the last topics that you discuss is what, you know, what stays in the room. Yeah.

42:35
turn around any misses, turn around any weaknesses that you had and bring it to a positive end. The topic itself, but then also, for example, start with the bad and then end with the good. Yep, that’s a very, very good advice. And if you can reflect on the bad things and if you know about the bad things,

43:03
That is always a very, very good sign for your supervisors. Do you remember the discussions we had with Simon about supervisors? You said, as a supervisor, you don’t want to have someone that is not self-aware, because these are the people that are really, really hard to supervise. And to be honest, these are the people that will have a hard time to get promoted.

43:33
So if you can show that you can reflect about your behavior and if you can communicate the lessons learned, that shows for your supervisor, okay, that’s under control. And the worst thing that you can have as a supervisor is bad surprises and mistakes not under control.

44:03
Yeah. And also, I mean, on the other hand, it’s also if you have a, you know, if you do a mistake and you do it twice, it’s kind of a losing situation as well. So it’s really about, you know, putting this into the content, into the realistic content as well to not only preparing, you know, the year end review. I mean, you can’t turn around bad performance into like a glorious promotion. Yeah.

44:33
There’s, you know, there, I mean, there, obviously, we are talking about how to present yourself the best and you know, how to prepare for it. That’s, that’s true. But at the end, you know, if you if you repeatedly do the same mistakes, you know, don’t bring in the lessons learned.

44:55
So be realistic. If you realize that it’s really something, then put it into the goals for the next year, but don’t say that you already learned from it. So be realistic. The truth, I mean, the supervisors usually are not, you know, also quite smart people usually. So it helps to be honest and to be realistic on that one as well.

45:21
And one other thing, so if you now listen to this and you think like, how should I ever kind of complete this year end review? I don’t have the material. I don’t have any kind of good goals. I don’t have any, you know, things that we just talked about in the last 40 minutes, what I can use for my, to easily structure my year end PM review. Learn from it. And.

45:51
make things better next year. Because, how we say in Germany, after performance review is before performance review.

46:02
Okay, so just kind of as a summary, we talked today about goal setting and that there’s different ways of goal setting. And we talked about Michael Hyatt’s SMARTER acronym with goal setting. And by the way, you can find that also in the show notes. So just check out the effe

46:28
Go to this episode and there you will find the show notes including also the link to Michael’s goal setting article.

46:40
You start for your preparation for the end review by collating all the materials that you have, and going through your calendars and all these kinds of other things, recognitions, things like that. Then you try to group things into themes, summarize them into an elevator pitch, think about the formula, association task, action result.

47:09
Don’t forget about your missus. And then I think you are pretty well prepared. And by the way, the better you are prepared, the better you will have a year in review. Because I think that is one of the last impressions that the supervisor gets from you before he goes into any salary discussions. So.

47:38
Maybe you can at least wow your supervisor with a really, really well-prepared end review. Excellent. Thanks a lot. And talk to you next week. Talk to you next week. Bye.

47:55
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