This document discusses competency-based teaching and education. It begins by defining key terms related to competency-based learning. It then lists the general and specific objectives of the lecture, which are to understand competency-based teaching and define related terms, characteristics, benefits and elements. The document proceeds to define additional terms and list the characteristics of competency-based education. It identifies practical benefits and the ten elements of a competency-based system. Finally, it outlines the steps of assessing readiness for competency-based education, including initial analysis, institutional readiness, program design, curriculum design, scalability, marketing, and ongoing student engagement and data improvement.