Once a month, we practice this more slowly and read more of it in English to help those new to Tibetan Buddhism learn more about this foundational practice. Here is a description of this practice:
The Great Perfection: Buddha in the Palm of the Hand
The Lama's Oral Instructions on the Recitation and Visualization of the Preliminary Practices
The Namchö teachings are known as "Space Treasures". Although the Namchö preliminary practice is very deep and profound, it is clear and easy for all to practice. A foundational practice of Tibetan Buddhism, by accomplishing this practice, one can realize the nature of the mind. With the Nam Chö Ngöndro, we can develop loving-kindness for all beings and devotion, trust, confidence, diligence, and perseverance in our spiritual path. These teachings, including the preliminary practice, were revealed in the 11th Century by the Tertön Migyur Dorje who received them from Avalokitesvara, and have been passed down from master to student through the centuries. The blessings of the Palyul lineage are pure and unbroken.
This information comes from His Holiness Penor Rinpoche and Khenchen Tsewang Gyatso Rinpoche.