Overview of assessment

This unit of competency could be assessed through practical demonstration of contributing to a formal property feasibility study. Targeted written (including alternative formats where necessary) or verbal questioning to assess the candidate's underpinning knowledge would provide additional supporting evidence of competence. The demonstration and questioning would include collecting evidence of the candidate's knowledge and application of ethical standards and relevant federal, and state or territory legislation and regulations. This assessment may be carried out in a simulated or workplace environment.

Critical aspects for assessment and evidence required to demonstrate competency in this unit

A person who demonstrates competency in this unit must be able to provide evidence of:

analysing market information to identify economic trends and market developments, as well as risk and contingency factors

consulting with relevant people and sourcing documentation and relevant legislation to establish study aims and objectives

documenting and presenting feasibility study using appropriate business equipment and technology

formulating sensitivity scenarios against industry benchmarks

knowledge of organisation's practices, ethical standards and legislative requirements associated with property feasibility studies

sourcing market and environmental information to identify factors affecting study.

Context of and specific resources for assessment

Resource implications for assessment include:

a registered provider of assessment services

assessment materials and tools

candidate special requirements

competency standards

cost and time considerations

suitable assessment venue and equipment

workplace documentation.

Where applicable, physical resources should include equipment modified for people with disabilities.

Access must be provided to appropriate learning and/or assessment support when required.

Assessment processes and techniques must be culturally appropriate, and appropriate to the language and literacy capacity of the candidate and the work being performed.

Validity and sufficiency of evidence require that:

competency will need to be demonstrated over a period of time reflecting the scope of the role and the practical requirements of the workplace

where the assessment is part of a structured learning experience the evidence collected must relate to a number of performances assessed at different points in time and separated by further learning and practice with a decision of competence only taken at the point when the assessor has complete confidence in the person's competence

all assessment that is part of a structured learning experience must include a combination of direct, indirect and supplementary evidence

where assessment is for the purpose of recognition (RCC/RPL), the evidence provided will need to be current and show that it represents competency demonstrated over a period of time

assessment can be through simulated project-based activity and must include evidence relating to each of the elements in this unit.

In all cases activity and must include evidence relating to each of the where practical assessment is used it will be combined with targeted questioning to assess the underpinning knowledge. Questioning will be undertaken in such a manner as is appropriate to the language and literacy levels of the candidate and any cultural issues that may affect responses to the questions, and will reflect the requirements of the competency and the work being performed.

This section describes the essential skills and knowledge and their level, required for this unit.

Required skills:

communication skills to negotiate client requirements and consult with industry experts and others

computing skills to access the internet and web pages, prepare and complete online forms, lodge electronic documents and search online databases

interpersonal skills to relate to people from a range of social, cultural and ethnic backgrounds and varying physical and mental abilities

literacy skills to interpret written and oral information

organisational skills to plan and schedule time lines and objectives, and manage project processes

problem solving skills to determine factors that may affect property markets and evaluate risk

research skills to source, analyse and interpret property and market information

technical skills to use software for planning and scheduling tasks, use financial and assessment software and spreadsheets efficiently, and access market information.

Required knowledge and understanding:

alternative property uses

building control legislation, codes and relevant Australian standards

business and industry property networks

limitations of work role, responsibility and professional abilities

market conditions

OHS issues and requirements

organisational and professional procedures, ethical practices and business standards

project assessment methods

relevant federal and state or territory legislation and local government regulations related to:

anti-discrimination

consumer protection

environmental issues

equal employment opportunity (EEO)

financial probity

franchise and business structures

industrial relations

OHS

privacy

property sales, leasing and management

sources of industry and market information

types of property markets

value management.

Clients may include:

financial institutions

fund managers

individuals

internal and external property groups

investment organisations.

Organisational requirements may be outlined and reflected in:

access and equity principles and practice guidelines

business and performance plans

complaint and dispute resolution procedures

goals, objectives, plans, systems and processes

legal and ethical requirements and codes of practice

mission statements and strategic plans

OHS policies, procedures and programs

policies and procedures in relation to client service

quality and continuous improvement processes and standards

quality assurance and procedure manuals.

Relevant people may include:

accountants

agents

clients

government personnel

interested parties

legal representatives

management and colleagues

members of industry associations

taxation specialists.

Relevant documentation may relate to:

building codes

current and planned property or site developments

deposited, survey and other plans and maps

depreciation schedules

land title and zoning

leasing rates

legal status

management policy and procedures

marketing services

permits

rates notices

sales information

taxation papers

tenancy and other contracts or leases.

Legislative requirements may be outlined and reflected in:

Australian standards

general duty of care to clients

home building requirements

privacy requirements

relevant federal, and state or territory legislation that affects organisational operation, including:

anti-discrimination and diversity

environmental issues

EEO

industrial relations

OHS

relevant industry codes of practice covering the market sector and industry, financial transactions, taxation, environment, construction, land use, native title, zoning, utilities use (water, gas and electricity), and contract or common law

strata, community and company titles

tenancy agreements

trade practices laws and guidelines.

Specialist advice may be sought from:

architects

bankers and financiers

developers

land economists

members of industry associations

planners

solicitors

taxation and accounting practitioners

valuers.

Sources of information may include:

consultants

industry and organisational databases

information services

press clippings

published industry data, including industry indices

third parties

trade journals.

Analysis may include:

computer modelling

examination of cash flows and other financial projections

examination of collected data

quantitative and qualitative analysis

probability analysis

time series recognition.

Communication techniques may include:

active listening

clear presentation of options

consultation methods

culturally inclusive and sensitive engagement techniques

questioning to clarify and confirm understanding

seeking feedback

two-way interaction

using language and concepts appropriate to cultural differences

verbal or non-verbal language.

Environment may relate to:

competitors

environmental issues, such as water, noise and air

financial markets

leasing and tenanting arrangements or prospects

market share

neighbours

property stakeholders

situational issues

size, location and nature of property

stability of property, industry and market.

Comparative market data may include:

best practice information

national and international benchmarking

inter-organisation comparison data.

Risk factors that may influence the complexity of the feasibility study may include:

constraints on use

existing land use and ownership

government zoning and restrictions

project financing

staging of investment or development

structure of leases

type and number of tenants.

Contingencies may relate to:

budget constraints

building delays

competing work demands of contractor

environmental factors, such as time and weather

industrial disputes

non-availability of resources and materials

public holidays and shut-down periods

equipment and technology breakdown

unforeseen incidents

workplace hazards, risks and controls.

Consultative processes may include:

face-to-face meetings

telephone, facsimile and written communication.

Benchmarks may include:

building operational costs

business strategy parameters

economic parameters

financial constraints

historical operational costs

industry published building occupation data

market expectations

research data

statutory costs.

Market conditions may relate to:

availability of alternatives

business confidence

economic conditions

level of competition.

Business equipment and technology may include:

computers

data storage devices

email

facsimile machines

internet, extranet and intranet

photocopiers

printers

scanners

software applications, such as databases and word applications.