Assessor Resource

ICTICT801
Lead research into identifying new marketplace opportunities

Assessment tool

Version 1.0
Issue Date: March 2024


This unit describes the skills and knowledge required to lead the research, evaluation and recommendation of new organisational initiatives, based on perceived marketplace opportunities.

It applies to individuals who work as strategic business analysts in medium to large organisations in senior roles, who lead new business initiatives and transformation.

No licensing, legislative or certification requirements apply to this unit at the time of publication.

You may want to include more information here about the target group and the purpose of the assessments (eg formative, summative, recognition)



Evidence Required

List the assessment methods to be used and the context and resources required for assessment. Copy and paste the relevant sections from the evidence guide below and then re-write these in plain English.

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Direct the research into the organisation’s business domain

1.1 Research the sectors in the relevant industry for trends that may yield viable business opportunities

1.2 Research business initiatives undertaken by competitor organisations, to address the same or similar opportunities, and analyse the resources required to undertake such initiatives or project opportunities

1.3 Identify the strategies for realising identified business initiatives, including sub-contracting of suitable elements, where applicable

1.4 Research the legal, environmental and social implications of the identified initiatives

2. Evaluate the new business initiatives

2.1 Initiate, and oversee, the market research for potentially viable, identified business opportunities

2.2 Gauge the likely impacts of candidate initiatives on the business enterprise, including specific legal, financial and transformational implications

2.3 Critically evaluate the delivery strategies for anticipated products, or services, stemming from candidate initiatives

3. Explore the feasibility of the new initiatives

3.1 Formulate the selection criteria, based on the strategic business objectives

3.2 Facilitate a feasibility study, including a cost benefit analysis

3.3 Select the most feasible option against the selection criteria

3.4 Recommend the preferred initiative

Evidence of the ability to:

conduct research into the trends for a specified industry sector, and identify potential business opportunities

undertake market research and analysis, and report on the viability and related implications, of a selected business opportunity

develop and present a feasibility report, including a cost benefit analysis that justifies the recommendations for a proposed new business initiative.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

To complete the unit requirements safely and effectively, the individual must:

formulate various analysis methods and tools, including:

affinity diagrams

competition matrix

decision trees

mind maps

risk assessment

strengths, weaknesses, opportunities and threats (SWOT) analysis

value chain

review and outline, contract and procurement methods

summarise possible social implications, both internal and external, to the organisation as a result of the introduction of new market opportunities

research government and non-government governing bodies in the relevant industry

review legal, ethical, and security issues relating to the research of competitive business opportunities, including the laws related to patents and copyright

outline the organisational structure, policies and procedures

review the relevant government legislation that affects business operation.

Gather evidence to demonstrate consistent performance in conditions that are safe and replicate the workplace. Noise levels, production flow, interruptions and time variances must be typical of those experienced in the general information and communications technology (ICT) industry, and include access to:

appropriate resources, to allow research to be conducted into industry trends (this may include access to commercial research house libraries via a memorandum of understanding or other arrangements)

the opportunity to conduct meaningful market research on potential business opportunities

simulated, or real, executive-level management teams for the presentation of proposals and feedback.

Assessors must satisfy NVR/AQTF assessor requirements.


Submission Requirements

List each assessment task's title, type (eg project, observation/demonstration, essay, assingnment, checklist) and due date here

Assessment task 1: [title]      Due date:

(add new lines for each of the assessment tasks)


Assessment Tasks

Copy and paste from the following data to produce each assessment task. Write these in plain English and spell out how, when and where the task is to be carried out, under what conditions, and what resources are needed. Include guidelines about how well the candidate has to perform a task for it to be judged satisfactory.

ELEMENT

PERFORMANCE CRITERIA

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Direct the research into the organisation’s business domain

1.1 Research the sectors in the relevant industry for trends that may yield viable business opportunities

1.2 Research business initiatives undertaken by competitor organisations, to address the same or similar opportunities, and analyse the resources required to undertake such initiatives or project opportunities

1.3 Identify the strategies for realising identified business initiatives, including sub-contracting of suitable elements, where applicable

1.4 Research the legal, environmental and social implications of the identified initiatives

2. Evaluate the new business initiatives

2.1 Initiate, and oversee, the market research for potentially viable, identified business opportunities

2.2 Gauge the likely impacts of candidate initiatives on the business enterprise, including specific legal, financial and transformational implications

2.3 Critically evaluate the delivery strategies for anticipated products, or services, stemming from candidate initiatives

3. Explore the feasibility of the new initiatives

3.1 Formulate the selection criteria, based on the strategic business objectives

3.2 Facilitate a feasibility study, including a cost benefit analysis

3.3 Select the most feasible option against the selection criteria

3.4 Recommend the preferred initiative

Evidence of the ability to:

conduct research into the trends for a specified industry sector, and identify potential business opportunities

undertake market research and analysis, and report on the viability and related implications, of a selected business opportunity

develop and present a feasibility report, including a cost benefit analysis that justifies the recommendations for a proposed new business initiative.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

To complete the unit requirements safely and effectively, the individual must:

formulate various analysis methods and tools, including:

affinity diagrams

competition matrix

decision trees

mind maps

risk assessment

strengths, weaknesses, opportunities and threats (SWOT) analysis

value chain

review and outline, contract and procurement methods

summarise possible social implications, both internal and external, to the organisation as a result of the introduction of new market opportunities

research government and non-government governing bodies in the relevant industry

review legal, ethical, and security issues relating to the research of competitive business opportunities, including the laws related to patents and copyright

outline the organisational structure, policies and procedures

review the relevant government legislation that affects business operation.

Gather evidence to demonstrate consistent performance in conditions that are safe and replicate the workplace. Noise levels, production flow, interruptions and time variances must be typical of those experienced in the general information and communications technology (ICT) industry, and include access to:

appropriate resources, to allow research to be conducted into industry trends (this may include access to commercial research house libraries via a memorandum of understanding or other arrangements)

the opportunity to conduct meaningful market research on potential business opportunities

simulated, or real, executive-level management teams for the presentation of proposals and feedback.

Assessors must satisfy NVR/AQTF assessor requirements.

Copy and paste from the following performance criteria to create an observation checklist for each task. When you have finished writing your assessment tool every one of these must have been addressed, preferably several times in a variety of contexts. To ensure this occurs download the assessment matrix for the unit; enter each assessment task as a column header and place check marks against each performance criteria that task addresses.

Observation Checklist

Tasks to be observed according to workplace/college/TAFE policy and procedures, relevant legislation and Codes of Practice Yes No Comments/feedback
Research the sectors in the relevant industry for trends that may yield viable business opportunities 
Research business initiatives undertaken by competitor organisations, to address the same or similar opportunities, and analyse the resources required to undertake such initiatives or project opportunities 
Identify the strategies for realising identified business initiatives, including sub-contracting of suitable elements, where applicable 
Research the legal, environmental and social implications of the identified initiatives 
Initiate, and oversee, the market research for potentially viable, identified business opportunities 
Gauge the likely impacts of candidate initiatives on the business enterprise, including specific legal, financial and transformational implications 
Critically evaluate the delivery strategies for anticipated products, or services, stemming from candidate initiatives 
Formulate the selection criteria, based on the strategic business objectives 
Facilitate a feasibility study, including a cost benefit analysis 
Select the most feasible option against the selection criteria 
Recommend the preferred initiative 
Research the sectors in the relevant industry for trends that may yield viable business opportunities 
Research business initiatives undertaken by competitor organisations, to address the same or similar opportunities, and analyse the resources required to undertake such initiatives or project opportunities 
Identify the strategies for realising identified business initiatives, including sub-contracting of suitable elements, where applicable 
Research the legal, environmental and social implications of the identified initiatives 

Forms

Assessment Cover Sheet

ICTICT801 - Lead research into identifying new marketplace opportunities
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Assessment Record Sheet

ICTICT801 - Lead research into identifying new marketplace opportunities

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