UEGNSG123B - Manage financial resources in a gas industry facility
Assessor Resource
UEGNSG123B Manage financial resources in a gas industry facility
Assessment tool
Version 1.0 Issue Date: March 2024
2)
This competency standard shall apply to any basic and safe work site where Gas Industry operations occur. It could also apply, where applicable to other workplaces in the electricity supply industry (transmission and distribution and generation), the electrotechnology industry and the water industry, subject to all Occupational Health and Safety and duty of care requirements being met for the workplace.
1) Scope:
1.1) Descriptor
This Unit covers the requirements to manage financial resources to achieve organisational and operational objectives. This competency standard refers to Budget formats; Operating budget; Policy; Financial reports; Management information systems.
You may want to include more information here about the target group and the purpose of the assessments (eg formative, summative, recognition)
Prerequisites
Prerequisite Unit(s)
4)
Competencies
4.1)
Granting of competency in this unit shall be made only after competency in the following unit(s) has/have been confirmed:
Nil
Literacy and numeracy skills
4.2)
Participants are best equipped to achieve this unit if they have reading, writing and numeracy skills indicated by the following scales. Description of each scale is given in Volume 2, Part 3 ‘Literacy and Numeracy’
Reading
5
Writing
5
Numeracy
5
Employability Skills
5)
This unit contains Employability Skills
The required outcomes described in this unit of competency contain applicable facets of Employability Skills. The Employability Skills Summary of the qualification in which this unit of competency is packaged will assist in identifying Employability Skill requirements.
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.
9) The Evidence Guide forms an integral part of this Unit and shall be used in conjunction with all components parts of this unit and performed in accordance with the Assessment Guidelines of this Training Package.
Overview of Assessment
9.1)
such as Profiling, require data to be reliably gathered in a form that can be consistently interpreted over time. This approach is best utilised in Apprenticeship programs and reduces assessment intervention. It is the Industry’s preferred model for apprenticeships. However, where summative (or final) assessment is used it is to include the application of the competency in the normal work environment or, at a minimum, the application of the competency in a realistically simulated work environment. It is recognised that, in some circumstances, assessment in part or full can occur outside the workplace. However, it must be in accord with industry and regulatory policy in this regard.
Methods chosen for a particular assessment will be influenced by various factors. These include the extent of the assessment, the most effective locations for the assessment activities to take place, access to physical resources, additional safety measures that may be required and the critical nature of the competencies being assessed.
The critical safety nature of working with electricity, electrical equipment, gas or any other hazardous substance/material carries risk in deeming a person competent. Hence, sources of evidence need to be ‘rich’ in nature so as to minimise error in judgment.
Activities associated with normal every day work have a bearing on the decision as to how much and how detailed the data gathered will contribute to its ‘richness’. Some skills are more critical to safety and operational requirements while the same skills may be more or less frequently practised. These points are raised for the assessors to consider when choosing an assessment method and developing assessment instruments. Sample assessment instruments are included in the Assessment Guidelines of this Training Package.
Critical aspects of evidence required to demonstrate competency in this unit
9.2)
Before the critical aspects of evidence are considered all prerequisites shall be met.
Evidence for competence in this unit shall be considered holistically. Each element and associated Performance Criteria shall be demonstrated on at least two occasions in accordance with the ‘Assessment Guidelines — UEG11’. Evidence shall also comprise:
A representative body of Performance Criteria demonstrated within the timeframes typically expected of the discipline, work function and industrial environment. In particular this shall incorporate evidence that shows a candidate is able to:
Implement Occupational Health and Safety workplace procedures and practices including the use of risk control measures as specified in the Performance Criteria and range
Apply sustainable energy principles and practices as specified in the Performance Criteria and range
Demonstrate an understanding of the essential knowledge and associated skills as described in this unit to such an extent that the learner’s performance outcome is reported in accordance with the preferred approach; namely a percentile graded result, where required by the regulated environment
Demonstrate an appropriate level of employability skills
Conduct work observing the relevant Anti discrimination legislation, regulations, polices and workplace procedures
Demonstrate performance across a representative range of contexts from the prescribed items below:
Range of tools/equipment/procedures/workplace
Group No
The minimum number of items on which skill is to be demonstrated
Item List
A
At least 1
Budget formats:
Zero based budgeting
Program budgeting
Line item budgeting
B
All
Operating budget:
Staffing costs
Capital expenditure/income
Recurrent expenditure/income
Forward estimates
Cash flow
C
All
Policy:
Supply
Procurement
Expenditure
Audit
Reporting and recording policies
D
At least 1
Financial reports:
Annual reports
Program financial statements
Accrual reports
Monthly/quarterly financial reports
E
At least 6
Management information systems:
Computers
Communication channels
Records management data
Procedures
Protocol
Legislation
Guidelines and awards
Organisation, legal and policy materials
Client information
Market trends
Registry and file records
Financial records
Basic statistical information
F
At least one occasion
Deal with an unplanned event by drawing on essential knowledge and associated skills to provide appropriate solutions incorporated in the holistic assessment with the above listed items
Context of and specific resources for assessment
9.3)
This unit should be assessed as it relates to normal work practice using procedures, information and resources typical of a workplace. This should include:
OHS policy and work procedures and instructions.
Suitable work environment, facilities, equipment and materials to undertake actual work as prescribed by this Unit.
Appropriate environmental regulation and work practices.
Appropriate organisational requirements.
Appropriate work environment, equipment and tools.
In addition to the resources listed above, in Context of and specific resources for assessment, evidence should show demonstrated competency of managing financial resources in a Gas Industry facility.
Assessment of this competency must also be undertaken in either an actual workplace or under a simulated work environment. Assessment must also integrate the employability skills.
Method of assessment
9.4)
This Unit shall be assessed by methods given in Volume 1, Part 3 ‘Assessment Guidelines’.
Note: Competent performance with inherent safe working practices is expected in the Industry to which this Unit applies. This requires that the specified Essential Knowledge and Associated Skills are assessed in a structured environment which is primarily intended for learning/assessment and incorporates all necessary equipment and facilities for learners to develop and demonstrate the Essential Knowledge and Associated Skills described in this unit.
Concurrent assessment and relationship with other units
9.5)
There are no recommended concurrent assessments with this unit, however in some cases efficiencies may be gained in terms of learning and assessment effort being concurrently managed with allied Units where listed.
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.
8) This describes the essential skills and knowledge and their level, required for this unit.
Evidence shall show that knowledge has been acquired of working practices for managing financial resources in a Gas Industry facility.
All knowledge and skills detailed in this unit should be contextualised to current industry practices and technologies.
KS01-G123B
Gas industry financial management
G 6.1.9
Understand and implement financial management
Evidence shall show an understanding of the requirements to perform applicable Gas Industry financial management activities, indicated by the following:
Understanding financial management with the ability to reporton project and company budgets utilising financial statements as required by organisational policies and procedures. These include but are not limited to:understanding financial management fundamentals and the how the following are tracked through in an accounting system:
assets and liabilities
revenue
expenses
equity
source documents
journals
ledgers
trial balance
reading, interpreting and reporting on project/company progress using accounting reports such as budget and cash flow reports
understanding of resource management systems to monitor inventory, stock, consumables and physical resources and other assets
managing resources
maintaining assets/assets management
stock/consumables control
maintaining assets register
understanding of computer accounting/bookkeeping software effectively
accounting software systems
invoicing
reconciling accounts
purchasing
stock control
general ledger
payroll
reporting.
10) This relates to the competency standard unit as a whole providing the range of contexts and conditions to which the Performance Criteria apply. It allows for different work environments and situations that will affect performance.
This Unit shall be demonstrated in relation to managing financial resources in a Gas Industry facility.
The following constants and variables included in the element/Performance Criteria in this unit are fully described in the Definitions Section of this volume and form an integral part of the Range Statement of this unit:
Budget formats
Operating budget
Policy
Financial reports
Management information systems
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
Budget format is determined and consistent with organisational guidelines and procedures, cost elements are identified and quantified and cost benefit analyses are prepared for major cost items in accordance with the organisations policy and procedures
Sub-budgets prepared by other staff are coordinated in order that desired objectives are achieved
Organisational established procedures on policies and specifications are obtained or established with the appropriate persons
Testing parameters are established from organisational established procedures on policies and specifications
Testing procedures are discussed with appropriate persons in order to ascertain the project brief
Cost benefit analysis are prepared for major cost items in accordance with the organisation's policy and procedures
Work roles and tasks are allocated according to requirements and individual's competencies
Work is prioritised and sequenced for the most effective outcome, completed within an acceptable timeframe to a quality standard and in accordance with established procedures
Liaison and communication issues with authorised persons, authorities and resolved and activities coordinated to carry out work
Risk control measures are identified, prioritised and evaluated against the work schedule
Financial resources are allocated as agreed in the operational plan and is monitored to ensure that expenditure management meets the financial accountability requirements of the organisation
Supply and expenditure processes are performed in accordance with corporate governance and organisational protocols and procedures
Mathematical models are used to analyse the financial reports as per requirements and established procedures
Sub-budgets and financial allocation is continually monitored against organisational objectives and priorities ensuring optimum service delivery
Essential Knowledge and Associated Skills are applied to analyse specific data and compare it with compliance specifications to ensure completion of the project within an agreed timeframe according to requirements
Re-allocation of resources is undertaken taking into account of enterprises needs and priorities
Work teams are arranged to ensure planned goals are met according to established procedures
Solutions to non-routine problems are identified and actioned, according to requirements, using acquired Essential Knowledge and Associated Skills,
Quality of work is monitored against personal performance agreement and established organisational and professional standards
Strategic plans are developed incorporating organisation initiatives as per established procedures
Management information systems are used for planning, implementing and monitoring the use of financial resources in accordance with company policies and established procedures
Management information system reports are produced, verified and interpreted
Management of budget is reviewed in accordance with company policies and established procedures
Management of budget is reported in accordance with company policies and established procedures
Appropriate persons are notified of completion and reports and completion documents are finalised.
Reports and completion documents are submitted to relevant persons for approval and where applicable, statutory or regulatory approval
Approved copies of documents are issued and records are updated in accordance with established procedures
Forms
Assessment Cover Sheet
UEGNSG123B - Manage financial resources in a gas industry facility
Assessment task 1: [title]
Student name:
Student ID:
I declare that the assessment tasks submitted for this unit are my own work.
Student signature:
Result: Competent Not yet competent
Feedback to student
Assessor name:
Signature:
Date:
Assessment Record Sheet
UEGNSG123B - Manage financial resources in a gas industry facility
Student name:
Student ID:
Assessment task 1: [title] Result: Competent Not yet competent
(add lines for each task)
Feedback to student:
Overall assessment result: Competent Not yet competent