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Elements and Performance Criteria

  1. Identify risks and opportunities in relation to assets and business systems.
  2. Document and report identified risks and opportunities.

Range Statement

This section specifies work environments and conditions that may affect performance. Essential operating conditions that may be present (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) are included. Bold italicised wording, if used in the performance criteria, is detailed below.

Risks must include:

people

performance

premises, plant and equipment

processes

profile or reputation

providers or suppliers.

Opportunities must include at least five of the following:

adding value

aggregating assets

altering existing property or facility

change in consumer perceptions or tastes

change in use, ownership, appearance and perception of property or facility

changing style of investment

creating something new

identifying a market niche

new or redeveloped property-related product or service

new source of funds.

Assets must include at least three of the following:

building facilities

buildings

cash

common property

equipment

goodwill

inventory

land

securities

vehicles.

Business systems must include at least three of the following:

administration

finance

information technology

knowledge management

marketing

sales

trust fund administration.

Securely maintaining information must include:

using business equipment and technology according to work health and safety (WHS) requirements

maintaining client confidentiality.

Performance Evidence

A person demonstrating competency in this unit must satisfy all of the elements, performance criteria, foundation skills and range of conditions of this unit.

The person must also identify and document routine risks and opportunities relating to two different assets and two different business systems in a property-related organisation.

In doing the above, the person must:

identify a range of potential risks and opportunities in key assets and business systems in the above organisation

identify and report gaps or breaches in established risk management practices

prepare risk and opportunity findings in a format suitable for presentation and review, using standardised styles and formats.

Knowledge Evidence

A person demonstrating competency in this unit must demonstrate knowledge of:

client and organisational confidentiality requirements

insurance policies, codes and operations relating to insurance requirements for assets and business systems

limitations of own work role, responsibilities and professional abilities in relation to identifying risks and opportunities in the property industry

mechanisms to obtain and analyse feedback

methods to identify and prioritise a range of risks and opportunities

risk management practices in the property industry

types of assets and business systems in organisations in the property industry.