Google Links

Follow the links below to find material targeted to the unit's elements, performance criteria, required skills and knowledge

Elements and Performance Criteria

  1. Identify risks and opportunities.
  2. Analyse risks and opportunities.
  3. Document findings.

Required Skills

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

Required skills

communication skills to source feedback and use interviewing and questioning techniques to obtain information

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

organisational skills to plan time lines and reporting mechanisms and record and file information

observation skills to identify existing or potential risks and opportunities

problem solving skills to apply reasoning and logical analysis to measure risk consequence and to recommend countermeasures or contingency plans

research skills to collate feedback analyse and interpret information and to form recommendations

technical skills to complete risk assessment plans

Required knowledge and understanding

client and organisational confidentiality requirements

concept of litigation

insurance policies codes and operations

mechanisms to obtain and analyse feedback

organisational goals and objectives activities and systems

principles and techniques for identifying and measuring risks and opportunities

property operations history and precedents regarding risk to operations and areas of opportunity

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


consumer protection

environmental issues

equal employment opportunity EEO

financial probity

franchise and business structures

industrial relations


property sales leasing and management

relevant industry codes of practice and standards

risk and opportunity assessment techniques and processes

Evidence Required

The evidence guide provides advice on assessment and must be read in conjunction with the performance criteria required skills and knowledge the range statement and the Assessment Guidelines for this Training Package

Overview of assessment

This unit of competency could be assessed through practical demonstration of identifying and analysing potential threats and opportunities to ensure safe and effective property operations Targeted written including alternative formats where necessary or verbal questioning to assess the candidates underpinning knowledge would provide additional supporting evidence of competence The demonstration and questioning would include collecting evidence of the candidates 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

assessing level of risk or opportunity potential against agreed assessment criteria

establishing terms of reference and developing effective action plan and structure for analysis and assessment

knowledge of organisations practices ethical standards and legislative requirements associated with identifying and analysing potential threats and opportunities to ensure safe and effective property operations

obtaining information from a range of sources and consultative processes to ensure accurate understanding of operating environment

reviewing and preparing findings relating to risks and opportunities in a format suitable for presentation

Context of and specific resources for assessment

Resource implications for assessment include

access to suitable simulated or real opportunities and resources to demonstrate competence

assessment instruments that may include personal planner and assessment record book

access to a registered provider of assessment services

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

Access must be provided to appropriate learning andor 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 persons 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 RCCRPL 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 projectbased activity and must include evidence relating to each of the elements in this unit

In all cases 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

Range Statement

The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording in the performance criteria is detailed below. Add any essential operating conditions that may be present with training and assessment depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts.

Information may relate to:

agency listing records

historical data


key personnel

lines of responsibility

operating environment of organisation, including financial markets, competitors, core business activities, functions and stakeholders

owner surveys

property management reports

reports and relevant documentation.

Risks may relate to:

deliberate, natural, accidental or perceived

industry special risks

loss of goodwill, reputation or credibility

loss of profits

loss, disclosure, destruction or compromise of asset

machinery malfunction


public liability

trade practices issues.

Opportunities may relate to:

adding value

aggregation of assets

altering existing property or facility

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

changing style of investment

creating something new

use of bankers and financiers.

Organisational requirements may be outlined and reflected in:

business and performance plans

complaint and dispute resolution procedures

goals, objectives, plans, systems and processes

legal and ethical requirements and codes of practice

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.

Terms of reference may relate to:

agreed timeframes

client expectations


limitations and exclusions

operational environment

roles and responsibilities

scale of the task or assessment (whether a full-scale operation or limited to a particular section or operation of the company)

security and other clearances.

Relevant people may include:



internal and external auditors

legal representatives

members of industry associations


Structured plan may be constructed by using:


interview question sheets

spreadsheets, word-processing and other software

structured planning software

structured questionnaires

structured tables.

Limitations may relate to:

industry requirements

job role and responsibilities

legal responsibilities

own competency level

own understanding of risk identification processes

quality processes.


may be:

explorative, descriptive, causative or predictive

quantitative and qualitative

may include:

basic statistical analysis

critical analysis

mathematical calculations

problem solving.

Assessment criteria may be based on:

Australian and New Zealand risk management standards

organisational or client requirements

qualitative and quantitative factors

semi-quantitative factors.

Risk and opportunity assessment findings may include:

graphical representations of data


summary of assessment outcomes

tables and information from approved data collection tools.

Feedback may be sought from:

supervisors and colleagues

documentation and reports

quality assurance data


regular meetings.

Legislative requirements may be outlined and reflected in:

Australian standards

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

home building requirements

privacy requirements

quality assurance and certification requirements

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

anti-discrimination and diversity

environmental issues


industrial relations


strata, community and company titles

tenancy agreements

trade practices laws and guidelines.