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

Elements and Performance Criteria

1. Set revenue-raising goals
   • Identify potential revenue sources from a range of information sources
   • Identify factors that may affect the suitability of potential revenue sources
   • Evaluate suitability of revenue sources in relation to own or organisational overall vision
   • Identify revenue-raising priorities in line with current direction and vision in consultation with relevant people
   • Determine how and from which sources revenue will be raised
2. Implement revenue-raising strategies
   • Identify processes to follow to access potential revenue
   • Build and maintain positive relationships with key stakeholders who can provide financial support
   • Coordinate development of funding proposals
   • Negotiate terms and conditions of funding agreements
   • Clarify commitments made by both parties and communicate these to relevant people
3. Evaluate revenue-raising strategies
   • Monitor all arrangements to ensure compliance with funding requirements
   • Review the impact of funding on self or the organisation
   • Review priorities and revenue-raising strategies and amend as required

Performance Evidence

Evidence of the ability to:

develop and document a plan that outlines strategies to raise revenue for a given organisation or practice

research revenue-raising opportunities relevant to the organisation or practice

coordinate the development of a funding proposal

monitor and review revenue-raising strategies.

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

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Knowledge Evidence

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

describe sources of information for potential funding

explain typical avenues through which revenue can be raised in the relevant industry context and their typical objectives and expectations:

outline a wide range of methods used by visual arts practitioners and organisations to generate revenue

discuss emerging trends and different models for revenue-raising activities

explain issues and challenges that typically arise in revenue raising activities

explain the key obligations generally associated with funding agreements, including:

legal requirements to supply services as contracted and ramifications of failure to comply

audit of expenditure

reporting requirements.

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