Elements and Performance Criteria
- Identify the major cost components of product or process in own work area
- Recognise the impact of current or alternative actions on costs
- Identify constraints to cost-efficiency
- Identify costs factors under individual or team control
- Relate identified costs factors to impact on overall cost of production or process
- Identify cost factors that are a constraint to cost-efficiency in own work area
- Apply cost-efficient work practices
- Identify non-financial implications of proposed changes in discussion with relevant people
- Select actions which minimise overall costs
- Monitor actions to ensure cost-efficiency in own work area is maintained