Required skills

communication skills to discuss asset deficiencies with team members and to negotiate purchase and financial arrangements with suppliers

critical thinking skills to evaluate current and future asset needs and financial ability to update physical assets

initiative and enterprise skills to identify and analyse the utility of enhanced physical assets to improve business performance

literacy skills to

read and interpret complex product specifications and financial contracts

research new physical assets to enhance business performance

write detailed specifications for the supply of physical assets

numeracy skills to analyse financial data and interpret estimates and financial agreements for physical asset acquisition

planning and organising skills to manage maintenance and repair regimes and plan for the acquisition of assets

problemsolving skills to identify physical asset problems and to resolve through maintenance or replacement

selfmanagement skills to take responsibility for the monitoring of physical asset quality utility and acquisition

teamwork skills to regularly discuss the condition and utility of physical assets with team members and take account of their feedback when making acquisitions

Required knowledge

types of physical assets required by tourism hospitality and event organisations and the organisation in particular

maintenance requirements for different types of physical assets

a range of formats for and inclusions of asset registers

features and benefits of different financing options for asset acquisition including purchase rent lease and hire purchase

depreciation that can be applied to different types of physical assets

practices to support environmental sustainability using different types of physical assets

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

Overview of assessment

Critical aspects for assessment and evidence required to demonstrate competency in this unit

Evidence of the ability to

plan for and manage the acquisition maintenance and replacement of a diverse range of physical assets

monitor the utility of assets to meet business needs over a period of time

develop and maintain a current assets register

demonstrate knowledge of the features and benefits of different financing options for asset acquisition

Context of and specific resources for assessment

Assessment must ensure use of

a real or simulated tourism hospitality or event industry business operation for which physical assets are monitored and maintained

current commercial purchase specifications supplier product and cost information and contractual documentation used for the purchase of assets

suppliers with whom the individual can interact and negotiate

Method of assessment

A range of assessment methods should be used to assess practical skills and knowledge The following examples are appropriate for this unit

projects activities and case studies that allow assessment of the individuals ability to

manage physical assets for specific tourism hospitality and event business environments

develop and maintain a physical assets register

evaluate the performance of physical assets and take actions to address deficiencies

written or oral questioning to assess knowledge of financing options

review of portfolios of evidence and thirdparty workplace reports of onthejob performance by the individual

review of portfolios of evidence and thirdparty workplace reports of onthejob performance by the individual.

Guidance information for assessment

The assessor should design integrated assessment activities to holistically assess this unit with other units relevant to the industry sector workplace and job role for example

BSBWRTA Write complex documents

BSBWRT401A Write complex documents

SITXFIN Interpret financial information

SITXFIN Prepare and monitor budgets

SITXMGT Establish and conduct business relationships

Physical assets may include:

Business objectives may include:

Practices to support environmental sustainability may include:

Regular reporting practices may include a requirement for:

Assess may involve evaluation of:

Specialist assistance may involve:

Specifications may include:

Current,accurate and relevant dataused for estimating costs may include:

Methods of financing may include: