Application
This unit of competency specifies the outcomes required to identify risks and opportunities in the property industry. It requires the ability to identify key assets and business systems, identify risks associated with asset and system use, and document and report identified risks and opportunities.
The unit supports the work involved in identifying risks and opportunities to maintain effective use of assets and business systems. It applies to all people working in the property industry.
Licensing, legislative, regulatory or certification requirements apply to this unit in some States and Territories. Relevant state and territory regulatory authorities should be consulted to confirm those requirements.
Elements and Performance Criteria
Elements describe the essential outcomes. | Performance criteria describe the performance needed to demonstrate achievement of the element. Where bold italicised text is used, further information is detailed in the range of conditions. | ||
1. | Identify risks and opportunities in relation to assets and business systems. | 1.1. | Client and organisational assets and business systems to be analysed for risk and opportunities are identified. |
1.2. | Potential risks to and opportunities for clients and organisation are identified and confirmed with relevant people in line with organisational requirements. | ||
1.3. | Relevant legislative requirements, insurance, codes and standards applicable to use of assets and business systems are identified and examined to identify potential risks and opportunities. | ||
1.4. | Limitations in identifying risks and opportunities are identified and specialist advice is sought as required. | ||
1.5. | Gaps or breaches in established risk management practices are identified and reported. | ||
2. | Document and report identified risks and opportunities. | 2.1. | Identified risks and opportunities supported by verifiable evidence are documented in a clear and concise manner and suitable format. |
2.2. | Feedback is actively sought to ensure sufficiency and relevance of information in meeting client and organisational requirements. | ||
2.3. | Information is securely maintained according to legislative and organisational requirements. | ||
Evidence of Performance
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.
Evidence of Knowledge
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.
Assessment Conditions
The following must be present and available to learners during assessment activities:
equipment:
computer system with internet, email and printing facilities
specifications:
organisational risk management policies and procedures
organisational procedures relating to asset and business system use
relationship with team members and supervisor:
member of a work team in a property industry context.
Assessor requirements
As a minimum, assessors must satisfy the assessor requirements in the Standards for Registered Training Organisations (RTOs) current at the time of assessment.
Foundation Skills
This section describes the language, literacy, numeracy and employment skills essential to performance in this unit but not explicit in the performance criteria. | |
Skill | Performance feature |
Learning skills to: | maintain current knowledge of routine risk identification and reporting procedures. |
Numeracy skills to: | interpret routine graphical and statistical information on common risks in the property industry. |
Oral communication skills to: | ask questions to clarify scope of own responsibility with regard to identifying and reporting risks and opportunities. |
Reading skills to: | read and interpret routine workplace documents on own responsibility for identifying and reporting risks to relevant people. |
Writing skills to: | prepare routine documentation, including emails, memos and letters, to report risks and opportunities. |
Technology skills to: | use business technology to access online information about routine risks and opportunities in the property industry. |
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. |
Sectors
Property services
Competency Field
Strata community management