Application
This unit of competency specifies the outcomes required to identify and analyse potential threats and opportunities to ensure safe and effective property operations. It requires the ability to assess property systems and assets to determine the level of risk exposure and identify areas of opportunity for property operations.
The unit supports workers in the property industry involved in identifying and analysing potential threats and opportunities to ensure safe and effective property operations. It applies to real estate agents, property managers, strata managers, Nationwide House Energy Rating Scheme (NatHERS) assessors, home sustainability assessors and facility managers.
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. | 1.1. | Information on actual and potential risks and opportunities is collected and assessed for currency, accuracy and relevance. |
1.2. | Structured plan for identifying and assessing likelihood of risk and opportunity is developed. | ||
1.3. | Limitations in identifying and assessing risks and opportunities are recognised, and assistance is sought as required. | ||
2. | Analyse risks and opportunities. | 2.1. | Identified risks and opportunities are analysed for validity and reliability. |
2.2. | Assessment criteria for measuring level of potential or existing risk or opportunity, together with an assessment of consequences, are developed according to terms of reference. | ||
2.3. | Gaps in assessment methodology are identified and appropriate actions implemented. | ||
2.4. | Valid and relevant data is analysed against assessment criteria to determine level of potential risk or opportunity. | ||
3. | Document findings. | 3.1. | Risk and opportunity assessment findings are documented. |
3.2. | Feedback on findings is actively sought to ensure accuracy and relevance of information. | ||
3.3. | Findings are updated as required and incorporated into risk and opportunity assessment plan for future management decision making. | ||
3.4. | Information is securely maintained with due regard to confidentiality. | ||
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 analyse potential risks and opportunities to ensure safe and effective property operations.
The person must demonstrate this performance by identifying and analysing three potential risks and three potential opportunities relating to the operations of one property-related organisation. The findings of this work must be documented in a form suitable for presentation to senior managers in the organisation.
In doing the above, the person must:
assess level of potential risk or opportunity against agreed assessment criteria
establish terms of reference and develop effective action plan and structure for analysis and assessment
apply knowledge of organisation’s practices, ethical standards, and legislative requirements associated with identifying and analysing potential risks and opportunities to ensure safe and effective property operations
obtain information from a range of sources and consultative processes to ensure accurate understanding of operating environment
review and prepare findings relating to risks and opportunities in a format suitable for presentation.
Evidence of Knowledge
A person demonstrating competency in this unit must demonstrate knowledge of:
client and organisational confidentiality requirements
concept of litigation
insurance policies, codes and operations
mechanisms to obtain and analyse feedback on findings of risk and opportunity analysis
principles and techniques for identifying and measuring risks and opportunities
key requirements of federal, state or territory legislation and local government regulations relating to:
anti-discrimination
consumer protection
environmental issues
equal employment opportunity (EEO)
financial probity
franchise and business structures
industrial relations
work health and safety (WHS)
property sales, leasing and management
property industry code of conduct and professional standards
risk and opportunity assessment techniques and processes.
Assessment Conditions
The following must be present and available to learners during assessment activities:
equipment:
computer system with internet, email and printing facilities
specifications:
organisation’s policies and procedures for identifying and assessing risks
procedures for identifying and analysing risks and opportunities
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 to analyse occurrence of 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. |
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 at least three of the following: | deliberate, natural, accidental or perceived risks industry special risks loss of goodwill, reputation or credibility loss of profits loss, disclosure, destruction or compromise of asset equipment malfunction work health and safety (WHS) public liability trade practices issues. |
Opportunities must include at least four of the following: | 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. |
Sectors
Property services
Competency Field
Strata community management