Application
This unit of competency supports the work of those involved in placing a value on facilities or assets. |
Prerequisites
Nil |
Elements and Performance Criteria
ELEMENT | PERFORMANCE CRITERIA | ||||
1Research facility or asset. | 1.1 Information on client facility or asset is gathered and organised in a format suitable for analysis and interpretation according to organisational requirements. 1.2 Reliable methods of gathering information are used according to organisational requirements, making efficient use of available time and resources. 1.3 Appropriate interpersonal techniques are used to access additional information from relevant people. 1.4 Source documents are obtained and analysed to determine status and ownership of asset according to legislative requirements. | ||||
2Arrange assessment of value of facility or asset. | 2.1 Appropriate valuation specialists are arranged to provide advice according to organisational requirements. 2.2 Market value of facility or asset is assessed and determined according to established instructions and organisational procedures. 2.3 Comparative market data is accessed to enable a valid assessment of facility or asset value. 2.4 Estimation of value is clear, justified and based on assessment of all factors according to organisational procedures. 2.5 Limitations in determining value of facility or asset are recognised and specialist advice is sought as required according to organisational requirements. | ||||
3Present information. | 3.1 Information on value of facility or asset is presented within specified time, budget and quality constraints according to client and organisational requirements. 3.2 Information is prepared in the required format, style and structure using relevant business equipment and technology. 3.3 Feedback on suitability and sufficiency of advice is obtained and, where appropriate, incorporated into advice. 3.4 All facility or asset information is securely maintained with due regard to client confidentiality according to organisational and legislative requirements. |
Required Skills
This section describes the essential skills and knowledge and their level, required for this unit. | |
Required skills: analysis and interpretation skills to ensure collection of valid and reliable data, assess market information and determine value of facility or asset computing skills to access the internet and web pages, prepare and complete online forms, lodge electronic documents and search online databases interpersonal skills to liaise with relevant people to obtain asset information and to relate to people from a range of social, cultural and ethnic backgrounds and varying physical and mental abilities | |
literacy skills to access and interpret a variety of information and collate and prepare required documentation research and evaluation skills to identify gaps in data and source additional information. | |
Required knowledge and understanding: company record-keeping policies and procedures limitations of work role, responsibility and professional abilities OHS issues and requirements relevant financial record-keeping standards, practices and codes relevant Australian standards and legislation, including Australian accounting standards relevant federal and state or territory legislation and local government regulations related to: anti-discrimination consumer protection environmental issues equal employment opportunity (EEO) financial probity franchise and business structures industrial relations OHS privacy property sales, leasing and management relevant facility or asset financial record-keeping manuals. |
Evidence Required
The evidence guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, the range statement and the Assessment Guidelines for this Training Package.
Overview of assessment | This unit of competency could be assessed through practical demonstration of placing a value on facilities and assets. Targeted written (including alternative formats where necessary) or verbal questioning to assess the candidate's underpinning knowledge would provide additional supporting evidence of competence. The demonstration and questioning would include collecting evidence of the candidate's knowledge and application of ethical standards and relevant federal, and state or territory legislation and regulations. This assessment may be carried out in a simulated or workplace environment. |
Critical aspects for assessment and evidence required to demonstrate competency in this unit | A person who demonstrates competency in this unit must be able to provide evidence of: determining market value of facility or asset using market data and established accounting procedures knowledge of organisation's practices, ethical standards and legislative requirements associated with placing a value on facilities and assets presenting facility or asset valuation in a clear and comprehensive format researching and analysing asset information to clarify status and ownership of facility or asset. |
Context of and specific resources for assessment | Resource implications for assessment include: access to suitable simulated or real opportunities and resources to demonstrate competence assessment instruments that may include personal planner and assessment record book access to a registered provider of assessment services. Where applicable, physical resources should include equipment modified for people with disabilities. Access must be provided to appropriate learning and/or assessment support when required. Assessment processes and techniques must be culturally appropriate, and appropriate to the language and literacy capacity of the candidate and the work being performed. |
Validity and sufficiency of evidence require that: competency will need to be demonstrated over a period of time reflecting the scope of the role and the practical requirements of the workplace where the assessment is part of a structured learning experience the evidence collected must relate to a number of performances assessed at different points in time and separated by further learning and practice with a decision of competence only taken at the point when the assessor has complete confidence in the person's competence all assessment that is part of a structured learning experience must include a combination of direct, indirect and supplementary evidence where assessment is for the purpose of recognition (RCC/RPL), the evidence provided will need to be current and show that it represents competency demonstrated over a period of time assessment can be through simulated project-based activity and must include evidence relating to each of the elements in this unit. In all cases where practical assessment is used it will be combined with targeted questioning to assess the underpinning knowledge. Questioning will be undertaken in such a manner as is appropriate to the language and literacy levels of the candidate and any cultural issues that may affect responses to the questions, and will reflect the requirements of the competency and the work being performed. | |
Range Statement
The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording in the performance criteria is detailed below. Add any essential operating conditions that may be present with training and assessment depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts.
Clients may include: | agents company or business enterprises fund managers government agencies insurers internal and external property groups legal advisers private investors project managers property agents property owners risk assessors. |
Assets may relate to: | buildings business and marketing contracts equipment furniture goodwill land facilities vehicles. |
Organisational requirements may be outlined and reflected in: | access and equity principles and practice guidelines business and performance plans complaint and dispute resolution procedures goals, objectives, plans, systems and processes legal and ethical requirements and codes of practice mission statements and strategic plans OHS policies, procedures and programs policies and procedures in relation to client service quality and continuous improvement processes and standards quality assurance and procedure manuals. |
Interpersonal techniques may include: | active listening clear presentation of options consultation methods culturally inclusive and sensitive engagement techniques questioning to clarify and confirm understanding seeking feedback two-way interaction using language and concepts appropriate to cultural differences verbal or non-verbal language. |
Relevant people may include: | accountants clients colleagues legal representatives members of industry associations supervisors taxation specialists valuers. |
Source documents may include: | asset valuation statements company asset documents and registers comparative market data depreciation schedules financial documents qualitative and quantitative data reports and inventories taxation records. |
Legislative requirements may be outlined and reflected in: | Australian standards, and quality assurance and certification requirements award and enterprise agreements consumer protection freedom of information home building requirements privacy requirements public health relevant federal, and state or territory legislation that affects organisational operation, including: anti-discrimination and diversity environmental issues EEO industrial relations OHS relevant industry codes of practice strata, community and company titles tenancy agreements trade practices laws and guidelines. |
Comparative market data may include: | best practice information national and international benchmarking inter-organisation comparison data. |
Specialist advice may be sought from: | accountants bankers and financiers business consultants government officials investment consultants members of industry associations real estate agents solicitors subcontractors taxation specialists technical experts valuers. |
Business equipment and technology may include: | computers data storage devices facsimile machines internet, extranet and intranet photocopiers printers scanners software applications, such as databases and word applications. |
Feedback may be obtained from: | clients and colleagues documentation and reports quality assurance data questionnaires regular meetings. |
Information may relate to: | historical data insurance maintenance schedules operating environment of organisation, including financial markets, competitors, core business activities, functions and stakeholders property, facility and asset leases and contracts property, facility and asset management reports reports and relevant documentation useful and residual life of asset. |
Sectors
Unit sector | Property development, sales and management |
Competency Field
Property operations and development |
Employability Skills
The required outcomes described in this unit of competency contain applicable facets of employability skills. The Employability Skills Summary of the qualification in which this unit of competency is packaged, will assist in identifying employability skills requirements. |
Licensing Information
Refer to Unit Descriptor