This unit of competency supports the work of those involved in monitoring the ongoing performance of an asset or facility portfolio.

Nil

ELEMENT

PERFORMANCE CRITERIA

1Identify performance requirements.

1.1 Performance requirements are identified in consultation with relevant people.

1.2 Client needs and expectations are assessed and clarified using appropriate research and survey techniques and consultative processes.

1.3 Source documents are obtained and analysed to ensure information is current and reliable.

1.4 Situations requiring specialist advice are identified and addressed.

1.5 Applicable industry, organisational and legislative requirements are interpreted and complied with.

2Monitor performance of assets and facilities.

2.1 Performance of assets and facilities are regularly monitored to ensure client objectives are met.

2.2 Trends and market conditions are identified and evaluated against industry benchmarks to determine performance of assets and facilities.

2.3 Assessment requirements are determined and assessment processes established that accurately reflect client needs.

2.4 Reliable evaluation methods for measuring performance are used, making efficient use of time and resources.

2.5 Variations between performance expectations and actual performance are identified and explained to relevant people according to organisational procedures.

3Provide advice and recommendations.

3.1 Clients are provided with clear advice and recommendations on whether performance of facility meets their identified needs and expectations.

3.2 Feedback on suitability and sufficiency of advice and recommendations is obtained according to organisational procedures.

3.3 Advice and recommendations are formed on the basis of verifiable evidence and are consistent with monitoring objectives and client requirements.

3.4 Advice and recommendations are presented in an appropriate format, style and structure using business equipment and technology.

3.5 Information is securely maintained with due regard to client confidentiality, and legislative and organisational requirements.

This section describes the essential skills and knowledge and their level, required for this unit.

Required skills:

analytical skills to analyse asset or facility performance, identify variances and provide recommendations for optimum performance

communication skills to clarify ideas and perspectives

computing skills to access the internet and web pages, prepare and complete online forms, lodge electronic documents and search online databases

interpersonal skills to relate to people from a range of social, cultural and ethnic backgrounds and varying physical and mental abilities

leadership skills to take a leading role in a variety of situations and pursue new challenges and opportunities

literacy skills to interpret written and oral information, complete documentation, report findings, access and interpret relevant information, evaluate performance of assets and facilities, and prepare advice and recommendations

research skills to collect reliable and valid information and source market analysis data to determine performance of specific assets and facilities.

Required knowledge and understanding:

adaptive re-use strategies and implications for business continuity

due diligence procedures

economics and management of facilities and support services using a whole-of-life approach

financial analysis and forecasting principles

impact of taxation on portfolio management, including asset depreciation

industry performance benchmarks, including use and application of value analysis and benchmarking techniques

industry practice and benchmarks

investment risk factors and relationship to return expectations

organisational and professional procedures, ethical practices and business standards

principles and practices of performance measurement, including evaluation processes and techniques

range of research methods and analysis techniques

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

risk management associated with facility use

value identification and quality assessment.

Overview of assessment

This unit of competency could be assessed through practical demonstration of monitoring the ongoing performance of an asset or facility portfolio. 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:

accurately determining facilities and asset performance expectations through consultation and research of relevant documentation

knowledge of organisation's practices, ethical standards and legislative requirements associated with monitoring the ongoing performance of an asset or facility portfolio

monitoring asset performance using data analysis evaluation methods and identifying variations in performance expectations

providing advice and recommendations to client using business equipment and technology and incorporating constructive feedback.

Context of and specific resources for assessment

Resource implications for assessment include:

a registered provider of assessment services

competency standards

assessment materials and tools

suitable assessment venue and equipment

workplace documentation.

candidate special requirements

cost and time considerations.

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 activity and must include evidence relating to each of the 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.

Performance requirements may relate to:

concepts and plans

customer service outcomes

productive use of property and assets

strategies and placement of capital in property for investment.

Relevant people may include:

accountants

analysts

clients

government personnel

legal representatives

management and colleagues

members of industry associations

taxation specialists.

Clients may include:

bankers

company management

facility agents

facility owners

fund managers

fund providers

government and legal instruments or agencies

institutions

internal and external facility groups

investors

owner-occupiers

tenants.

Client needs and expectations may include:

immediate capital gains

long-term capital gains.

Consultative processes may include:

face-to-face meetings

telephone, facsimile and written communication.

Source documents may include:

company property documents and registers

comparative market data

depreciation schedules

financial documents

funding strategies

life cycle strategic asset management plans

property valuation statements

qualitative and quantitative data

reports and inventories

strategic facilities management plans

taxation records.

Specialist advice may be sought from:

architects

bankers and financiers

builders

business consultants

government officials

investment consultants

members of industry associations

OHS representatives

planners

real estate agents

solicitors

subcontractors

technical experts

valuers.

Organisational requirements may be outlined and reflected in:

access and equity principles and practice guidelines

business and performance plans

complaint and dispute resolution procedures

emergency and evacuation procedures

employer and employee rights and responsibilities

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

policies and procedures relating to own role and responsibility

quality and continuous improvement processes and standards

quality assurance and procedure manuals

records and information systems and processes.

Legislative requirements may be outlined and reflected in:

Australian standards

codes of practice covering the market sector and industry, financial transactions, taxation, environment, construction, land use, native title, zoning, utilities use (water, gas and electricity), and contract or common law

environmental and zoning laws affecting access and facility use, and access security

general duty of care to clients

home building requirements

local regulations and by-laws affecting subject facility

privacy laws applying to owners, contractors and tenants

quality assurance and certification requirements

relevant federal, and state or territory legislation that affects organisational operation, including:

anti-discrimination and diversity

environmental issues

EEO

industrial relations

OHS

strata, community and company titles

tenancy agreements

trade practices laws and guidelines.

Performance of assets and facilities may be influenced by:

capacity to improve assets

capital growth versus short-term gain

cash flows

change to organisational structure

demographics

gearing possibilities

geographic aspects

limits to financial resources

return on investment

return versus risk

taxation considerations

type of facility.

Asset may include:

building

equipment

land

property.

Facilities may include:

child care centres

offices

recreation

sport and recreation venues

car parking

community facilities

educational facilities

meeting places

security facilities.

Market conditions may include:

availability of alternatives

business confidence

economic conditions

level of competition.

Industry benchmarks may include:

discounted cash flow

employment rates

industry association performance index

inflation rate

internal rate of return

life cycle costing

published vacancy factors

tenancy mix.

Assessment requirements may relate to:

after and pre-tax analysis

capital growth

cash flow

client objectives

degree of compliance with legislation

degree of functionality

degree of market acceptance

depreciation

discounted rate of return

financial feasibility

foregone income

horizon for investment

internal rate of return

nett present value

sale potential.

Evaluation methods could be qualitative or quantitative and may include:

computer modelling

cost data analysis

examination of cash flows and other financial projections

examination of collected data

expert and peer review

observation or interviews

probability analysis

time series recognition.

Variations may relate to:

financial performance

functionality

physical condition

use.

Recommendations may relate to:

acquisition

disposal

establishment of a new asset

new finance arrangements

new tenant or lease arrangements

operation and maintenance

rebuilding

redeveloping

refurbishment and fit-out

repackaging.

Feedback may be obtained from:

clients and colleagues

legal representatives

documentation and reports

quality assurance data

questionnaires

regular meetings.

Business equipment and technology may include:

computers

data storage devices

email

facsimile machines

internet, extranet and intranet

photocopiers

printers

scanners

software applications, such as databases and word applications.

Unit sector

Property development, sales and management

Property operations and development

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.