This unit has linkages to a range of other units and combined assessment and/or training with those units may be appropriate, e.g.:

CUEFIN03B Obtain sponsorship.

ELEMENT

PERFORMANCE CRITERIA

1 Determine potential revenue opportunities.

1.1 Research potential revenue opportunities to determine availability.

1.2 Research potential revenue opportunities in terms of access and constraints.

2 Evaluate potential revenue sources.

2.1 Evaluate opportunities in relation to the organisation's overall vision and direction.

2.2 Evaluate opportunities in terms of potential costs and benefits to the organisation.

2.3 Determine priorities in seeking revenue from identified sources in accordance with the organisation's current direction and vision.

3 Establish and maintain relationships associated with potential revenue sources.

3.1 Identify key stakeholders who can support the organisation and/or its revenue building activities.

3.2 Determine avenues to establish suitable relationships which will support the organisation and/or its revenue building activities.

3.3 Maintain and build positive relationships which support the organisation.

4 Implement strategies to enhance revenue.

4.1 In a timely manner, assign appropriate resources associated with seeking revenue or funding.

4.2 Pursue selected potential revenue sources in accordance with priorities.

5 Evaluate revenue opportunities.

5.1 Monitor all arrangements to ensure compliance with the requirements of the funding source.

5.2 Review the impact of funding on the organisation.

5.3 Review organisation's priorities and funding planning arrangements.

Required skills:

systems through which opportunities may occur, e.g. government departments, industry

business requirements, e.g. audit, accounting, legal responsibilities.

Required knowledge:

other organisations and the approaches they have used to generate revenue and funding.

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.

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

The following evidence is critical to the judgement of competence in this unit:

development of an action plan which outlines selected strategies for pursuit of funding or revenue for a given organisation.

Context of and specific resources for assessment

The assessment context must provide for:

practical demonstration of skills through the development of an action plan detailing revenue strategies.

Method of assessment

Assessment may incorporate a range of methods to assess performance and the application of essential underpinning knowledge, and might include:

role play/simulation around relationships and negotiation activities

preparation of action plans, strategies and proposals

questioning and discussion about action plan and negotiation strategies

verbal and written reports

development and analysis of case studies

review of portfolios of evidence

third party workplace reports of performance by the candidate.

Assessment methods should closely reflect workplace demands and the needs of particular groups (e.g. people with disabilities, and people who may have literacy or numeracy difficulties such as speakers of languages other than English, remote communities and those with interrupted schooling).

Assessment of this unit requires access to the materials, resources and equipment needed to research funding and revenue opportunities.

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, if used in the performance criteria, is detailed below. 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) may also be included.

Revenue opportunities may include:

advertising

corporate contributions

government funding

promotional opportunities

sales

sponsorship.

Research may include:

benchmarking with other similar organisations

experts

government funding programs

Internet

newspapers and magazines

tender search organisations.

Process required to access potential revenue sources may include:

completion of proposals or submissions

direct approaches

presentations

response to tenders or advertising

retail outlets sourced or established.

Evaluation of potential revenue opportunities may include:

analysis of benefits

analysis of costs involved, e.g. time, people, resources, compliance requirements, reporting requirements

consistency with organisational vision

length of support obtained

likely chance of success

nature of support obtained

profile opportunities

relationship/network opportunities.

Avenues to establish relationships may include:

attendance at organised networking events, e.g. conferences, openings, launches

direct approaches

offering support to other organisations

organisation of own networking events, e.g. launches, displays, workshops, promotions

presentations.

Resources may include:

costs associated with such things as catering, printing, mail outs, etc

staff

time.

Impact of funding on organisation may involve:

ability to comply with any funding/sponsorship conditions

access to other potential revenue sources

additional networking opportunities

additional promotional and profiling opportunities

additional work requirements on staff

increase in the utilisation of that funding source

opportunities to extend potential funding into new areas

reporting requirements.

This unit contains employability skills.