Application
Not applicable.
Prerequisites
Not applicable.
Elements and Performance Criteria
Elements and Performance Criteria | |||
Element | Performance Criteria | ||
1 | Develop strategies for systematic maintenance, repair and purchase of physical assets | 1.1 | Develop strategies for managing physical assets that reflect overall enterprise business and marketing objectives. |
1.2 | Evaluate current and potential financial objectives and constraints in developing asset management strategies. | ||
1.3 | Integrate all occupational health and safety requirements into physical asset management. | ||
1.4 | Develop and maintain an accurate and current physical assets register as part of the asset management strategy. | ||
1.5 | Incorporate maintenance and repair regimes, which minimise disruption and loss of revenue and which involve appropriate specialists. | ||
1.6 | Integrate the need for environmental sustainability into physical asset management practices. | ||
2 | Monitor the condition and performance of physical assets in the workplace | 2.1 | Establish and implement systems to ensure that the condition and performance of physical assets are regularly reported and discussed within the enterprise. |
2.2 | Establish and implement systems to identify timely replacement of physical assets. | ||
2.3 | Make assessments of physical asset performance based on safety, operational efficiency and customer service quality. | ||
2.4 | Identify problems promptly and take appropriate action. | ||
2.5 | Identify the need for and access specialist assistance when required. | ||
3 | Co-ordinate financing of physical assets | 3.1 | Prepare accurate work or equipment specifications to guide the acquisition process. |
3.2 | Estimate acquisition costs based on evaluation of current, accurate and relevant data, including supplier quotations and estimates. | ||
3.3 | Make appropriate decisions on the acquisition of physical assets in accordance with enterprise policies and procedures. | ||
3.4 | Select methods of financing to meet enterprise current financial objectives based on an analysis of internal and external | ||
3.5 | Implement the financing process in consultation with key stakeholders and appropriate financial specialists. | ||
3.6 | Make and keep accurate records of all financial agreements and related documents. |
Required Skills
Not applicable.
Evidence Required
Essential Knowledge and Skills to be Assessed
The following knowledge and skills must be assessed as part of this unit:
types of physical assets required within various tourism and hospitality enterprises
maintenance requirements for different types of physical assets
features and benefits of different financing options for asset acquisition including purchase, lease and hire purchase
features of an assets register
overview of taxation arrangements in relation to the acquisition and disposal of physical assets
specific legislation relevant to the management and maintenance of physical assets (e.g. in relation to vehicles, food production equipment)
environmental standards and requirements in relation to different types of physical asset.
Linkages to Other Units
This unit must be assessed with or after the following units. These units describe skills and knowledge that are essential to this unit of competence:
THHGLE04B Establish and maintain a safe and secure workplace
THHGLE15B Manage financial operations
There is also a link between this unit and the following unit and combined training and assessment may be appropriate:
THHGLE18B monitor and maintain computer systems
Note: Knowledge of specific legal issues is required within this unit. This means that there is some duplication with the generic unit THHGLE20B Develop and update the legal knowledge required for business compliance. Repetition should be avoided in training and assessment.
Critical Aspects of Assessment
Evidence of the following is critical:
ability to plan for and manage the acquisition, maintenance and replacement of physical assets within a specific tourism and hospitality workplace
understanding of the financial and legal issues that impact on the management of physical assets.
Context of Assessment and Resource Implications
Assessment must ensure:
project or work activities that allow the candidate to develop asset management strategies and financing arrangements for a specific business operation
application of current financial data and regulations.
Assessment Methods
Assessment methods must be chosen to ensure that asset management skills can be practically demonstrated. Methods must include assessment of knowledge as well as assessment of practical skills.
The following examples are appropriate for this unit:
case studies to develop asset acquisition and maintenance strategies for nominated business situations
evaluation of projects conducted by the candidate in conjunction with industry to acquire assets or develop ongoing maintenance strategies
oral or written questions to assess knowledge of financing options and relevant legislation
review of portfolios of evidence and third party workplace reports of on-the-job performance by the candidate.
Key Competencies in this Unit
Key Competencies are an integral part of all workplace competencies. The table below describes those applicable to this unit. Trainers and assessors should ensure that they are addressed in training and assessment.
Level 1 = Perform Level 2 = Administer and Manage Level 3 = Design and Evaluate
Key Competencies
Collecting, Organising and Analysing Information
For example:
Assessing information to determine whether it is more economically viable to lease or purchase (3)
Communicating Ideas and Information
For example:
Developing specifications that provide clear and concise information about enterprise needs (3)
Planning and Organising Activities
For example:
Developing and monitoring systems and work procedures to ensure effective management of physical assets (3)
Working with Others and in Teams
For example:
Liaising with the accountant to develop optimum approaches to the acquisition of physical assets (3)
Using Mathematical Ideas and Techniques
For example:
Estimating costs and financial implications of asset acquisition (2)
Solving Problems
For example:
Developing approaches to ongoing maintenance when all vehicles are required to meet peak season demands (3)
Using Technology
For example:
Using spreadsheet technology to develop and assess different financial scenarios (2)
Essential Knowledge and Skills to be Assessed
The following knowledge and skills must be assessed as part of this unit:
types of physical assets required within various tourism and hospitality enterprises
maintenance requirements for different types of physical assets
features and benefits of different financing options for asset acquisition including purchase, lease and hire purchase
features of an assets register
overview of taxation arrangements in relation to the acquisition and disposal of physical assets
specific legislation relevant to the management and maintenance of physical assets (e.g. in relation to vehicles, food production equipment)
environmental standards and requirements in relation to different types of physical asset.
Linkages to Other Units
This unit must be assessed with or after the following units. These units describe skills and knowledge that are essential to this unit of competence:
THHGLE04B Establish and maintain a safe and secure workplace
THHGLE15B Manage financial operations
There is also a link between this unit and the following unit and combined training and assessment may be appropriate:
THHGLE18B monitor and maintain computer systems
Note: Knowledge of specific legal issues is required within this unit. This means that there is some duplication with the generic unit THHGLE20B Develop and update the legal knowledge required for business compliance. Repetition should be avoided in training and assessment.
Critical Aspects of Assessment
Evidence of the following is critical:
ability to plan for and manage the acquisition, maintenance and replacement of physical assets within a specific tourism and hospitality workplace
understanding of the financial and legal issues that impact on the management of physical assets.
Context of Assessment and Resource Implications
Assessment must ensure:
project or work activities that allow the candidate to develop asset management strategies and financing arrangements for a specific business operation
application of current financial data and regulations.
Assessment Methods
Assessment methods must be chosen to ensure that asset management skills can be practically demonstrated. Methods must include assessment of knowledge as well as assessment of practical skills.
The following examples are appropriate for this unit:
case studies to develop asset acquisition and maintenance strategies for nominated business situations
evaluation of projects conducted by the candidate in conjunction with industry to acquire assets or develop ongoing maintenance strategies
oral or written questions to assess knowledge of financing options and relevant legislation
review of portfolios of evidence and third party workplace reports of on-the-job performance by the candidate.
Key Competencies in this Unit
Key Competencies are an integral part of all workplace competencies. The table below describes those applicable to this unit. Trainers and assessors should ensure that they are addressed in training and assessment.
Level 1 = Perform Level 2 = Administer and Manage Level 3 = Design and Evaluate
Key Competencies
Collecting, Organising and Analysing Information
For example:
Assessing information to determine whether it is more economically viable to lease or purchase (3)
Communicating Ideas and Information
For example:
Developing specifications that provide clear and concise information about enterprise needs (3)
Planning and Organising Activities
For example:
Developing and monitoring systems and work procedures to ensure effective management of physical assets (3)
Working with Others and in Teams
For example:
Liaising with the accountant to develop optimum approaches to the acquisition of physical assets (3)
Using Mathematical Ideas and Techniques
For example:
Estimating costs and financial implications of asset acquisition (2)
Solving Problems
For example:
Developing approaches to ongoing maintenance when all vehicles are required to meet peak season demands (3)
Using Technology
For example:
Using spreadsheet technology to develop and assess different financial scenarios (2)
Range Statement
This unit applies to all tourism and hospitality sectors. The following explanations identify how this unit may be applied in different workplaces, sectors and circumstances.
For generic pre-employment training and assessment, a range of industry contexts must be addressed. Where the focus is sector or workplace specific, training and assessment must be tailored to meet particular needs.
Physical assets management may be performed in whole or in part using external agencies and expertise.
Physical assets may include:
buildings
equipment
fixtures, fittings and furnishings
vehicles
gardens
pools
rides and games.
Systems to monitor condition and performance of physical assets may include:
integration of reporting into day-to-day operating procedures
regular management reports
inspections and audits (internal or external)
regular staff feedback
analysis of maintenance costs over a period of time.
Current, accurate and relevant data used for estimating costs may include:
quotations from suppliers
current maintenance contracts
published or advertised prices
previous contracts and costs.
This unit applies to all tourism and hospitality sectors. The following explanations identify how this unit may be applied in different workplaces, sectors and circumstances.
For generic pre-employment training and assessment, a range of industry contexts must be addressed. Where the focus is sector or workplace specific, training and assessment must be tailored to meet particular needs.
Physical assets management may be performed in whole or in part using external agencies and expertise.
Physical assets may include:
buildings
equipment
fixtures, fittings and furnishings
vehicles
gardens
pools
rides and games.
Systems to monitor condition and performance of physical assets may include:
integration of reporting into day-to-day operating procedures
regular management reports
inspections and audits (internal or external)
regular staff feedback
analysis of maintenance costs over a period of time.
Current, accurate and relevant data used for estimating costs may include:
quotations from suppliers
current maintenance contracts
published or advertised prices
previous contracts and costs.
Sectors
Not applicable.
Employability Skills
Not applicable.
Licensing Information
Not applicable.