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Evidence Guide: CUVFIM401A - Obtain revenue to support operations

Student: __________________________________________________

Signature: _________________________________________________

Tips for gathering evidence to demonstrate your skills

The important thing to remember when gathering evidence is that the more evidence the better - that is, the more evidence you gather to demonstrate your skills, the more confident an assessor can be that you have learned the skills not just at one point in time, but are continuing to apply and develop those skills (as opposed to just learning for the test!). Furthermore, one piece of evidence that you collect will not usualy demonstrate all the required criteria for a unit of competency, whereas multiple overlapping pieces of evidence will usually do the trick!

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CUVFIM401A - Obtain revenue to support operations

What evidence can you provide to prove your understanding of each of the following citeria?

Set revenue-raising goals

  1. Identify potential revenue sources from a range of information sources
  2. Identify factors that may affect the suitability of potential revenue sources
  3. Evaluate suitability of revenue sources in relation to the organisation’s overall vision
  4. Identify revenue-raising priorities in line with current direction and vision in consultation with relevant people
  5. Reach agreement on how and from which sources revenue will be raised as required
Identify potential revenue sources from a range of information sources

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify factors that may affect the suitability of potential revenue sources

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Evaluate suitability of revenue sources in relation to the organisation’s overall vision

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify revenue-raising priorities in line with current direction and vision in consultation with relevant people

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Reach agreement on how and from which sources revenue will be raised as required

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Implement revenue-raising strategies

  1. Identify processes to follow to access potential revenue sources
  2. Establish and maintain relationships with potential revenue sources
  3. Build positive relationships with key stakeholders who can provide support
  4. In a timely manner, assign resources required to raise revenue
  5. Negotiate with representatives from revenue sources to clarify terms and conditions of funding agreement
  6. Discuss funding agreement with all parties in a professional manner
Identify processes to follow to access potential revenue sources

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Establish and maintain relationships with potential revenue sources

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Build positive relationships with key stakeholders who can provide support

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

In a timely manner, assign resources required to raise revenue

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Negotiate with representatives from revenue sources to clarify terms and conditions of funding agreement

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Discuss funding agreement with all parties in a professional manner

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Evaluate revenue-raising strategies

  1. Monitor all arrangements to ensure compliance with funding requirements
  2. Review the impact of funding on the organisation
  3. Review priorities and revenue-raising strategies and amend as required
Monitor all arrangements to ensure compliance with funding requirements

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Review the impact of funding on the organisation

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Review priorities and revenue-raising strategies and amend as required

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Evidence Guide

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.

Overview of assessment

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

Evidence of the ability to:

develop an action plan that outlines strategies to raise revenue for a given organisation or practice

apply knowledge of revenue-raising opportunities in the relevant industry context.

Context of and specific resources for assessment

Assessment must ensure access to:

materials, resources and equipment needed to research funding and revenue opportunities.

Method of assessment

A range of assessment methods should be used to assess practical skills and knowledge. The following examples are appropriate for this unit:

evaluation of an action plan developed by the candidate detailing revenue-raising strategies

questioning and discussion about action plan and negotiation strategies

review of portfolios of evidence

review of third-party reports from experienced practitioners.

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).

Guidance information for assessment

Holistic assessment with other units relevant to the industry sector, workplace and job role is recommended, for example:

CUEFIN03C Obtain sponsorship

CUSFIM501A Secure funding for projects.

Required Skills and Knowledge

Required skills

communication skills to:

discuss revenue-raising issues with colleagues

communicate effectively with a range of stakeholders

conduct negotiations to clarify terms and conditions of funding agreements

establish and maintain relationships with representatives from funding bodies/revenue sources

initiative and enterprise to:

identify revenue sources that best suit the organisation’s profile and vision

anticipate and manage risks associated with obtaining revenue

numeracy skills to interpret organisational financial reports and budget documents

planning and organising skills to plan and implement approaches to revenue sources in a timely and logical manner

research skills to obtain necessary background information to assist with the identification of potential revenue sources

self-management skills to work within specified timelines

technology skills to:

use a range of office equipment and software to produce documents and reports

use the internet as a research tool.

Required knowledge

typical avenues through which revenue can be raised in the relevant industry content, including:

government departments

industry

private sector

methods used by similar organisations to generate revenue

emerging trends and different models for revenue-raising activities

issues and challenges that typically arise in the context of revenue raising

general business requirements associated with revenue and funding sources, including audit accounting and legal issues.

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, 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 sources may include:

advertising

corporate contributions

government funding

promotional opportunities

sales

sponsorship.

Information sources may include:

annual reports of companies known for sponsorship

benchmarking with similar organisations

directories:

government departments and agencies

industry

philanthropic trusts

industry networks

internet

print and electronic media

professional associations

tender search organisations

word-of-mouth.

Factors may include:

costs and benefits to the organisation

eligibility criteria

environmental issues

expectations of:

advertisers

corporate donors

funding bodies

grant conditions

level of funding offered

timing.

Priorities may be determined through consideration of:

benefits to the organisation

costs involved in seeking revenue:

compliance requirements

people

reporting requirements

resources

time

length of potential financial support

likely chance of success

nature of support

profile opportunities

relationship and network opportunities.

Relevant people may include:

board of directors

business manager

CEO

colleague

financial adviser

managing director.

Processes may include:

completion of proposals or submissions

direct approaches

presentations

responses to tenders or advertising

retail outlets sourced or established.

Ways to build positive relationships may include:

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

direct approaches

offering support to other organisations

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

presentations.

Funding agreement may include:

compliance monitoring arrangements

reporting and review requirements

rights and responsibilities of all parties

terms and conditions of agreement.

Impact may relate to:

ability to comply with any funding and sponsorship conditions

access to other potential revenue sources

additional networking opportunities

additional promotional and profiling opportunities

additional work requirements on staff

increase in the use of that funding source

opportunities to extend potential funding into new areas

reporting requirements.