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Evidence Guide: MEACOM0030 - Prepare and manage aviation maintenance organisation budgets and financial plans

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!

From the Wiki University

 

MEACOM0030 - Prepare and manage aviation maintenance organisation budgets and financial plans

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

Analyse strategic opportunities and intended maintenance activities

  1. Identify strategic opportunities and express them in terms of aircraft and aeronautical product maintenance activities
  2. Convert intended maintenance activities into special projects or work programs
  3. Analyse and interpret financial trends in the context of organisational strategic objectives
  4. Identify financial planning objectives, process timeframes, and resources
Identify strategic opportunities and express them in terms of aircraft and aeronautical product maintenance activities

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Convert intended maintenance activities into special projects or work programs

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Analyse and interpret financial trends in the context of organisational strategic objectives

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify financial planning objectives, process timeframes, and resources

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Develop revenue, expenditure and capital investment proposals

  1. Give individuals and groups responsibility for developing specific budgets and plans
  2. Consult with required groups and individuals throughout organisation on expenditure issues pertaining to aviation maintenance
  3. Develop proposals, taking account of past experience, present trends, and future expectations
  4. Link outcomes of proposals to organisational strategic objectives
  5. Incorporate realistic cost-benefit and aviation maintenance organisation exposition compliance costs into all proposals
  6. Meet organisational investment target rates for capital expenditure proposals
  7. Identify performance measures and tactics for monitoring and control processes for each proposal/action, and develop a financial risk management plan
  8. Review proposals to ensure their compliance with organisational values, policies, code of conduct, and legal and ethical obligations
  9. Develop proposals within agreed timeframes
  10. Include valid and sufficient supporting evidence that allows proper evaluation of proposals
Give individuals and groups responsibility for developing specific budgets and plans

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Consult with required groups and individuals throughout organisation on expenditure issues pertaining to aviation maintenance

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Develop proposals, taking account of past experience, present trends, and future expectations

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Link outcomes of proposals to organisational strategic objectives

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Incorporate realistic cost-benefit and aviation maintenance organisation exposition compliance costs into all proposals

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Meet organisational investment target rates for capital expenditure proposals

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify performance measures and tactics for monitoring and control processes for each proposal/action, and develop a financial risk management plan

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Review proposals to ensure their compliance with organisational values, policies, code of conduct, and legal and ethical obligations

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Develop proposals within agreed timeframes

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Include valid and sufficient supporting evidence that allows proper evaluation of proposals

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Build agreement for budgets and financial plans

  1. Negotiate with designated groups and individuals in ways that build commitment to the plans
  2. Confirm clear, concise objectives and timeframes according to organisational strategic objectives
  3. Agree on negotiated matters to be incorporated into budgets and plans
  4. Review budgets and plans to ensure they incorporate negotiation outcomes and meet organisational approval processes
  5. Agree delegations, accountabilities, and responsibilities and confirm them in writing
  6. Document final budget and plans and develop a communication plan
Negotiate with designated groups and individuals in ways that build commitment to the plans

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Confirm clear, concise objectives and timeframes according to organisational strategic objectives

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Agree on negotiated matters to be incorporated into budgets and plans

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Review budgets and plans to ensure they incorporate negotiation outcomes and meet organisational approval processes

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Agree delegations, accountabilities, and responsibilities and confirm them in writing

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Document final budget and plans and develop a communication plan

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Communicate budget and financial plans

  1. Distribute budget/financial plan communication package to finance specialists for review
  2. Revise and amend package in response to review feedback
  3. Explain plan data and terms to users
  4. Test communication outcomes to ensure clear understanding of objectives, processes, and accountabilities
Distribute budget/financial plan communication package to finance specialists for review

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Revise and amend package in response to review feedback

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Explain plan data and terms to users

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Test communication outcomes to ensure clear understanding of objectives, processes, and accountabilities

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Monitor and control activities against plans

  1. Confirm delegations and budget accountabilities in writing prior to budget period
  2. Allocate funds according to budget objectives and parameters
  3. Review recording systems and documentation to ensure they meet audit requirements and legal obligations
  4. Implement risk management plans and contingency plans for all financial plans
  5. Monitor performance and promptly identify variances
  6. Analyse variances in conjunction with relevant experts to determine cause and effect
  7. Take swift remedial action to minimise negative impact and maximise benefits
  8. Renegotiate/restructure budgets and plans where necessary to optimise organisational performance
Confirm delegations and budget accountabilities in writing prior to budget period

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Allocate funds according to budget objectives and parameters

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Review recording systems and documentation to ensure they meet audit requirements and legal obligations

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Implement risk management plans and contingency plans for all financial plans

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Monitor performance and promptly identify variances

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Analyse variances in conjunction with relevant experts to determine cause and effect

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Take swift remedial action to minimise negative impact and maximise benefits

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Renegotiate/restructure budgets and plans where necessary to optimise organisational performance

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Report outcomes of financial plans

  1. Maintain records of financial performance in organisational systems according to organisational policy and procedures
  2. Analyse and report financial performance in a form and language suited to audience
  3. Report non-financial objectives in the context of overall organisational performance
  4. Review and update strategies and plans to optimise organisational performance
Maintain records of financial performance in organisational systems according to organisational policy and procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Analyse and report financial performance in a form and language suited to audience

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Report non-financial objectives in the context of overall organisational performance

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Review and update strategies and plans to optimise organisational performance

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Required Skills and Knowledge