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Evidence Guide: MSTGN6012 - Evaluate commercial viability of products

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

 

MSTGN6012 - Evaluate commercial viability of products

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

Prepare to evaluate commercial viability

  1. Analyse current business plan and identify business objectives and financial targets to review business position
  2. Review business practices, past products and records of commercial success to assess relevance for future developments
  3. Identify workplace criteria for measuring commercial success of products
  4. Identify potential products and assess their ability to meet client or target market needs and expectations
  5. Analyse costing and production strategies and assess alignment of products to business goals and practices
Analyse current business plan and identify business objectives and financial targets to review business position

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Review business practices, past products and records of commercial success to assess relevance for future developments

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify workplace criteria for measuring commercial success of products

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Identify potential products and assess their ability to meet client or target market needs and expectations

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Analyse costing and production strategies and assess alignment of products to business goals and practices

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Select products for commercial development

  1. Identify workplace criteria for selection of products
  2. Analyse products against selection criteria
  3. Consult with senior management in the selection process, providing evidence-based information to aid decision-making
  4. Determine which products will be developed based on analysis and consultation
Identify workplace criteria for selection of products

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Analyse products against selection criteria

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Consult with senior management in the selection process, providing evidence-based information to aid decision-making

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Determine which products will be developed based on analysis and consultation

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Establish evaluation mechanism

  1. Establish financial targets for product development
  2. Implement monitoring systems to measure progress of production and return
  3. Evaluate product selection against commercial targets
  4. Document findings in accordance with workplace procedures
Establish financial targets for product development

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Implement monitoring systems to measure progress of production and return

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Evaluate product selection against commercial targets

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Document findings in accordance with workplace procedures

Completed
Date:

Teacher:		 Evidence:

 

 

 

 

 

 

 

Assessed

Teacher: ___________________________________ Date: _________

Signature: ________________________________________________

Comments:

 

 

 

 

 

 

 

 

Instructions to Assessors

Required Skills and Knowledge