Elements and Performance Criteria

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 in the performance criteria is detailed below. Add any 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.
Clients may include:
financial institutions
fund managers
individuals
internal and external property groups
investment organisations.
Organisational requirements may be outlined and reflected in:
access and equity principles and practice guidelines
business and performance plans
complaint and dispute resolution procedures
goals, objectives, plans, systems and processes
legal and ethical requirements and codes of practice
mission statements and strategic plans
OHS policies, procedures and programs
policies and procedures in relation to client service
quality and continuous improvement processes and standards
quality assurance and procedure manuals.
Relevant people may include:
accountants
agents
clients
government personnel
interested parties
legal representatives
management and colleagues
members of industry associations
taxation specialists.
Relevant documentation may relate to:
building codes
current and planned property or site developments
deposited, survey and other plans and maps
depreciation schedules
land title and zoning
leasing rates
legal status
management policy and procedures
marketing services
permits
rates notices
sales information
taxation papers
tenancy and other contracts or leases.
Legislative requirements may be outlined and reflected in:
Australian standards
general duty of care to clients
home building requirements
privacy requirements
relevant federal, and state or territory legislation that affects organisational operation, including:
anti-discrimination and diversity
environmental issues
EEO
industrial relations
OHS
relevant industry codes of practice covering the market sector and industry, financial transactions, taxation, environment, construction, land use, native title, zoning, utilities use (water, gas and electricity), and contract or common law
strata, community and company titles
tenancy agreements
trade practices laws and guidelines.
Specialist advice may be sought from:
architects
bankers and financiers
developers
land economists
members of industry associations
planners
solicitors
taxation and accounting practitioners
valuers.
Sources of information may include:
consultants
industry and organisational databases
information services
press clippings
published industry data, including industry indices
third parties
trade journals.
Analysis may include:
computer modelling
examination of cash flows and other financial projections
examination of collected data
quantitative and qualitative analysis
probability analysis
time series recognition.
Communication techniques may include:
active listening
clear presentation of options
consultation methods
culturally inclusive and sensitive engagement techniques
questioning to clarify and confirm understanding
seeking feedback
two-way interaction
using language and concepts appropriate to cultural differences
verbal or non-verbal language.
Environment may relate to:
competitors
environmental issues, such as water, noise and air
financial markets
leasing and tenanting arrangements or prospects
market share
neighbours
property stakeholders
situational issues
size, location and nature of property
stability of property, industry and market.
Comparative market data may include:
best practice information
national and international benchmarking
inter-organisation comparison data.
Risk factors that may influence the complexity of the feasibility study may include:
constraints on use
existing land use and ownership
government zoning and restrictions
project financing
staging of investment or development
structure of leases
type and number of tenants.
Contingencies may relate to:
budget constraints
building delays
competing work demands of contractor
environmental factors, such as time and weather
industrial disputes
non-availability of resources and materials
public holidays and shut-down periods
equipment and technology breakdown
unforeseen incidents
workplace hazards, risks and controls.
Consultative processes may include:
face-to-face meetings
telephone, facsimile and written communication.
Benchmarks may include:
building operational costs
business strategy parameters
economic parameters
financial constraints
historical operational costs
industry published building occupation data
market expectations
research data
statutory costs.
Market conditions may relate to:
availability of alternatives
business confidence
economic conditions
level of competition.
Business equipment and technology may include:
computers
data storage devices
email
facsimile machines
internet, extranet and intranet
photocopiers
printers
scanners
software applications, such as databases and word applications.

EVIDENCE GUIDE
The evidence guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, the range statement and the Assessment Guidelines for this Training Package.
Overview of assessment
This unit of competency could be assessed through practical demonstration of contributing to a formal property feasibility study. Targeted written (including alternative formats where necessary) or verbal questioning to assess the candidate's underpinning knowledge would provide additional supporting evidence of competence. The demonstration and questioning would include collecting evidence of the candidate's knowledge and application of ethical standards and relevant federal, and state or territory legislation and regulations. This assessment may be carried out in a simulated or workplace environment.
Critical aspects for assessment and evidence required to demonstrate competency in this unit
A person who demonstrates competency in this unit must be able to provide evidence of:
analysing market information to identify economic trends and market developments, as well as risk and contingency factors
consulting with relevant people and sourcing documentation and relevant legislation to establish study aims and objectives
documenting and presenting feasibility study using appropriate business equipment and technology
formulating sensitivity scenarios against industry benchmarks
knowledge of organisation's practices, ethical standards and legislative requirements associated with property feasibility studies
sourcing market and environmental information to identify factors affecting study.
Context of and specific resources for assessment
Resource implications for assessment include:
a registered provider of assessment services
assessment materials and tools
candidate special requirements
competency standards
cost and time considerations
suitable assessment venue and equipment
workplace documentation.
Where applicable, physical resources should include equipment modified for people with disabilities.
Access must be provided to appropriate learning and/or assessment support when required.
Assessment processes and techniques must be culturally appropriate, and appropriate to the language and literacy capacity of the candidate and the work being performed.
Validity and sufficiency of evidence require that:
competency will need to be demonstrated over a period of time reflecting the scope of the role and the practical requirements of the workplace
where the assessment is part of a structured learning experience the evidence collected must relate to a number of performances assessed at different points in time and separated by further learning and practice with a decision of competence only taken at the point when the assessor has complete confidence in the person's competence
all assessment that is part of a structured learning experience must include a combination of direct, indirect and supplementary evidence

where assessment is for the purpose of recognition (RCC/RPL), the evidence provided will need to be current and show that it represents competency demonstrated over a period of time
assessment can be through simulated project-based activity and must include evidence relating to each of the elements in this unit.
In all cases activity and must include evidence relating to each of the where practical assessment is used it will be combined with targeted questioning to assess the underpinning knowledge. Questioning will be undertaken in such a manner as is appropriate to the language and literacy levels of the candidate and any cultural issues that may affect responses to the questions, and will reflect the requirements of the competency and the work being performed.