Unit of competency Outline

Date retreived
23/07/2026 3:22 PM AWST

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Apply cost factors to work practices

Apply cost factors to work practices

Unit of competency
National Code
MSS402087
State Code
OEQ87
TGA Status
Current
DTWD Status
Approved
Current Release Number
1.00
Current Release Date
16/12/2022
View on TGA
State Implementation and Classification
Approved Date
03/05/2023
Field of Education
080301 - Business Management
Original Release Date
03/05/2023
Nominal Hours
35
Description
This unit describes the skills and knowledge required to identify cost components in work practices and determine the broad cost impacts of alternative actions.This unit applies to personnel who are required to identify and compare the costs of alternatives and apply this in making decisions within own scope of responsibility. Typically the decisions will contribute to efficient organisation of own work and/or improvement to production time and cycle times. This unit applies to any organisation. No licensing or certification requirements exist at the time of publication. Relevant legislation, industry standards and codes of practice within Australia must be applied.
Notes
Elements and Performance Criteria
1. Identify the major cost components of process, product or service in own work area
  • 1.1 Identify cost components in process, product or service in own work area
  • 1.2 Identify alternative actions and related cost components
  • 1.3 Identify impact of current and alternative actions on costs
2. Identify constraints to cost efficiency
  • 2.1 Identify required production or process rate and major costs
  • 2.2 Identify costs factors that can and cannot be controlled by individual or team
  • 2.3 Relate identified costs factors to impact on overall cost of production or process
  • 2.4 Identify cost factors that are constraint to cost efficiency in own work area
3. Apply cost efficient work practices
  • 3.1 Identify changes to improve cost efficiency
  • 3.2 Explain to relevant people implications of changes, using simple financial terms
  • 3.3 Discuss changes with relevant people to identify positive and negative non-financial implications and determine acceptable negative impact
  • 3.4 Select actions which minimise overall costs within acceptable negative impact
  • 3.5 Monitor actions to ensure cost efficiency in own work area is maintained
No information
No information
Replaces
State Code National Code Title Type
OAF04 MSS402082 Apply cost factors to work practices Unit of competency