Elements and Performance Criteria

The Range Statement provides information about the context in which the unit of competency is carried out. The variables cater for differences between States and Territories and the Commonwealth, and between organisations and workplaces. They allow for different work requirements, work practices and knowledge. The Range Statement also provides a focus for assessment. It relates to the unit as a whole. Text in bold italics in the Performance Criteria is explained here.
Internal issuesmay include:
public sector and departmental policies and priorities
specific government initiatives
linkage to existing strategic, corporate or business plans
information technology
human resources and industrial relations
historical performance
External issuesmay include:
government policies and priorities
economic climate and forecasts
federal and other government policy and legislation
political/community views
service demand assessments
demographics
technological developments
Stakeholders may include:
Parliament
community groups
executive or central agencies
clients
other agencies and government entities
staff
Analysis may include:
situation analysis
strengths, weaknesses, opportunities, threats (SWOT)
economic analysis
Assessment may include:
forecasting
sensitivity testing
cost-benefit analysis
Resource positionmay include consideration of:
cash flow patterns and financial position
physical asset requirements and maintenance
debt/equity structure
human resource and organisational issues
extent and timing of liabilities including contingencies
taxation requirements
return on investment
Policies and proceduresmay include:
financial management Acts and regulations
financial administration and audit Acts
public sector finance standards
Treasury guidelines
financial management benchmarking studies
the organisation's:
financial management
delegations
budget guidelines/instructions
style requirements
quality requirements
government financial policy statements and guidelines
Australian Accounting Standards
Generally Accepted Accounting Practices (GAAP)
Australian Bureau of Statistics (ABS) requirements
Government Finance Statistics (GFS) requirements
corporate planning
whole-of-government/agency systems and reporting
Alternative resourcing strategiesmay include consideration of:
outsourcing
right-sizing
reorganisation
amalgamation
user charging
revenue generation
commercialisation
corporatisation
competitive service delivery
strategic alliances/partnering
Financial evaluation techniqueswill vary depending on the nature of the strategy but may include:
cash flow forecasts
accrual-based financial statement forecasts
net present value calculations
activity-based costing
economic value added analysis
cost-benefit analysis
internal rates of return
benchmarking of services
program evaluations
Financial sensitivity testingmay require consideration of possible variations in:
service output levels
economic, regulatory and technological factors impacting on the agency's operations that may include:
program variations
changing risk profiles
cash flow impacts
tax effects

The Evidence Guide specifies the evidence required to demonstrate achievement in the unit of competency as a whole. It must be read in conjunction with the Unit descriptor, Performance Criteria, the Range Statement and the Assessment Guidelines for the Public Sector Training Package.
Units to be assessed together
Pre-requisite units that must be achieved prior to this unit:Nil
Co-requisite units that must be assessed with this unit:Nil
Co-assessed units that may be assessed with this unit to increase the efficiency and realism of the assessment process include, but are not limited to:
PSPETHC601B Maintain and enhance confidence in public service
PSPLEGN601B Manage compliance with legislation in the public sector
PSPMNGT602B Manage resources
PSPMNGT608B Manage risk
PSPMNGT609B Formulate business strategies
Overview of evidence requirements
In addition to integrated demonstration of the elements and their related performance criteria, look for evidence that confirms:
the knowledge requirements of this unit
the skill requirements of this unit
application of the Employability Skills as they relate to this unit (see Employability Summaries in Qualifications Framework)
strategic financial analysis undertaken in a range of (2 or more) contexts (or occasions, over time)
Resources required to carry out assessment
These resources include:
public sector and organisational financial procedures and protocols
case studies and scenarios that provide organisational information for analysis
financial legislation and guidelines, such as central agency guidelines
Where and how to assess evidence
Valid assessment of this unit requires:
a workplace environment or one that closely resembles normal work practice and replicates the range of conditions likely to be encountered when undertaking strategic financial analysis, including coping with difficulties, irregularities and breakdowns in routine
strategic financial analysis undertaken in a range of (3 or more) contexts (or occasions, over time)
Assessment methods should reflect workplace demands, such as literacy, and the needs of particular groups, such as:
people with disabilities
people from culturally and linguistically diverse backgrounds
Aboriginal and Torres Strait Islander people
women
young people
older people
people in rural and remote locations
Assessment methods suitable for valid and reliable assessment of this competency may include, but are not limited to, a combination of 2 or more of:
case studies
portfolios
projects
questioning
scenarios
authenticated evidence from the workplace and/or training courses
For consistency of assessment
Evidence must be gathered over time in a range of contexts to ensure the person can achieve the unit outcome and apply the competency in different situations or environments