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.
Portfolio performance may relate to:
concepts and plans
customer service outcomes
productive use of property and assets
strategies and placement of capital in property for investment.
Clients may include:
developers
financial institutions
fund managers
internal and external property groups
investment organisations
joint ventures
owner-occupiers
partners
unit trustees.
Relevant people may include:
accountants
analysts
clients

government personnel
legal representatives
management and colleagues
members of industry associations
supervisors
taxation specialists.
Client needs and expectations may relate to:
immediate capital gains
long-term capital gains.
Risk may relate to:
access restrictions on property
borrowing risk
gearing
market and property sector risks, including:
fluctuations in economic cycle
interest rates
stock market
risk factors and return expectations
specific property risk
volatility of income and capital.
Industry benchmarks may include:
discounted cash flow
employment rates
industry association performance index
inflation rate
internal rate of return
life cycle costing
published vacancy factors
tenancy mix.
Market conditions may be influenced by:
availability of alternatives
business confidence
economic conditions
level of competition.
Performance of portfolio may be influenced by:
capacity to improve assets
capital growth versus short-term gain
cash flows
change to organisational structure
demographics
gearing possibilities
geographic aspects
limits to financial resources
return on investment
return versus risk
taxation considerations
type of property or facility.
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.
Organisational requirements may be outlined and reflected in:
access and equity principles and practice guidelines
business and performance plans
complaint and dispute resolution procedures
emergency and evacuation procedures
employer and employee rights and responsibilities
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
policies and procedures relating to own role and responsibility
quality and continuous improvement processes and standards
quality assurance and procedure manuals
records and information systems and processes.
Asset life cycle is:
acquisition
disposal
operation and maintenance
planning for and establishing a new asset.
Class of assets in portfolio may include:
infrastructure
land
land and improvements
plant and equipment.
Asset information may be contained within:
business plans
comparative market data
depreciation schedules
financial documents
government statistics
marketing plans
property valuation statements
qualitative and quantitative data
reports and inventories
taxation records.
Strategic issues may relate to:
changes in return on investment expectations
political considerations
portfolio balance
the environment.
Evaluated refers to evaluation methods that could be qualitative or quantitative and may include:
checklists
cost data analysis
expert and peer review
interviews
observation
questionnaires
review of quality assurance data.
Reports may be:
accounting
advisory
financial.

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 planning the management of a property portfolio. 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:
assessing risk and identifying portfolio performance constraints through analysis of asset life cycle, class and use
conducting analysis of portfolio performance requirements against sourced market information and industry benchmarks
designing and documenting strategic plans for the review of the portfolio management system
determining client performance expectations through consultation and conducting research of relevant documentation and legislation
knowledge of organisation's practices, ethical standards and legislative requirements associated with planning and managing a property portfolio
preparing plans and reports on portfolio management and suggesting improvements through systematic review of portfolio management against set criteria.
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.