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.
Sources of information may include:
educational institutions
government agencies
industry associations
market analysts
property reports.
Business opportunities may relate to:
property development
property management
property sales.
Business goals may include:
goals, objectives, plans, systems and processes
short, medium or long-term goals
financial projections
customer needs and marketing projections
proposed size and scale of the business
market focus of the business
lifestyle issues.
Business plan may include:
business opportunities
details of ownership and management
financial details, including:
balance sheet and cash flow forecast
capital expenditure and its timing
stock turnover
creditor payment period
debtor collection period
expected level of inflation and taxation
expected trend of interest rate
expenditure statement
level of risk involved
projections for the initial years of operation
assumptions underlying the business plan
return on investment
risk assessment and management
market focus of the agency
marketing requirements
need to raise finance and requirements of lenders
organisation and operational arrangements
proposed size and scale of the agency
recognition of any seasonal or cyclical (time-based) elements that are crucial to the success of the agency
resources required and available
sources of funding
specialist services and sources of advice that may be required
staffing
stages in the business development.

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 case studies, demonstrations and practical exercises of strategic business planning in an agency context. 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. 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:
identifying business opportunities in the property market
documenting agency business strategies
establishing the potential demand for agency services
establishing business goals and objectives for agency
knowledge of ethical and legislative requirements associated with agency business planning
reviewing agency business strategies.
Context of and specific resources for assessment
Resource implications for assessment include:
access to suitable simulated or real opportunities and resources to demonstrate competence
assessment instruments that may include personal planner and assessment record book
access to a registered provider of assessment services.
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 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.