Elements and Performance Criteria

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.
Market may include:
local
national
regional
international.
Research may be carried out using:
electronic media, e.g. database, intranet, virtual private network, ultranet, internet
print media, e.g. newspapers, annual reports, ABS reports
visual media, e.g. videos, television news.
Market conditions may vary according to:
demographics
economics
competition
social and cultural factors
political influences
legal factors
natural factors
technology.
Sources of information may include:
contacts with others inside or outside the business
customers
staff
publications
business journals
newspapers
conferences and courses
internet
statistics
observation
market research.
Documents and records may include:
contact history
purchase requests and orders
tender submissions and proposals
invoices and payment requests
statements and petty cash vouchers
offer and contract documents
evaluation process documentation
records of authorised officers' decisions
corporate credit card transaction statements
records of supplier performance
financial statements
asset registers
records of conversation.
Customers may include:
new and existing customers
internal or external customers
business customers or individuals
people from a range of social, cultural and ethnic backgrounds and with varying physical and mental abilities
customers with routine or special needs.
Business plans may include:
sales
marketing
strategic
business
purchasing and procurement
disposal
human resource
public relations
contingency
risk management
environmental.
Evaluate a business opportunity may include:
stakeholder consultation
development of a business case
modelling results
cost-benefit analysis
data analysis
comparison of internal versus outsourced provision
whether to buy or lease.
Non-revenue advantages for business may include:
increased market share
strategic objectives met
positive brand value
performance benchmarks achieved.
Relevant situational factors affecting business opportunities may include:
market trends
Australian and international standards
industry standards
performance indicators
quality measures and criteria
planning milestones and timeframes
design brief
approval processes
manufacturer and supplier standards.
Business policy and procedures may relate to:
strategic planning
job role and responsibilities
approval processes.

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.
Critical aspects for assessment and evidence required to demonstrate competency in this unit
Evidence of the following is essential:
performs quality investigative research on a range of business opportunities
produces concise evaluative and analytic reports on a range of business opportunities
advocates and secures support for business opportunities
accurately reports on return on investment or other advantages to be secured through a business opportunity
assesses and reports on success of realised business opportunities.
Context of and specific resources for assessment
Assessment must ensure access to:
a real or simulated work environment
relevant documentation, such as:
business policy and procedures manuals
product or service information
strategic plans
business mission statement
information on the internal and external operating environment
a market.
Methods of assessment
A range of assessment methods should be used to assess practical skills and knowledge. The following examples are appropriate for this unit:
observation of the candidate in the workplace
third-party reports from a supervisor
a detailed case study
written or verbal questioning to assess knowledge and understanding
review of portfolios of evidence and third-party workplace reports of on-the-job performance.
Guidance information for assessment
Holistic assessment with other units relevant to the industry sector, workplace and job role is recommended.