Unit of competency Outline

Date retreived
22/07/2026 5:09 PM AWST

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Manage business resources

Manage business resources

Unit of competency
National Code
BSBOPS501
State Code
OCF07
TGA Status
Current
DTWD Status
Approved
Current Release Number
1.00
Current Release Date
19/10/2020
View on TGA
State Implementation and Classification
Approved Date
16/03/2021
Field of Education
080301 - Business Management
Original Release Date
16/03/2021
Nominal Hours
70
Description
This unit describes the skills and knowledge required to manage resources according to planned business strategies. It includes analysing resource requirements, developing resource plans, allocating resources, and reviewing and reporting on resource usage.The unit applies to individuals with a role in allocating and monitoring the use of physical and/or human resources to meet defined business objectives.No licensing, legislative or certification requirements apply to this unit at the time of publication.
Notes
Elements and Performance Criteria
1. Analyse resource requirements
  • 1.1 Develop resource bids according to required outputs specified in business plans
  • 1.2 Consult with relevant stakeholders and determine the nature and level of resources required
  • 1.3 Analyse resource requirements and identify proposed costs and benefits
  • 1.4 Identify opportunities to share resources across business units within the organisation
2. Develop resource plans
  • 2.1 Determine internal resourcing capabilities and external resourcing requirements
  • 2.2 Develop procedures for the evaluation of resource allocation and incorporate them in resource plans
  • 2.3 Identify risks and establish risk management processes
  • 2.4 Obtain required approvals from relevant personnel
3. Allocate resources
  • 3.1 Identify and adhere to organisational policies and procedures for resource allocation
  • 3.2 Manage resource allocation according to business unit objectives
  • 3.3 Negotiate and obtain resources within required timeframe according to business unit objectives
  • 3.4 Develop and implement systems for monitoring resource usage
4. Review and report on resource usage
  • 4.1 Develop and implement procedures to review resource allocation against business unit objectives
  • 4.2 Suggest improvements to work practices for the efficient use of resources
  • 4.3 Monitor compliance with program and project budgets and take corrective action where necessary
  • 4.4 Prepare report that indicates the level of performance achieved and any action taken to adjust or rectify procedures in meeting service and product delivery standards
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