Modification History
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CUVFIM401A |
This version first released with CUV11 Visual Arts, Craft and Design Training Package version 1.0 |
Unit Descriptor
This unit describes the performance outcomes, skills and knowledge required to set revenue-raising goals, identify possible sources of revenue, and to proactively work to secure revenue to support work operations.
Application of the Unit
A sole practitioner, small business person, or a manager or senior administrator in a larger organisation could apply the skills and knowledge outlined in this unit.
Revenue could be raised from corporate sponsorship, grants from philanthropic trusts or government agencies, or through more commercial approaches, such as advertising and promotion.
Although work at this level is largely independent, some supervision and guidance would be provided as required
Licensing/Regulatory Information
No licensing, legislative, regulatory or certification requirements apply to this unit at the time of endorsement.
Pre-Requisites
Not applicable.
Employability Skills Information
This unit contains employability skills.
Elements and Performance Criteria Pre-Content
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Element |
Performance Criteria |
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Elements describe the essential outcomes of a unit of competency. |
Performance criteria describe the performance needed to demonstrate achievement of the element. Where bold italicised text is used, further information is detailed in the required skills and knowledge section and the range statement. Assessment of performance is to be consistent with the evidence guide. |
Elements and Performance Criteria
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1. Set revenue-raising goals |
1.1 Identify potential revenue sources from a range of information sources 1.2 Identify factors that may affect the suitability of potential revenue sources 1.3 Evaluate suitability of revenue sources in relation to the organisation’s overall vision 1.4 Identify revenue-raising priorities in line with current direction and vision in consultation with relevant people 1.5 Reach agreement on how and from which sources revenue will be raised as required |
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2. Implement revenue-raising strategies |
2.1 Identify processes to follow to access potential revenue sources 2.2 Establish and maintain relationships with potential revenue sources 2.3 Build positive relationships with key stakeholders who can provide support 2.4 In a timely manner, assign resources required to raise revenue 2.5 Negotiate with representatives from revenue sources to clarify terms and conditions of funding agreement 2.6 Discuss funding agreement with all parties in a professional manner |
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3. Evaluate revenue-raising strategies |
3.1 Monitor all arrangements to ensure compliance with funding requirements 3.2 Review the impact of funding on the organisation 3.3 Review priorities and revenue-raising strategies and amend as required |
Required Skills and Knowledge
This section describes the skills and knowledge required for this unit.
Required skills
- communication skills to:
- discuss revenue-raising issues with colleagues
- communicate effectively with a range of stakeholders
- conduct negotiations to clarify terms and conditions of funding agreements
- establish and maintain relationships with representatives from funding bodies/revenue sources
- initiative and enterprise to:
- identify revenue sources that best suit the organisation’s profile and vision
- anticipate and manage risks associated with obtaining revenue
- numeracy skills to interpret organisational financial reports and budget documents
- planning and organising skills to plan and implement approaches to revenue sources in a timely and logical manner
- research skills to obtain necessary background information to assist with the identification of potential revenue sources
- self-management skills to work within specified timelines
- technology skills to:
- use a range of office equipment and software to produce documents and reports
- use the internet as a research tool.
Required knowledge
- typical avenues through which revenue can be raised in the relevant industry content, including:
- government departments
- industry
- private sector
- methods used by similar organisations to generate revenue
- emerging trends and different models for revenue-raising activities
- issues and challenges that typically arise in the context of revenue raising
- general business requirements associated with revenue and funding sources, including audit accounting and legal issues.
Evidence Guide
The evidence guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.
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Overview of assessment |
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Critical aspects for assessment and evidence required to demonstrate competency in this unit |
Evidence of the ability to:
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Context of and specific resources for assessment |
Assessment must ensure access to:
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Method of assessment |
A range of assessment methods should be used to assess practical skills and knowledge. The following examples are appropriate for this unit:
Assessment methods should closely reflect workplace demands and the needs of particular groups (e.g. people with disabilities, and people who may have literacy or numeracy difficulties, such as speakers of languages other than English, remote communities and those with interrupted schooling). |
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Guidance information for assessment |
Holistic assessment with other units relevant to the industry sector, workplace and job role is recommended, for example:
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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, if used in the performance criteria, is detailed below. 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) may also be included.
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Revenue sources may include: |
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Information sources may include: |
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Factors may include: |
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Priorities may be determined through consideration of: |
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Relevant people may include: |
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Processes may include: |
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Ways to build positive relationships may include: |
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Funding agreement may include: |
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Impact may relate to: |
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Unit Sector(s)
Finance – financial management
