Modification History
Not applicable.
Unit Descriptor
Unit descriptor |
This unit specifies the outcomes required to assess the economic impact of a design, recording its marketability, volume potential and competition. |
Application of the Unit
Application of the unit |
This unit supports the attainment of skills and knowledge required for competent workplace performance in furnishing operations of all sizes. Assessing the economic impact of a design applies to an industry workplace or design studio environment and involves application of skills and knowledge at a managerial level. These skills and knowledge are to be used within the scope of the individual's job and authority. This unit includes employability skills in planning and organising and problem solving to determine economic factors and impacts of a design. Communication skills are used to assess information, complete documentation and undertake calculations. |
Licensing/Regulatory Information
Not applicable.
Pre-Requisites
Prerequisite units |
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Employability Skills Information
Employability skills |
This unit contains employability skills. |
Elements and Performance Criteria Pre-Content
Elements describe the essential outcomes of a unit of competency. |
Performance Criteria describe the required performance needed to demonstrate achievement of the Element. Where bold italicised text is used, further information is detailed in the required skills and knowledge and/or the Range Statement. Assessment of performance is to be consistent with the Evidence Guide. |
Elements and Performance Criteria
ELEMENT |
PERFORMANCE CRITERIA |
1. Research economic factors |
1.1. Applicable OHS , legislative and organisational requirements relevant to assessing the economic impact of a design are verified and complied with 1.2. Design brief is reviewed, confirmed and clarified with appropriate personnel 1.3. Communication with others is established and maintained in accordance with OHS requirements 1.4. Market research fundamentals are considered and analysed 1.5. Potential sales volume of designed products are analysed and evaluated 1.6. Niche markets are discovered and analysed for cost benefit analysis |
2. Assess the economic impact of the design |
2.1. Production costs of a design are assessed and evaluated 2.2. Longitudinal studies of a design are undertaken to explore potential success factors 2.3. Scale of production is estimated taking into account market analysis 2.4. Profit margins are analysed based on expected turnover, full costing of product, price point in the market and demand for the product 2.5. Competition in the market place with similar design solutions or products in that market segment are analysed and strategies reviewed 2.6. Availability of resources is assessed to ascertain what impact this will have on economic viability 2.7. Product lifecycle analysis is evaluated for economic significance 2.8. Long term economic impact on the business, staff and associated suppliers is analysed and strategised 2.9. Intended manufacturing processes including assembly and finishing are assessed for their economic impact 2.10. Final documentation outlining the full analysis of the designs economic impact is compiled and produced as a report |
Required Skills and Knowledge
REQUIRED SKILLS AND KNOWLEDGE |
This describes the essential skills and knowledge and their level, required for this unit. |
Required skills |
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Required knowledge |
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Evidence Guide
EVIDENCE GUIDE |
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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 the relevant 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 |
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Context of , and specific resources for assessment |
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Method of assessment |
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Guidance information for assessment |
Range Statement
RANGE STATEMENT |
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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. |
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OHS requirements |
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Legislative requirements |
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Organisational requirements |
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Design brief |
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Appropriate personnel |
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Communication |
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Market research fundamentals |
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Sales volume |
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Niche markets |
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Cost benefit analysis |
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Longitudinal studies |
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Profit margins |
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Price point |
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Resources |
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Product lifecycle |
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Economic impact |
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Manufacturing process |
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Assembly methods |
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Finishing |
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Unit Sector(s)
Unit sector |
Furniture design and technology. |
Competency field
Competency field |
Co-requisite units
Co-requisite units |
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