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Unit of competency details

AHCBUS506 - Develop and review a business plan (Release 1)

Summary

Usage recommendation:
Superseded
Mapping:
MappingNotesDate
Supersedes and is equivalent to AHCBUS506A - Develop and review a business planThis unit is equivalent to AHCBUS506A Develop and review a business plan 26/Jun/2016
Is superseded by and equivalent to AHCBUS516 - Develop and review a business planPerformance criteria clarified. Foundation skills added. Assessment requirements updated. 20/Oct/2019

Releases:
ReleaseRelease date
1 1 (this release) 27/Jun/2016

Companion volumes:
Unit of competency Assessment requirements

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Skill sets that include this unit

Classifications

SchemeCodeClassification value
ASCED Module/Unit of Competency Field of Education Identifier 080301 Business Management  

Classification history

SchemeCodeClassification valueStart dateEnd date
ASCED Module/Unit of Competency Field of Education Identifier 080301 Business Management  14/Oct/2016 
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Unit of competency

Modification History

Release

TP Version

Comment

1

AHCv1.0

Initial release

Application

This unit of competency describes the skills and knowledge required to develop and review a business plan.

This unit applies to those whose role is to set the short, medium or long term goals and targets for the business plan and may relate to marketing and production targets, resource and asset development and management, acquisitions, capital, property improvements, and operational systems.

All work must be carried out to comply with organisational requirements, work health and safety legislation and codes, sustainability practices and in consultation with the management team.

This unit applies to individuals who take personal responsibility and exercise autonomy in undertaking complex work. They must analyse information and exercise judgement to complete a range of advanced skilled activities.

No occupational licensing, legislative or certification requirements are known to apply to this unit at the time of publication.

Pre-requisite Unit

Nil.

Unit Sector

Business (BUS)

Elements and Performance Criteria

Element

Performance criteria

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1. Determine scope of business plan

1.1 Determine scope of the business plan and associated systems in consultation with key and specialist personnel

1.2 Access information to inform business plan development

1.3 Account for and incorporate trends and seasonal variations

1.4 Account for strategic goals, targets and directions of the enterprise

1.5 Ensure legal obligations are understood and compliance requirements identified

2. Prepare business plan

2.1 Develop operational goals and targets that enhance opportunities to meet the enterprise strategic plan

2.2 Ensure indicators of operational performance are clear and measurable and allow for realistic analysis of performance

2.3 Identify and include resource requirements and input supply chain options

2.4 Identify and incorporate human resource strategies

2.5 Identify and incorporate marketing strategies

2.6 Identify risks for the business and develop minimisation strategies

2.7 Identify mechanisms to test budgetary impact and operational potential before implementation

3. Document and review business plan

3.1 Include financial and operational systems that enhance performance management and suit enterprise requirements

3.2 Document and communicate business plan to relevant parties

3.3 Monitor performance against the business plan to identify strengths, weaknesses and areas for improvement

3.4 Make recommendations to improve the business plan and associated systems

Foundation Skills

Foundation Skills essential to performance are explicit in the performance criteria of this unit of competency.

Range of Conditions

Unit Mapping Information

This unit is equivalent to AHCBUS506A Develop and review a business plan.

Links

Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=c6399549-9c62-4a5e-bf1a-524b2322cf72

 

Assessment requirements

Modification History

Release

TP Version

Comment

1

AHCv1.0

Initial release

Performance Evidence

The candidate must be assessed on their ability to integrate and apply the performance requirements of this unit in a workplace setting. Performance must be demonstrated consistently over time and in a suitable range of contexts.

The candidate must provide evidence that they can:

  • set strategic goals, targets and directions for the enterprise
  • determine clear and measurable indicators of operational performance
  • identify and design risk management and mitigation strategies
  • develop appropriate operational plans
  • document the business plan
  • monitor the business plan to identify strengths, weaknesses and areas for improvement
  • analyse information and results.

Knowledge Evidence

The candidate must demonstrate knowledge of:

  • budgeting
  • business forecasting
  • relevant industrial awards and agreements
  • communication techniques
  • risk management factors and priorities
  • marketing strategies
  • indicators of operational performance
  • financial and operational systems and resource considerations relevant to business planning
  • logical and analytic methods
  • profit and loss and cash flow systems
  • industrial relations, taxation, corporate and industry legislation, environmental and work health and safety legislation as they relate to the enterprise
  • capital investment analysis.

Assessment Conditions

Competency is to be assessed in the workplace or simulated environment that accurately reflects performance in a real workplace setting.

Assessors must satisfy current standards for RTOs.

Links

Companion Volume implementation guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=c6399549-9c62-4a5e-bf1a-524b2322cf72

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