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Unit of competency details

BSBPMG816 - Manage portfolio resources (Release 1)

Summary

Usage recommendation:
Current
Mapping:
MappingNotesDate
Supersedes and is equivalent to BSBPMG807 - Manage portfolio resources 18/Oct/2020

Release Status:
Current
Releases:
ReleaseRelease date
1 1 (this release) 19/Oct/2020

Companion volumes:
Unit of competency Assessment requirements

Delivery:
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Training packages that include this unit

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Classifications

SchemeCodeClassification value
ASCED Module/Unit of Competency Field of Education Identifier 080399 Business And Management, N.e.c.  

Classification history

SchemeCodeClassification valueStart dateEnd date
ASCED Module/Unit of Competency Field of Education Identifier 080399 Business And Management, N.e.c.  19/Oct/2020 
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Unit of competency

Modification History

Release  

Comments  

Release 1

This version first released with BSB Business Services Training Package Version 7.0.

Application

This unit describes the skills and knowledge required to manage human resources within a portfolio. It covers capacity planning, capacity assessment, assignment and coordination of human resources for a portfolio.

A portfolio is the centralised management of one or more portfolios of projects, which includes identifying, prioritising, authorising, managing and controlling projects, programs and other related work, to achieve specific strategic business objectives.

The unit applies to individuals who operate at the strategic level within the organisation. Unlike projects or programs, a portfolio does not have a finite life, instead it is a continuous process and requires regular tending to ensure the portfolio remains in balance and is consistent with the strategic objectives of the organisation.

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

Unit Sector

Business Competence – Project Management

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. Assess portfolio resources capacity

1.1 Identify project and program resources based on resource forecasts

1.2 Capture a baseline of existing and proposed resources

1.3 Review, identify and assess the resource capacity of the organisation according to task requirements

1.4 Develop, review and update a portfolio resource strategy based on the status of projects and programs in the portfolio

2. Assess skills and experience

2.1 Capture and maintain details of human resource skill sets and experience

2.2 Capture and maintain human resource availability and utilisation information

2.3 Highlight human resource deficiencies and strengths and factor these into the organisational workforce and development plans

2.4 Implement strategies to resolve human resource deficiencies and imbalances

2.5 Assess readiness for change and identify impacts of change

3. Assign project and program resources

3.1 Allocate resources optimally based on organisational strategic priority of projects and programs within the portfolio

3.2 Forecast the impact on the organisation of project and program resource allocation and utilisation against plans

3.3 Identify and investigate resource gaps and conflicts

3.4 Take appropriate action to resolve the identified resource constraints according to organisational strategic priorities

4. Coordinate and prioritise resources

4.1 Coordinate cross-organisational resource assignment to support prioritised projects and programs

4.2 Reallocate resources from projects/programs cancelled or put on hold

Foundation Skills

This section describes language, literacy, numeracy and employment skills incorporated in the performance criteria that are required for competent performance.

SKILL 

DESCRIPTION 

Reading
  • Applies appropriate strategies to construct meaning from complex texts

Writing
  • Demonstrates sophisticated writing skills by selecting appropriate conventions and stylistic devices to express precise meaning

Numeracy
  • Identifies numerical information to determine resource requirements, assignments and reallocations

Self-management

  • Identifies the relationship of own activities to organisational strategic goals

Planning and organising

  • Develops and implements flexible plans for complex, high impact activities with strategic implications
  • Prioritises and schedules complex activities, monitors implementation and makes changes to plans where required
  • Uses problem-solving processes to identify and analyse program resource issues, and decide on appropriate response

Unit Mapping Information

Supersedes and is equivalent to BSBPMG807 Manage portfolio resources.

Links

Companion Volume Implementation Guide is found on VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=11ef6853-ceed-4ba7-9d87-4da407e23c10

 

Assessment requirements

Modification History

Release  

Comments  

Release 1

This version first released with BSB Business Services Training Package Version 7.0.

Performance Evidence

The candidate must demonstrate the ability to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including evidence of the ability to:

  • manage portfolio resources on at least one occasion.

In the course of the above, the candidate must:

  • undertake skills assessment and identify solutions
  • optimise human resource allocation across projects and programs
  • prepare resource utilisation calculations from collection techniques.

Knowledge Evidence

The candidate must be able to demonstrate knowledge to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including knowledge of:

  • human resource allocation models
  • strategic human resource management approaches
  • factors for consideration in a review and a portfolio strategy update, including considering the organisations resource constraints
  • requirements to coordinate cross-organisational resource assignment including:
  • risk requirements
  • quality requirements
  • calculation and distribution based on supply and demand concepts
  • workforce planning methods
  • the application of strategic resource management and planning.

Assessment Conditions

Skills in this unit must be demonstrated in a workplace or simulated environment where the conditions are typical of those in a working environment in this industry.

This includes access to:

  • workplace documentation and resources relevant to performance evidence
  • feedback from stakeholders, which reflects how human resources were managed within the portfolio.

Assessors of this unit must satisfy the requirements for assessors in applicable vocational education and training legislation, frameworks and/or standards.

Links

Companion Volume Implementation Guide is found on VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=11ef6853-ceed-4ba7-9d87-4da407e23c10

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