Unit of competency details

Unit descriptor 

This unit of competency specifies the outcomes required to identify and analyse potential threats and opportunities to ensure safe and effective property operations. It requires the ability to assess property systems and assets to determine the level of risk exposure and identify areas of opportunity.

The unit may form part of the licensing requirements for persons working in the property industry, including in the real estate, business broking, stock and station agency and property operations and development sectors, in those States and Territories where these are regulated activities.

Application of the unit 

This unit of competency supports the work of those involved in identifying and analysing potential threats and opportunities to ensure safe and effective property operations.

Prerequisite units 

Nil

Employability skills 

The required outcomes described in this unit of competency contain applicable facets of employability skills. The Employability Skills Summary of the qualification in which this unit of competency is packaged, will assist in identifying employability skills requirements.

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.

ELEMENT 

PERFORMANCE CRITERIA 

1 Identify risks and opportunities .

1.1 Information  on actual and potential risks  and opportunities  is collected and assessed for currency, accuracy and relevance according to organisational requirements .

1.2 Terms of reference  are determined in consultation with relevant people  and information is updated, modified and maintained according to organisational requirements.

1.3 Structured plan  for identifying and assessing likelihood of risk and opportunity is developed according to terms of reference and agreed timeframes.

1.4 Limitations  in identifying and assessing risks and opportunities are recognised and assistance is sought as required.

2 Analyse risks and opportunities .

2.1 Identified risks and opportunities are analysed  for validity and reliability according to organisational requirements.

2.2 Assessment criteria  for measuring level of potential or existing risk or opportunity, together with an assessment of consequences, are developed according to terms of reference.

2.3 Gaps in assessment methodology are identified and appropriate actions implemented according to organisational procedures.

2.4 Valid and relevant data is analysed against assessment criteria to determine level of potential risk or opportunity according to organisational procedures.

3 Document findings .

3.1 Risk and opportunity assessment findings  are documented and distributed to relevant people according to organisational requirements.

3.2 Feedback  on findings is actively sought to ensure accuracy and relevance of information.

3.3 Findings are updated as required and incorporated into risk and opportunity assessment plan for future management decision making.

3.4 Information is securely maintained with due regard to confidentiality, and organisational and legislative requirements .

REQUIRED SKILLS AND KNOWLEDGE 

This section describes the essential skills and knowledge and their level, required for this unit.

Required skills :

• communication skills to source feedback and use interviewing and questioning techniques to obtain information
• computing skills to access the internet and web pages, prepare and complete online forms, lodge electronic documents and search online databases
• interpersonal skills to relate to people from a range of social, cultural and ethnic backgrounds and varying physical and mental abilities
• organisational skills to plan time lines and reporting mechanisms, and record and file information
• observation skills to identify existing or potential risks and opportunities
• problem solving skills to apply reasoning and logical analysis to measure risk consequence and to recommend countermeasures or contingency plans
• research skills to collate feedback, analyse and interpret information and to form recommendations
• technical skills to complete risk assessment plans.

Required knowledge and understanding :

• client and organisational confidentiality requirements
• concept of litigation
• insurance policies, codes and operations
• mechanisms to obtain and analyse feedback
• organisational goals and objectives, activities and systems
• principles and techniques for identifying and measuring risks and opportunities
• property operations history and precedents regarding risk to operations and areas of opportunity
• relevant federal and state or territory legislation and local government regulations related to:

• anti-discrimination
• consumer protection
• environmental issues
• equal employment opportunity (EEO)
• financial probity
• franchise and business structures
• industrial relations
• OHS
• property sales, leasing and management

• relevant industry codes of practice and standards
• risk and opportunity assessment techniques and processes.

Overview of assessment 

This unit of competency could be assessed through practical demonstration of identifying and analysing potential threats and opportunities to ensure safe and effective property operations. Targeted written (including alternative formats where necessary) or verbal questioning to assess the candidate's underpinning knowledge would provide additional supporting evidence of competence. The demonstration and questioning would include collecting evidence of the candidate's knowledge and application of ethical standards and relevant federal, and state or territory legislation and regulations. This assessment may be carried out in a simulated or workplace environment.

Critical aspects for assessment and evidence required to demonstrate competency in this unit 

A person who demonstrates competency in this unit must be able to provide evidence of:

• assessing level of risk or opportunity potential against agreed assessment criteria
• establishing terms of reference and developing effective action plan and structure for analysis and assessment
• knowledge of organisation's practices, ethical standards and legislative requirements associated with identifying and analysing potential threats and opportunities to ensure safe and effective property operations
• obtaining information from a range of sources and consultative processes to ensure accurate understanding of operating environment
• reviewing and preparing findings relating to risks and opportunities in a format suitable for presentation.

Context of and specific resources for assessment 

Resource implications for assessment include:

• access to suitable simulated or real opportunities and resources to demonstrate competence
• assessment instruments that may include personal planner and assessment record book
• access to a registered provider of assessment services.

Where applicable, physical resources should include equipment modified for people with disabilities.

Access must be provided to appropriate learning and/or assessment support when required.

Assessment processes and techniques must be culturally appropriate, and appropriate to the language and literacy capacity of the candidate and the work being performed.

Validity and sufficiency of evidence require that:

• competency will need to be demonstrated over a period of time reflecting the scope of the role and the practical requirements of the workplace
• where the assessment is part of a structured learning experience the evidence collected must relate to a number of performances assessed at different points in time and separated by further learning and practice with a decision of competence only taken at the point when the assessor has complete confidence in the person's competence
• all assessment that is part of a structured learning experience must include a combination of direct, indirect and supplementary evidence
• where assessment is for the purpose of recognition (RCC/RPL), the evidence provided will need to be current and show that it represents competency demonstrated over a period of time
• assessment can be through simulated project-based activity and must include evidence relating to each of the elements in this unit.

In all cases where practical assessment is used it will be combined with targeted questioning to assess the underpinning knowledge. Questioning will be undertaken in such a manner as is appropriate to the language and literacy levels of the candidate and any cultural issues that may affect responses to the questions, and will reflect the requirements of the competency and the work being performed.

Information  may relate to:

• agency listing records
• historical data
• insurance
• key personnel
• lines of responsibility
• operating environment of organisation, including financial markets, competitors, core business activities, functions and stakeholders
• owner surveys
• property management reports
• reports and relevant documentation.

Risks  may relate to:

• deliberate, natural, accidental or perceived
• industry special risks
• loss of goodwill, reputation or credibility
• loss of profits
• loss, disclosure, destruction or compromise of asset
• machinery malfunction
• OHS
• public liability
• trade practices issues.

Opportunities  may relate to:

• adding value
• aggregation of assets
• altering existing property or facility
• change in use, ownership, appearance and perception of property or facility
• changing style of investment
• creating something new
• use of bankers and financiers.

Organisational requirements  may be outlined and reflected in:

• business and performance plans
• complaint and dispute resolution procedures
• goals, objectives, plans, systems and processes
• legal and ethical requirements and codes of practice
• OHS policies, procedures and programs
• policies and procedures in relation to client service
• quality and continuous improvement processes and standards
• quality assurance and procedure manuals.

Terms of reference  may relate to:

• agreed timeframes
• client expectations
• costs
• limitations and exclusions
• operational environment
• roles and responsibilities
• scale of the task or assessment (whether a full-scale operation or limited to a particular section or operation of the company)
• security and other clearances.

Relevant people  may include:

• clients
• colleagues
• internal and external auditors
• legal representatives
• members of industry associations
• supervisors.

Structured plan  may be constructed by using:

• checklists
• interview question sheets
• spreadsheets, word-processing and other software
• structured planning software
• structured questionnaires
• structured tables.

Limitations  may relate to:

• industry requirements
• job role and responsibilities
• legal responsibilities
• own competency level
• own understanding of risk identification processes
• quality processes.

Analysis :

• may be:

• explorative, descriptive, causative or predictive
• quantitative and qualitative

• may include:

• basic statistical analysis
• critical analysis
• mathematical calculations
• problem solving.

Assessment criteria  may be based on:

• Australian and New Zealand risk management standards
• organisational or client requirements
• qualitative and quantitative factors
• semi-quantitative factors.

Risk and opportunity assessment findings  may include:

• graphical representations of data
• suggestions
• summary of assessment outcomes
• tables and information from approved data collection tools.

Feedback  may be sought from:

• supervisors and colleagues
• documentation and reports
• quality assurance data
• questionnaires
• regular meetings.

Legislative requirements  may be outlined and reflected in:

• Australian standards
• codes of practice covering the market sector and industry, financial transactions, taxation, environment, construction, land use, native title, zoning, utilities use (water, gas and electricity), and contract or common law
• home building requirements
• privacy requirements
• quality assurance and certification requirements
• relevant federal, and state or territory legislation that affects organisational operation, including:

• anti-discrimination and diversity
• environmental issues
• EEO
• industrial relations
• OHS

• strata, community and company titles
• tenancy agreements
• trade practices laws and guidelines.

Unit sector 

Property development, sales and management

Competency field 

Property operations and development