Unit of competency details

Unit descriptor 

This unit of competency specifies the outcomes required to plan for the management of assets. It requires the ability to implement effective strategies to manage the operational, resource and maintenance needs of assets and to review and evaluate those strategies.

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 planning for the management of assets.

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 Establish performance needs of assets .

1.1 Asset  performance needs are established in consultation with relevant people  according to organisational requirements .

1.2 Risk  assessment is conducted on asset management outcomes according to organisational and legislative requirements .

1.3 Industry benchmarks  are analysed to determine expected asset performance  in varying conditions according to organisational requirements.

1.4 Applicable legislation is interpreted in order to establish user, contractual and legislative requirements for asset performance.

1.5 Specifications, conditions and manufacturer requirements for asset maintenance and operation are identified for incorporation into plan.

2 Prepare asset management plan .

2.1 Asset management plan is prepared that facilitates achievement of identified aims and objectives.

2.2 Operational and maintenance schedule  detailing a range of activities and time lines is incorporated into asset management plan.

2.3 Asset management plan is presented to client  for review according to organisational requirements.

2.4 Quality assurance goals and strategies related to implementation of the plan are communicated using established communication channels .

2.5 Monitoring and reporting arrangements for asset management plan are established and documented in line with client requirements.

2.6 Financial, physical and human resource requirements are identified and arranged according to asset management plan and organisational requirements.

2.7 Roles and responsibilities for establishing and maintaining asset register  are identified and documented according to client and legislative requirements.

3 Review and evaluate asset management plan .

3.1 Maintenance strategies  and plans are reviewed and evaluated in consultation with client and relevant people using appropriate communication techniques .

3.2 Systematic review processes and established evaluation methods  are identified and used to assess planning processes and outcomes.

3.3 Evaluation results are prepared in required format, style and structure and presented to relevant people within agreed timeframes.

3.4 Recommendations for improvement of plan are presented to relevant people according to organisational procedures.

3.5 Business equipment and technology  are used to securely maintain documentation according to legislative and organisational procedures.

REQUIRED SKILLS AND KNOWLEDGE 

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

Required skills :

• analytical skills to interpret documentation, analyse risk, estimate costings and budget needs, and review and evaluate plan
• communication skills to negotiate and consult with relevant people
• 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
• literacy skills to interpret written and oral information
• organisational skills to schedule and meet time lines and client requirements, organise resource and support processes, and plan and document strategies to manage assets
• technical skills to develop schedules and document plans.

Required knowledge and understanding :

• building codes and relevant Australian standards
• building control legislation
• building practices in relevant property types
• building services and operation methods and practices
• customer needs and preferences for different property types
• industry performance benchmarks
• limitations of work role, responsibility and professional abilities
• maintenance procedures, including vendor specifications
• monitoring and evaluation systems
• OHS issues and requirements
• organisational and professional procedures, ethical practices and business standards
• 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
• privacy
• property sales, leasing and management

• standards for building equipment operation.

Overview of assessment 

This unit of competency could be assessed through practical demonstration of planning for the management of assets. 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:

• determining asset performance needs using industry benchmarks and consideration of risk
• documenting resource and support arrangements, incorporating expected costs, and processes for development and maintenance of an asset register and operational and maintenance schedules
• evaluating the asset management plan through consultation with interested parties
• knowledge of organisation's practices, ethical standards and legislative requirements associated with planning for the management of assets
• preparing a detailed asset management plan which incorporates strategies for risk management, resource needs, monitoring and reporting arrangements and quality assurance.

Context of and specific resources for assessment 

Resource implications for assessment include:

• a registered provider of assessment services
• assessment materials and tools
• candidate special requirements
• competency standards
• cost and time considerations
• suitable assessment venue and equipment.

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 activity and must include evidence relating to each of the 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.

Assets  may be static or dynamic and include:

• buildings
• business and marketing contracts
• equipment
• furniture
• goodwill
• land
• property
• vehicles.

Relevant people  may include:

• agents
• clients
• designated OHS representatives
• emergency personnel
• engineers and technicians
• government personnel
• installers
• legal representatives
• management and colleagues
• members of industry associations

• property owners
• site personnel
• subcontractors
• technical experts
• tenants.

Organisational requirements  may be outlined and reflected in:

• access and equity principles and practice guidelines
• business and performance plans
• complaint and dispute resolution procedures
• goals, objectives, plans, systems and processes
• legal and ethical requirements and codes of practice
• mission statements and strategic plans
• 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.

Risk  may relate to:

• industry special risks
• loss of profits
• machinery malfunction
• OHS
• public liability
• trade practices issues.

Legislative requirements  may be outlined and reflected in:

• Australian standards, and quality assurance and certification requirements
• award and enterprise agreements
• 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
• environmental and zoning laws affecting access security, access and property use
• general duty of care to clients
• home building requirements
• local regulations and by-laws
• privacy laws applying to owners, contractors and tenants
• 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.

Industry benchmarks  may include:

• discounted cash flow
• employment rates
• industry association performance index
• inflation rate
• internal rate of return
• life cycle costing
• published vacancy factors
• tenancy mix.

Asset performance  criteria may include:

• age
• condition assessment
• cost
• depreciation
• down time
• emergency operation and backup
• functionality
• life span
• maintenance requirements and cost
• replacement

• security
• service levels.

Schedules  may be:

• charts
• computerised
• paper-based
• prepared for daily, weekly, monthly or annual timeframes
• to-do lists
• wall-mounted planning boards
• work diary.

Clients  may include:

• building supervisors
• company management
• fund managers
• fund providers
• government and legal instruments or agencies
• institutions
• insurers
• internal and external property groups
• legal advisers
• private investors
• property agents
• property owners
• risk assessors.

Communication channels  may include:

• direct line supervision paths
• lateral supervision paths
• organisational communication protocols and procedures
• organisational networks.

Asset register  may include:

• air conditioning
• cleaning
• heating
• security systems
• telecommunications systems
• utilities
• ventilation
• vertical services
• waste management.

Maintenance strategies  may relate to:

• cleaning
• electrical
• emergency lighting
• evacuation
• fire lighting
• garden
• housekeeping
• painting
• pests
• plumbing
• sanitary disposal
• security
• vertical movement
• waste disposal
• weather proofing.

Communication techniques  may include:

• active listening
• clear presentation of options
• consultation methods
• culturally inclusive and sensitive engagement techniques
• questioning to clarify and confirm understanding
• seeking feedback
• two-way interaction
• using language and concepts appropriate to cultural differences
• verbal or non-verbal language.

Evaluation methods  could be qualitative or quantitative and may include:

• checklists
• cost data analysis
• expert and peer review
• interviews
• observation
• questionnaires
• review of quality assurance data.

Business equipment and technology  may include:

• data storage devices
• email
• facsimile machines
• internet, extranet and intranet
• photocopiers
• printers
• scanners
• software applications, such as databases and word applications
• work computers.

Unit sector 

Property development, sales and management

Competency field 

Property operations and development