Unit of competency details
CUAFIM411 - Obtain revenue to support operations (Release 1)
Summary
Usage recommendation:
Current
Releases:
| 1 1 (this release) |
16/Apr/2021 |
Companion volumes:
Unit of competency
Assessment requirements
Training packages that include this unit
Qualifications that include this unit
Accredited courses that have this unit in the completion mapping
Classifications
Classification history
| ASCED Module/Unit of Competency Field of Education Identifier | 080301 | Business Management | 16/Apr/2021 | |
The content being displayed has been produced by a third party, while all attempts have been made to make this content as accessible as possible it cannot be guaranteed. If you are encountering issues following the content on this page please consider downloading the content in its original form
Unit of competency
Modification History
|
Release
|
Comments
|
|
Release 1
|
This version first released with CUA Creative Arts and Culture Training Package Version 5.0.
|
Application
This unit describes the skills and knowledge required to set revenue-raising goals, identify potential sources of revenue and to proactively work to secure revenue.
The unit applies to those who work with a large degree of independence and who work in variety of roles from sole practitioners through to senior administrators. Revenue could be raised from individual philanthropy, corporate philanthropy, corporate sponsorship or grants from philanthropic trusts or government agencies.
No licensing, legislative or certification requirements apply to this unit at the time of publication.
Unit Sector
Finance – financial 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. Set revenue-raising goals
|
1.1 Determine organisational goals, vision and revenue requirements
1.2 Identify potential revenue sources from different information sources
1.3 Identify factors that may affect the suitability of potential revenue sources
1.4 Evaluate suitability of revenue sources in relation to organisational goals and vision
1.5 Identify revenue-raising priorities in line with organisational goals and vision in consultation with required personnel
1.6 Determine how and from which sources revenue will be raised
|
|
2. Implement revenue-raising strategies
|
2.1 Identify and follow processes that access potential revenue
2.2 Build and maintain positive relationships with key stakeholders who can provide financial support
2.3 Coordinate funding development according to requirements
2.4 Negotiate terms and conditions of funding agreements
2.5 Clarify commitments made by both parties and communicate these to required personnel
|
|
3. Evaluate and document revenue-raising strategies
|
3.1 Monitor all arrangements and confirm compliance with funding requirements
3.2 Review impact of funding on self or organisation
3.3 Review priorities and revenue-raising strategies and amend as required
3.4 Complete workplace documentation according to organisational policies and procedures
|
Foundation Skills
This section describes those language, literacy, numeracy and employment skills that are essential to performance but not explicit in the performance criteria.
|
SKILL
|
DESCRIPTION
|
|
Numeracy
|
- Interprets financial data in different documents
|
|
Oral communication
|
- Elicits different perspectives about revenue raising priorities using questioning and active listening techniques
- Articulates needs clearly using specific, relevant and persuasive language and liaises and negotiates with financial supporters
|
|
Reading
|
- Interprets and evaluates complex and unfamiliar information about revenue sources, and terms and conditions of funding agreements
|
|
Planning and organising
|
- Plans, organises and takes responsibility for revenue raising activities
- Manages logistics associated with funding arrangements
|
|
Teamwork
|
- Generates ideas for revenue raising priorities and solutions in collaboration with others
- Invests time and energy and builds rapport with financial supporters as an integral part of the business relationship
|
Unit Mapping Information
Supersedes and is equivalent to CUAFIM401 Obtain revenue to support operations.
Links
Companion Volume Implementation Guide is found on VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=1db201d9-4006-4430-839f-382ef6b803d5
Assessment requirements
Modification History
|
Release
|
Comments
|
|
Release 1
|
This version first released with CUA Creative Arts and Culture Training Package Version 5.0.
|
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:
- obtain revenue to support at least two different operations.
In the course of the above, the candidate must:
- develop and document a plan that outlines strategies for raising revenue for a given organisation or practice
- research revenue-raising opportunities applicable to the organisation or practice
- coordinate funding development according to requirements
- monitor and review revenue-raising strategies.
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:
- sources of information for potential funding
- techniques for interpreting a range of financial data, including evaluating suitability of revenue sources in relation to organisational goals and vision
- organisational policies and procedures for obtaining revenue to support operations, including those relating to:
- avenues through which revenue can be raised and their typical objectives and expectations, including:
- individual philanthropy
- corporate philanthropy
- corporate sponsorship
- grant writing
- emerging trends and different models for revenue-raising activities
- issues and challenges that typically arise in revenue raising activities
- techniques for building and maintaining business relationships with stakeholders
- key obligations generally associated with funding agreements, including:
- legal requirements to supply services as contracted and ramifications of failure to comply
- audit of expenditure
- reporting requirements.
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:
- interaction with stakeholders
- organisational goals and visions for which revenue is required.
Assessors of this unit must satisfy the requirements for assessors in applicable vocational educational and training legislation, frameworks and/or standards.
Links
Companion Volume Implementation Guide is found on VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=1db201d9-4006-4430-839f-382ef6b803d5
