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Unit of competency details

CUAFIM501 - Source funding for projects (Release 1)

Summary

Usage recommendation:
Current
Mapping:
MappingNotesDate
Supersedes CUSFIM501A - Secure funding for projectsUpdated to meet Standards for Training Packages. Title changed. Elements and performance criteria rewritten to clarify unit outcomes. 14/Jan/2016

Release Status:
Current
Releases:
ReleaseRelease date
1 1 (this release) 15/Jan/2016


Accredited courses that have this unit in the completion mapping

Training packages that include this unit

Qualifications that include this unit

CodeTitleSort Table listing Qualifications that include this unit by the Title columnRelease
CUA60715 - Advanced Diploma of Visual ArtsAdvanced Diploma of Visual Arts 1-2 
CUA60515 - Advanced Diploma of Music IndustryAdvanced Diploma of Music Industry 1-2 
CUA60213 - Advanced Diploma of Live Production and Management ServicesAdvanced Diploma of Live Production and Management Services 2-4 
CUA60113 - Advanced Diploma of Dance (Elite Performance)Advanced Diploma of Dance (Elite Performance) 2-4 
CUA51215 - Diploma of CeramicsDiploma of Ceramics 1-2 
CUA51115 - Diploma of Visual ArtsDiploma of Visual Arts 1-3 
CUA50815 - Diploma of Music IndustryDiploma of Music Industry 1-2 
CUA50615 - Diploma of Aboriginal and Torres Strait Islander Visual Arts Industry WorkDiploma of Aboriginal and Torres Strait Islander Visual Arts Industry Work 
CUA50513 - Diploma of Live Production DesignDiploma of Live Production Design 2-4 
CUA50415 - Diploma of Live Production and Technical ServicesDiploma of Live Production and Technical Services 1-3 
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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  24/Jun/2016 
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Unit Of competency

Modification History

Release 

Comments 

Release 1

This version first released with CUA Creative Arts and Culture Training Package version 2.0.

Application

This unit describes the skills and knowledge required to raise money for a creative or artistic project.

It applies to individuals who determine the amount of funding required, locate likely funding sources, develop funding proposals and identify opportunities for future funding.

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. Investigate funding opportunities for project

1.1 Determine the scope and funding needs of project

1.2 Calculate optimum funding arrangements

1.3 Research potential funding sources and the activities they support, eligibility and selection processes

2. Develop a funding proposal

2.1 Summarise the proposed project, the purpose of funding and the amount sought

2.2 Determine project timelines and budget breakdown

2.3 Prepare funding documentation

2.4 Collate additional materials and testimonials to support request for funding

2.4 Arrange an independent review of funding proposal and seek tax and regulatory advice where necessary

2.5 Prepare return on investment information for potential investors

3. Pitch project and funding request

3.1 Plan and document presentation approach and intended outcomes

3.2 Choosepresentation strategies, format and delivery methodsthat match thecharacteristicsof the target audience

3.3 Selectpresentation aids, materialsandtechniquesthat suit the format and purpose of the presentation

3.4 Present proposal using persuasive communication techniques to secure audience interest

3.5 Respond to audience questions on central ideas and concepts

3.6 Evaluate presentation to identify strengths and weaknesses to inform subsequent presentations

4. Examine terms and conditions of potential funding

4.1 Review funding agreement and clarify terms and conditions of funding

4.2 Ascertain reporting requirements

4.3 Establish processes to monitor compliance and report project progress

Foundation Skills

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

Skill 

Performance  Criteria 

Description 

Learning

3.6

  • Uses self-evaluation to identify opportunities to improve own skills

Reading

1.1-1.3, 2.4, 4.1

  • Recognises and interprets textual information to determine and define requirements
  • Organises, evaluates and critiques ideas and information from a number of sources

Writing

2.1, 2.3, 2.5, 3.1, 3.4, 4.3

  • Uses specialised language to covey and request detailed information, and grammatical structure to support the purpose and document format

Oral Communication

2.4, 3.4, 3.5

  • Elicits the view and opinion of others by using listening and questioning techniques
  • Uses industry related and specific terminology to present information suitable to audience and environment

Numeracy

1.2, 2.2, 2.3, 2.5, 4.1

  • Uses mathematical skills to estimate and develop structured funding plans

Navigate the world of work

2.4, 4.2, 4.3

  • Takes responsibility for meeting legal, regulatory and compliance requirements

Interact with others

2.4, 3.4, 3.5

  • Follows accepted communication practices and protocols
  • Uses effective interpersonal skills to build rapport, present concepts and seek feedback

Get the work done

1.1, 1.3, 2.2-2.4, 3.1-3.3, 4.1-4.3

  • Plans and prioritises a range of tasks to achieve outcomes efficiently and in a timely manner
  • Uses problem solving techniques to analyse factors and make decisions about funding sources and proposals
  • Uses appropriate digital tools and technologies to access, enter and present information

Unit Mapping Information

Code and title  

current version 

Code and title 

previous version 

Comments 

Equivalence status 

CUAFIM501 Source funding for projects

CUSFIM501A Secure funding for projects

Updated to meet Standards for Training Packages.

Title changed.

Elements and performance criteria rewritten to clarify unit outcomes.

Not equivalent

Links

Companion Volume implementation guides are found in 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 2.0.

Performance Evidence

Evidence of the ability to:

  • research funding sources
  • develop viable funding proposals
  • prepare and deliver project pitch using effective presentation strategies and communication techniques
  • interpret funding agreements.

Note: If a specific volume or frequency is not stated, then evidence must be provided at least once.

Knowledge Evidence

To complete the unit requirements safely and effectively, the individual must:

  • explain the range of potential funding sources and the channels through which they are publicised
  • describe project proposal information required to support request for funding
  • explain key features of a project pitch
  • outline issues and challenges that typically arise in the context of securing funding for projects and how they might be overcome.

Assessment Conditions

Assessment must be conducted in a safe environment where evidence gathered demonstrates consistent performance of typical activities experienced in creative arts industry environments. The assessment environment must include access to:

  • appropriate sources of information to prepare and support funding proposals
  • interaction with others to present funding proposal.

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 guides are found in VETNet - https://vetnet.gov.au/Pages/TrainingDocs.aspx?q=1db201d9-4006-4430-839f-382ef6b803d5