Modification History
Not applicable.
Unit Descriptor
This unit describes the skills and knowledge required to identify appropriate sources of revenue and funding consistent with the organisation's vision, and to actively develop the information and relationships required to secure revenue. This role would generally be undertaken by a manager or senior administrator.
This unit describes the skills and knowledge required to identify appropriate sources of revenue and funding consistent with the organisation's vision, and to actively develop the information and relationships required to secure revenue. This role would generally be undertaken by a manager or senior administrator
Application of the Unit
Not applicable.
Licensing/Regulatory Information
Not applicable.
Pre-Requisites
Not applicable.
Employability Skills Information
Not applicable.
Elements and Performance Criteria Pre-Content
Not applicable.
Elements and Performance Criteria
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Elements and Performance Criteria |
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Element |
Performance Criteria |
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1 |
Determine potential revenue opportunities |
1.1 |
Research potential revenue opportunities to determine availability |
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1.2 |
Research potential revenue opportunities in terms of access and constraints |
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2 |
Evaluate potential revenue sources |
2.1 |
Evaluate opportunities in relation to the organisation's overall vision and direction |
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2.2 |
Evaluate opportunities in terms of potential costs and benefits to the organisation |
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2.3 |
Determine priorities in seeking revenue from identified sources in accordance with the organisation's current direction and vision |
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3 |
Establish and maintain relationships associated with potential revenue sources |
3.1 |
Identify key stakeholders who can support the organisation and/or its revenue building activities |
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3.2 |
Determine avenues to establish suitable relationships which will support the organisation and/or its revenue building activities |
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3.3 |
Maintain and build positive relationships which support the organisation |
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4 |
Implement strategies to enhance revenue |
4.1 |
In a timely manner, assign appropriate resources associated with seeking revenue or funding |
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4.2 |
Pursue selected potential revenue sources in accordance with priorities |
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5 |
Evaluate revenue opportunities |
5.1 |
Monitor all arrangements to ensure compliance with the requirements of the funding source |
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5.2 |
Review the impact of funding on the organisation |
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5.3 |
Review organisation's priorities and funding planning arrangements |
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Required Skills and Knowledge
Not applicable.
Evidence Guide
Underpinning skills and knowledge
Assessment must include evidence of the following knowledge and skills:
systems through which opportunities may occur, e.g. government departments, industry
business requirements, e.g. audit, accounting, legal responsibilities
other organisations and the approaches they have used to generate revenue and funding.
Linkages to other units
This unit has linkages to a range of other units and combined assessment and/or training with those units may be appropriate, for example:
CUEFIN03B - Obtain sponsorship.
Critical aspects of evidence
The following evidence is critical to the judgement of competence in this unit:
development of an action plan which outlines selected strategies for pursuit of funding or revenue for a given organisation.
Method and context of assessment
The assessment context must provide for:
practical demonstration of skills through the development of an action plan detailing revenue strategies.
Assessment may incorporate a range of methods to assess performance and the application of essential underpinning knowledge, and might include:
role play/simulation around relationships and negotiation activities
preparation of action plans, strategies and proposals
questioning and discussion about action plan and negotiation strategies
verbal and written reports
development and analysis of case studies
review of portfolios of evidence
third party workplace reports of performance by the candidate.
Assessment methods should closely reflect workplace demands and the needs of particular groups (e.g. people with disabilities, and people who may have literacy or numeracy difficulties such as speakers of languages other than English, remote communities and those with interrupted schooling).
Resource requirements
Assessment of this unit requires access to the materials, resources and equipment needed to research funding and revenue opportunities.
Key competencies in this unit
Key competencies are built into all workplace competencies. The table below describes those applicable to this unit. Trainers and assessors should ensure that they are addressed in training and assessment.
Level 1 = Perform
Level 2 = Administer and Manage
Level 3 = Design and Evaluate
Collecting , organising and analysing information (3)
Researching and assessing funding opportunities.
Communicating ideas and information (3)
Reporting on revenue options.
Planning and organising activities (2)
Planning resources.
Working with others and in teams (3)
Consulting with stakeholders.
Using mathematical ideas and techniques (2)
Estimating resource requirements.
Solving problems (3)
Evaluating the way in which the organisation could meet constraints of funding.
Using technology (1)
Using the Internet for research.
Underpinning skills and knowledge
Assessment must include evidence of the following knowledge and skills:
systems through which opportunities may occur, e.g. government departments, industry
business requirements, e.g. audit, accounting, legal responsibilities
other organisations and the approaches they have used to generate revenue and funding.
Linkages to other units
This unit has linkages to a range of other units and combined assessment and/or training with those units may be appropriate, for example:
CUEFIN03B - Obtain sponsorship.
Critical aspects of evidence
The following evidence is critical to the judgement of competence in this unit:
development of an action plan which outlines selected strategies for pursuit of funding or revenue for a given organisation.
Method and context of assessment
The assessment context must provide for:
practical demonstration of skills through the development of an action plan detailing revenue strategies.
Assessment may incorporate a range of methods to assess performance and the application of essential underpinning knowledge, and might include:
role play/simulation around relationships and negotiation activities
preparation of action plans, strategies and proposals
questioning and discussion about action plan and negotiation strategies
verbal and written reports
development and analysis of case studies
review of portfolios of evidence
third party workplace reports of performance by the candidate.
Assessment methods should closely reflect workplace demands and the needs of particular groups (e.g. people with disabilities, and people who may have literacy or numeracy difficulties such as speakers of languages other than English, remote communities and those with interrupted schooling).
Resource requirements
Assessment of this unit requires access to the materials, resources and equipment needed to research funding and revenue opportunities.
Key competencies in this unit
Key competencies are built into all workplace competencies. The table below describes those applicable to this unit. Trainers and assessors should ensure that they are addressed in training and assessment.
Level 1 = Perform
Level 2 = Administer and Manage
Level 3 = Design and Evaluate
Collecting , organising and analysing information (3)
Researching and assessing funding opportunities.
Communicating ideas and information (3)
Reporting on revenue options.
Planning and organising activities (2)
Planning resources.
Working with others and in teams (3)
Consulting with stakeholders.
Using mathematical ideas and techniques (2)
Estimating resource requirements.
Solving problems (3)
Evaluating the way in which the organisation could meet constraints of funding.
Using technology (1)
Using the Internet for research.
Range Statement
The following explanations identify how this unit may be applied in different workplaces, sectors and circumstances.
Revenue opportunities may include :
government funding
advertising
sponsorship
sales
promotional opportunities
corporate contributions.
Research may include :
Internet
newspapers and magazines
tender search organisations
benchmarking with other similar organisations
experts
government funding programs.
Process required to access potential revenue sources may include :
completion of proposals or submissions
presentations
direct approaches
response to tenders or advertising
retail outlets sourced or established.
Evaluation of potential revenue opportunities may include :
consistency with organisational vision
analysis of costs involved, e.g. time, people, resources, compliance requirements, reporting requirements
analysis of benefits
likely chance of success
profile opportunities
relationship/network opportunities
length of support obtained
nature of support obtained.
Avenues to establish relationships may include :
direct approaches
attendance at organised networking events, e.g. conferences, openings, launches
organisation of own networking events, e.g. launches, displays, workshops, promotions
presentations
offering support to other organisations.
Resources may include :
time
staff
costs associated with such things as catering, printing, mail outs, etc.
Impact of funding on organisation may involve :
additional work requirements on staff
reporting requirements
additional promotional and profiling opportunities
additional networking opportunities
access to other potential revenue sources
increase in the utilisation of that funding source
opportunities to extend potential funding into new areas
ability to comply with any funding/sponsorship conditions.
The following explanations identify how this unit may be applied in different workplaces, sectors and circumstances.
Revenue opportunities may include :
government funding
advertising
sponsorship
sales
promotional opportunities
corporate contributions.
Research may include :
Internet
newspapers and magazines
tender search organisations
benchmarking with other similar organisations
experts
government funding programs.
Process required to access potential revenue sources may include :
completion of proposals or submissions
presentations
direct approaches
response to tenders or advertising
retail outlets sourced or established.
Evaluation of potential revenue opportunities may include :
consistency with organisational vision
analysis of costs involved, e.g. time, people, resources, compliance requirements, reporting requirements
analysis of benefits
likely chance of success
profile opportunities
relationship/network opportunities
length of support obtained
nature of support obtained.
Avenues to establish relationships may include :
direct approaches
attendance at organised networking events, e.g. conferences, openings, launches
organisation of own networking events, e.g. launches, displays, workshops, promotions
presentations
offering support to other organisations.
Resources may include :
time
staff
costs associated with such things as catering, printing, mail outs, etc.
Impact of funding on organisation may involve :
additional work requirements on staff
reporting requirements
additional promotional and profiling opportunities
additional networking opportunities
access to other potential revenue sources
increase in the utilisation of that funding source
opportunities to extend potential funding into new areas
ability to comply with any funding/sponsorship conditions.
Unit Sector(s)
Not applicable.
