Unit of competency details

TLIP5036 - Manage assets (Release 1)

Summary

Releases:
ReleaseStatusRelease date
1 1 (this release)Current 19/Oct/2015

Usage recommendation:
Current
Mapping:
MappingNotesDate
Supersedes and is equivalent to TLIP5036A - Manage assetsUpdated to align with the Standards for Training Packages. 18/Oct/2015


Training packages that include this unit

Classifications

SchemeCodeClassification value
ASCED Module/Unit of Competency Field of Education Identifier 080101 Accounting  

Classification history

SchemeCodeClassification valueStart dateEnd date
ASCED Module/Unit of Competency Field of Education Identifier 080101 Accounting  29/Apr/2016 
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Unit Of competency

Modification History

Release 1. This is the first release of this unit of competency in the TLI Transport and Logistics Training Package.

Application

This unit involves the skills and knowledge required to manage assets as part of work undertaken in various contexts within the transport and logistics industry.

It includes determining asset classification and identification, recording and valuing assets and maintaining an asset management system.

The unit generally applies to those who lead individuals or teams.

No licensing, legislative or certification requirements apply to this unit at the time of publication.

Pre-requisite Unit

Not applicable.

Competency Field

P Administration and Finance

Unit Sector

Not applicable.

Elements and Performance Criteria

ELEMENT S 

PERFORMANCE CRITERIA 

Elements describe the essential outcomes.

Performance criteria describe the performance needed to demonstrate achievement of the element.

1 

Determine asset classification and identification 

1.1

Asset register format is determined on basis of current needs and business plan, in accordance with company requirements

1.2

Compatible classification system that meets asset accounting and asset management needs is selected, in accordance with company requirements

1.3

Value thresholds for assets to be recorded in the asset register are determined, in accordance with company requirements

2 

Record and value assets 

2.1

Specified details of all material assets are identified and recorded, in accordance with asset management policies and procedures

2.2

Assets are recorded in compliance with legislative and company requirements

2.3

Condition of each asset is determined, in accordance with manufacturer specifications, and legislative and company requirements

2.4

Useful/residual life of each asset is determined, in accordance with manufacturer specifications and company requirements

2.5

Current value of each asset based on valid and reliable information is calculated, in accordance with legislative and company requirements

3 

Maintain asset management system 

3.1

Records are continuously updated to record asset purchases, loss, damage or disposal, in accordance with company requirements

3.2

Periodic audits are conducted to ensure accuracy of asset register, in accordance with company requirements

3.3

Asset management system is periodically reviewed to ensure it is supporting business needs, in accordance with company requirements

3.4

Training to support effective management and maintenance of the asset register is provided, in accordance with company requirements

Foundation Skills

Foundation skills essential to performance are explicit in the performance criteria of this unit of competency.

Range of Conditions

Range is restricted to essential operating conditions and any other variables essential to the work environment.

Non-essential conditions can be found in the Companion Volume Implementation Guide.

Unit Mapping Information

This unit replaces and is equivalent to TLIP5036A Manage assets.

Links

Companion Volume implementation guides are found in VETNet - https://vetnet.education.gov.au/Pages/TrainingDocs.aspx?q=df441c6e-213d-43e3-874c-0b3f7036d851

 

Assessment requirements

Modification History

Release 1. This is the first release of this unit of competency in the TLI Transport and Logistics Training Package.

Performance Evidence

Evidence required to demonstrate competence in this unit must be relevant to and satisfy all of the requirements of the elements and performance criteria on at least one occasion and include:

  • applying relevant legislation and workplace procedures
  • communicating and working effectively with others when managing assets
  • completing documentation related to managing assets
  • determining organisational needs in the implementation and management of an asset register
  • interpreting and following operational instructions and prioritising work
  • reading and interpreting instructions, procedures, information and signs relevant to managing assets
  • recording asset data accurately.

Knowledge Evidence

Evidence required to demonstrate competence in this unit must be relevant to and satisfy all of the requirements of the elements and performance criteria and include knowledge of:

  • different types of asset management systems and their strengths and weaknesses
  • relevant sections of national and state/territory regulatory requirements and codes of practice
  • requirements for completing relevant documentation such as asset registers
  • types of valuation methodologies and their usefulness in different contexts.

Assessment Conditions

As a minimum, assessors must satisfy applicable regulatory requirements, which include requirements in the Standards for Registered Training Organisations, current at the time of assessment.

As a minimum, assessment must satisfy applicable regulatory requirements, which include requirements in the Standards for Registered Training Organisations, current at the time of assessment.

Assessment must occur in workplace operational situations where it is appropriate to do so; where this is not appropriate, assessment must occur in simulated workplace operational situations that replicate workplace conditions.

Assessment processes and techniques must be appropriate to the language, literacy and numeracy requirements of the work being performed and the needs of the candidate.

Resources for assessment include:

  • a range of relevant exercises, case studies and/or other simulations
  • relevant and appropriate materials, tools, equipment and personal protective equipment currently used in industry
  • applicable documentation including workplace procedures, regulations, codes of practice and operation manuals.

Links

Companion Volume implementation guides are found in VETNet - https://vetnet.education.gov.au/Pages/TrainingDocs.aspx?q=df441c6e-213d-43e3-874c-0b3f7036d851

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