SITXFIN011 - Manage physical assets

Unit code:SITXFIN011Study level:TAFE

Nominal hours

Location

Footscray Nicholson
Industry

Prerequisites

(Or equivalent to be determined by unit coordinator)
Co-requisites
(Corequisite units must be studied concurrently with this unit)

Overview

This unit describes the performance outcomes, skills and knowledge required to manage the physical assets of an organisation. It requires the ability to establish systems and practices for asset monitoring, maintenance and acquisition.
It applies to senior managers who operate with significant autonomy and who are responsible for making a range of strategic management decisions.The unit applies to all tourism, travel, hospitality and event sectors.

Assessment

For Melbourne campuses

Assessment tasks will be designed to reinforce & extend knowledge and skill competence within set & controlled parameters in accordance with each units learning outcomes & performance criteria requirements, including the setting of work based practical application tasks designed to provide evidence of competence outcomes, within periodic and scheduled timelines.

Students will be expected to demonstrate the following required skills:

establish a regime for the acquisition, maintenance and replacement of at least three different physical assets listed in the knowledge evidence
when establishing the above regime, include practices that:

monitor the utility of assets to meet business needs
provide regular financial reports on the assets
record formal and informal customer and staff feedback
integrate day-to-day condition reports
schedule internal or external inspections or audits
schedule management reports
develop and maintain a current register for the above assets.

Students will also be expected to demonstrate the following knowledge:

business objectives relevant to the management of physical assets:

profitability
growth
providing quality products and services to customers

adhering to:

codes of conduct
environmental sustainability philosophies and practices

industry accreditation schemes
types of physical assets required by tourism, hospitality and event organisations:

buildings
computer systems
equipment fixtures, fittings and furniture in:
accommodation establishments
commercial kitchens
restaurants and bars
storage areas
tourism, hospitality and event offices
transportation depots
gardens
pools
rides and games
vehicles
vessels

maintenance requirements for different types of physical assets
considerations for long-term assessment of physical assets:

ability to meet business objectives
cost of maintenance over a period of time
customer and staff feedback
input from specialists where required
operational efficiency
safety

equipment specifications to guide acquisition process:

budget parameters
environmental sustainability policies for the business
floor plans
numbers and types of required equipment fixtures, fittings and furniture

operational performance requirements:

efficiency
customer traffic
staff usage

types of products and services offered by the business
formats for and inclusions of asset registers
features and benefits of different financing options for asset acquisition:

hire purchase
lease
purchase
rent

depreciation that can be applied to different types of physical assets
data used in the estimation of asset acquisition:

current maintenance contracts
estimates and quotations from suppliers, previous contracts and costs
published or advertised prices

practices to support environmental sustainability using different types of physical assets.

Required reading

The qualified trainer and assessor will provide teaching and learning materials as required in the form of workbooks produced by Victoria University and/or via the Victoria University e-learning system.