SITXFIN005 - Manage physical assets

Unit code: SITXFIN005 | Study level: TAFE

Credit points

N/A

Location

Footscray Nicholson

Industry

Prerequisites

N/A

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, hospitality and event sectors.

Assessment

For Melbourne campuses

Assessment tasks will be designed to reinforce and extend knowledge and skill competence within set and controlled parameters in accordance with each unit’s learning outcomes and 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:

develop a plan for the acquisition, maintenance and replacement of at least three different types of physical assets listed in the knowledge evidence;
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, and;
develop and maintain a current register for assets.

Students will also be expected to demonstrate the following knowledge:

business objectives relevant to the management of physical assets;
types of physical assets required by tourism, hospitality and event organisations and the organisation;
maintenance requirements for different types of physical assets;
considerations for long-term assessment of physical assets;
equipment specifications to guide acquisition process;
formats for and inclusions of asset registers specified in performance evidence;
features and benefits of different financing options for asset acquisition;
depreciation that can be applied to different types of physical assets, and;
data used in the estimation of asset acquisition.

Required reading

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