BSBOPS501 — Manage business resources

Elements & performance criteria

Performance evidence

• develop, implement and review at least three resource plans.
• consult with stakeholders and analyse information to determine the nature and level of resources required to achieve business objectives
• plan for, acquire and allocate the resources, incorporating strategies to maximise efficiency and manage risk
• develop and implement systems to incorporate efficient use of resources into work practices
• develop and implement systems to monitor resource use against budgets and business objectives
• prepare a report that indicates the level of performance achieved and any adjustments needed to achieve service and product delivery standards.

Knowledge evidence

• legislative and regulatory context of the organisation in relation to managing resources
• contents of resource plans including: acquisition and allocation of resources, timelines and the relationship to business strategies, contingency plans and processes, costs and budgets
• resource acquisition processes
• managing finance, including project budgets
• resource allocation review procedures
• objectives of business unit
• typical risks associated with managing business resources and risk management strategies
• procedures for risk management, including requirements for the consideration of potential changes in government priorities
• key elements and sources of information required to monitor usage of: physical resources, human resources.

Foundation skills

• Reading: Interprets textual information including legislation and organisational policy, to plan, implement and review resource requirements. Analyses organisational information to assess resource usage practices.
• Writing: Develops organisational texts including proposals, reports and plans according to organisational requirements.
• Oral communication: Participates in spoken exchanges with stakeholders using structure and language appropriate to context and audience.
• Numeracy: Selects and uses familiar mathematical techniques to determine costs and benefits associated with strategic resource decisions. Defines timeframes according to schedule requirements. Selects and uses familiar mathematical techniques to organise timely supply of required resources as well as identify budgetary information and monitor performance.
• Enterprise and initiative: Contribute to the development of organisational policies and procedures. Adheres to legal requirements and organisational policies and procedures.
• Teamwork: Collaborates and negotiates with others to achieve required outcomes.
• Planning and organising: Accepts responsibility for planning and sequencing complex tasks to achieve organisational requirements. Develops plans and systems to manage resource allocation. Systematically gathers and analyses all relevant information, evaluates options and conducts reviews to inform recommendations about resource usage improvements.

Unit content sourced from training.gov.au — © Commonwealth of Australia, licensed under CC BY 4.0. Auditori is not affiliated with the Department of Employment and Workplace Relations.

Questions about assessing BSBOPS501