SIRXMGT005 — Lead the development of business opportunities
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What an assessment for SIRXMGT005 must cover
31 assessable components: 4 elements (16 performance criteria), 5 performance evidence and 6 knowledge evidence requirements, plus 4 foundation skills. An audit-defensible tool maps every question and task back to these — that mapping is the coverage matrix Auditori generates alongside the assessment.
Elements & performance criteria
1 Identify new business opportunities.
- 1.1Review existing operations to identify and analyse new business opportunities.
- 1.2Research business trends relevant to the organisation to identify new business opportunities.
- 1.3Identify and evaluate opportunities and threats from internal and external environments.
- 1.4Consult with stakeholders and customers to seek input into business opportunities.
- 1.5Determine organisational capacity to respond to identified opportunities and select opportunities to peruse.
2 Develop a business development plan.
- 2.1Prepare feasibility studies and reports that assess viability, profitability and sustainability of development opportunities.
- 2.2Analyse risks associated with initiatives and ensure compliance with legislative and regulatory requirements.
- 2.3Develop and document a business development plan outlining priorities, responsibilities, performance indicators, timelines and budgets.
- 2.4Communicate plans to relevant personnel and seek required approval.
- 2.5Test business development initiatives for acceptance in the market place.
- 2.6Prioritise potential business development opportunities for action.
3 Implement business development plan.
- 3.1Communicate the business develop plan to relevant stakeholders and personnel.
- 3.2Allocate resources to support the delivery of business development opportunities.
- 3.3Oversee the roll-out of marketing and communication processes to target markets launching new business initiatives.
4 Evaluate impact of business development plans.
- 4.1Monitor and evaluate new business initiatives against desired outcomes and performance indicators.
- 4.2Review business development plans in line with changing organisational and business requirements.
Performance evidence
- identify business opportunities and develop a business development plan for the implementation of one identified opportunity by:
- researching and analysing internal and external business environments to determine opportunities for business development
- determining feasibility of and risks associated with business development opportunities
- developing business plan that details: priorities, responsibilities, performance indicators, timelines, budgets
- evaluating the above plan against performance indicators and report on impact and effectiveness.
Knowledge evidence
- techniques for: identifying and analysing business opportunities, determining feasibility of business development opportunities, evaluating business development plans
- formats of business development plans
- internal and external environments and their role in determining business opportunities
- risks associated with business development opportunities and strategies to minimise risks
- budgeting and financial planning procedures
- business development opportunities and trends in the relevant industry.
Foundation skills
- Writing skills: prepare complex business documents.
- Numeracy skills: analyse financial viability of new opportunities.
- Problem solving skills: exercise judgement and decision making when selecting opportunities for business development.
- Initiative and enterprise skills: apply lateral and creative thinking to the development of new opportunities.
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.
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Real, unedited Auditori output (RIIHAN201E shown), branded for a sample RTO:
Questions about assessing SIRXMGT005
What does an assessment tool for SIRXMGT005 need to cover?
To satisfy the Principles of Assessment and Rules of Evidence, an assessment for SIRXMGT005 needs to address all 31 unit components: 4 elements with 16 performance criteria, 5 performance evidence requirements, 6 knowledge evidence requirements, and the foundation skills. A coverage matrix mapping each question and task to these components is what an auditor looks for.
How does Auditori generate an assessment tool for SIRXMGT005?
Auditori pulls the current release of SIRXMGT005 from training.gov.au and generates a complete package: candidate assessment, assessor guide with model answers and observation criteria, and a coverage matrix mapping every component. A suitably qualified person then reviews and approves the draft in a built-in workflow — consistent with ASQA's guidance on AI use in VET — before export as branded PDF and editable Word.
Is the first assessment tool really free?
Yes. Every new account includes one free credit — enough to generate the complete assessment tool for SIRXMGT005 — with no card and no subscription required. After that it's pay-as-you-go per unit.
Can I check my existing SIRXMGT005 assessment instead of generating a new one?
Yes — upload your existing assessment or learner guide and Auditori maps it against every element, performance criterion, PE and KE of SIRXMGT005, showing exactly what's covered and what's missing. Mapping costs a quarter of a credit.
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