Reference no: EM132393384

SITXFIN005 - Manage Physical Assets Assignment - Victoria University, Australia

Assessment 1 -

For this assessment, you are to assume you will be opening a small cafe. In doing so, you are to develop a detailed asset management strategy to ensure streamlined acquisition and management

The scope and size of your cafe is irrelevant, and your assert acquisition and management strategy should (as a minimum) cover:

• Identification of assets
• Purchasing of assets
• Authorisation limits
• Asset Control including stock-takes, asset registers, etc
• Asset security
• Asset Maintenance
• Financial implications (authorisation limits, disposals, depreciation)
• Personnel Responsibilities
• Environmental Management and WHS considerations
• Templates for any forms that your strategy refers to.

This strategy to be professionally presented to your assessor, and should be ready for implementation within a commercial cafe- You have scope as to the size of your commercial cafe, but as a minimum, you need to include provisions for 4 staff members, and internal seating for 10 customers.

It is also suggested that you keep in contact with your assessor with this unit, and hand in your drafts as you go, to ensure you are heading in the right direction.

Assessment 2 -

Using the asset register developed in Assessment 1, you are to implement your Asset Identification and Monitoring Strategy an area of your RTO.

Be sure to -

• Detail all assets.
• Identify assets in need of repair or replacement.
• Assess the performance of each asset for safety, operational efficiency and service quality.
• Provide a written report to your assessor with details of the review and relevant recommendations.

Evidence Summary -

• Your assessor will observe you performing this task
• You are to submit your written report at the end of your assessment.

Assessment 3 -

For this task you are required to coordinate the financing and purchasing of 3 different assets as agreed upon with your assessor. The assets may:

• relate to items identified in a business plan.
• include items identified as missing, damaged or unsafe from Assessment 2.
• items as directed by your assessor.

All assets will relate to a hospitality environment, and will have different values. Your assessor will act as your supervisor for this task, so feel free to contact them in relation to budget and time-lines.

In undertaking this task, you are to:

• Identify and determine the asset specifications.
• Identify the relevant maintenance requirements (including legislative base).
• Identify any environmental standards / requirements in relation to your assets.
• Gather quotes or estimates from potential suppliers.
• Identify different financing options (subject to the value of the asset and available budget). Financing options may include hire purchase, renting, leasing or purchasing.

You are to submit each proposal in terms of a financial report that details:

• Estimate acquisition costs based on evaluation of current, accurate and relevant data, including supplier quotations and estimates.
• Financing options including rates, application process, and value comparisons (cost benefit analysis).
• Includes a risk analysis for each purchase.
• The process you would undertake to implement the financing option chosen (in detail).
• Copies of appropriate finance application forms. (You are to complete each application form with the details of your Training Organisation).