Course Title: Manage business resources

Part B: Course Detail

Teaching Period: Term2 2024

Course Code: BUSM6517C

Course Title: Manage business resources

Important Information:


Please note that this course may have compulsory in-person attendance requirements for some teaching activities. 

To participate in any RMIT course in-person activities or assessment, you will need to comply with RMIT vaccination requirements which are applicable during the duration of the course. This RMIT requirement includes being vaccinated against COVID-19 or holding a valid medical exemption. 

Please read this RMIT Enrolment Procedure as it has important information regarding COVID vaccination and your study at RMIT: https://policies.rmit.edu.au/document/view.php?id=209. 

Please read the Student website for additional requirements of in-person attendance: https://www.rmit.edu.au/covid/coming-to-campus 

 

Please check your Canvas course shell closer to when the course starts to see if this course requires mandatory in-person attendance. The delivery method of the course might have to change quickly in response to changes in the local state/national directive regarding in-person course attendance. 

See Canvas

School: 525T Business & Enterprise

Campus: City Campus

Program: C5406 - Diploma of Business

Course Contact: Steven Hansen

Course Contact Phone: +61 3 9925 5705

Course Contact Email: steven.hansen@rmit.edu.au


Name and Contact Details of All Other Relevant Staff

Course Leader: Alexandra Iliopoulos

Contact:alexandra.iliopoulos@rmit.edu.au

 

Nominal Hours: 80

Regardless of the mode of delivery, represent a guide to the relative teaching time and student effort required to successfully achieve a particular competency/module. This may include not only scheduled classes or workplace visits but also the amount of effort required to undertake, evaluate and complete all assessment requirements, including any non-classroom activities.

Pre-requisites and Co-requisites

None

Course Description

This unit describes the skills and knowledge required to manage resources according to planned business strategies. It includes analysing resource requirements, developing resource plans, allocating resources, and reviewing and reporting on resource usage.

The unit applies to individuals with a role in allocating and monitoring the use of physical and/or human resources to meet defined business objectives.

No licensing, legislative or certification requirements apply to this unit at the time of publication.


National Codes, Titles, Elements and Performance Criteria

National Element Code & Title:

BSBOPS501 Manage business resources

Element:

1. Analyse resource requirements

Performance Criteria:

1.1 Develop resource bids according to required outputs specified in business plans

1.2 Consult with relevant stakeholders and determine the nature and level of resources required

1.3 Analyse resource requirements and identify proposed costs and benefits

1.4 Identify opportunities to share resources across business units within the organisation

Element:

2. Develop resource plans

Performance Criteria:

2.1 Determine internal resourcing capabilities and external resourcing requirements

2.2 Develop procedures for the evaluation of resource allocation and incorporate them in resource plans

2.3 Identify risks and establish risk management processes

2.4 Obtain required approvals from relevant personnel

Element:

3. Allocate resources

Performance Criteria:

3.1 Identify and adhere to organisational policies and procedures for resource allocation

3.2 Manage resource allocation according to business unit objectives

3.3 Negotiate and obtain resources within required timeframe according to business unit objectives

3.4 Develop and implement systems for monitoring resource usage

Element:

4. Review and report on resource usage

Performance Criteria:

4.1 Develop and implement procedures to review resource allocation against business unit objectives

4.2 Suggest improvements to work practices for the efficient use of resources

4.3 Monitor compliance with program and project budgets and take corrective action where necessary

4.4 Prepare report that indicates the level of performance achieved and any action taken to adjust or rectify procedures in meeting service and product delivery standards

Learning Outcomes


This course is structured to provide students with the optimum learning experience in order to demonstrate the skills and knowledge required to manage resources according to planned business strategies.


Details of Learning Activities

Weekly in and after class activities have been developed for this course. Each activity is specifically designed to increase student knowledge and understanding of the application of key concepts covered throughout the unit.

Activities will include collaborative group and self-paced individual tasks developed to simulate real workplace environments and requirements.

All activities require participation and completion.


Teaching Schedule

Cluster Name

Finance and Resource Management

Unit 1

ACCT5434C – Manage budgets and financial plans

Unit 2

BUSM6517C – Manage business resources

Week Number

Topics

Assessments

1
  • Induction
  • Introduction to Unit and Educator
  • Unit guide
  • Elements of Competency – What will the unit/s cover
  • Overview of Assessments 1 – 3 and submission protocols
  • Subject protocols – methods of delivery/ facilitation
  • Required materials
  • Communication – LMS/email

Introduction to Financial Management

  • Introduction to financial and resource management
  • Planning for financial management

Complete activities available on canvas

After Class Activities

  • Set up Microsoft Office 365

Workshop Assessment Tasks

Overview of all assessments

 

 

2

Accounting and business concepts

  • Business Structures
  • Accounting concepts for financial management
  • The budgetary control system and budget development
  • Budget process, communication, and consultation
  • Supporting the financial management process

Complete activities available on canvas

Workshop Assessment Tasks

 

 

 

3

Understanding and clarifying budgets and financial plans

  • The role of budgets in financial and resource management
  • Budget differences based on business type
  • Using the budgets to measure organisational performance
  • Insights available from budgets in managing organisational risk

Complete activities available on canvas

Workshop Assessment Tasks

 

 

 

4

Analysing cost concepts and cost behaviour

  • Cost Classification and Concepts
  • Developing Budgets and Resource Plans
  • Legal and regulatory compliance including GST

Complete activities available on canvas

Workshop Assessment Tasks

 

 

 

5

Communication, Approvals and Risk Management

  •  Communication throughout the budget and resource planning process
  • Approvals and Stakeholders
  • Risk Management
  • Risk Treatments
  • Contingency Planning

Complete activities available on canvas

Workshop Assessment Tasks

 

 

 

6

Resource Procurement and Allocation

  • Identifying existing and shared resources
  • Allocation of resources
  • Skills Gap Analysis
  • Recruiting for Human Resources
  • Procurement for material and physical resources

Complete activities available on canvas

Workshop Assessment Tasks

 

 

Assessment Task 1 Role Play Observation

7

Implementation of Budgets and Business Resource Plans

  • Human Resource training and supports
  • Performance metrics and KPI's
  • Key Result Areas (KRA's)
  • Developing systems and processes for monitoring budget performance and resource usage

Complete activities available on canvas

Workshop Assessment Tasks

 

 

Assessment Task 1 Due

Mid Semester Break 2 Sep to 8 Sep

8

Monitoring Budgets and Business Resource Plans

  • Using systems and processes to monitor performance
  • Monitoring Procedures
  • Cost controls and compliance
  • Corrective measures
  • Risk registers and contingency plans

Complete activities available on canvas

Workshop Assessment Tasks

 

 

 

9

Resource Procurement, Risk Registers & Communication

  • Physical Procurement Processes
  • Lifecycle Management
  • Risk Registers
  • Communication
  • Negotiation & Conflict Resolution

Complete activities available on canvas

Workshop Assessment Tasks

 

 

10

Outsourcing and managing resources according to business unit objectives

  • Resources outside of the organisation
  • Outsourcing Drivers
  • Introduction to Core Capabilities
  • Outsourcing
  • Offshoring
  • Complete activities available on canvas

Workshop Assessment Tasks

Assessment Task 2 Review

 

Assessment Task 2 is due

11

Legislative & Regulatory Compliance

  • Work Health & Safety Standards
  • Corporate Social Responsibility
  • Managing & Monitoring Work Teams

Complete activities available on canvas

Workshop Assessment Tasks

 

 

12

Organisational Strategy

  • Links to core capabilities
  • Corporate Strategy
  • Operational Strategy
  • Cash Flow
  • Progress Reports

Complete activities available on canvas

Workshop Assessment Tasks

 

 

13

Understanding organisational capabilities

  • Organisational capabilities
  • Competitive advantage
  • VRIO Analysis
  • Balanced Scorecard
  • Evaluation of resource plans and budgets
  • Complete activities available on canvas

Workshop Assessment Tasks

 

 

14

Continuous Improvement

  • Understanding Continuous Improvement
  • Kaizen & Deming Cycle Frameworks
  • Case Studies
  • Complete activities available on canvas

Workshop Assessment Tasks

 

Assessment Task 3 is due

15

Assessment Task 3 Review and feedback session

  • This session will be dedicated to support, peer review, feedback, and recommendation regarding the quality of students' submissions.
  • This session will be moderated by your teacher synchronously (F2F or online).

Great participation and professional collaboration are expected so that all students will benefit constructively from this opportunity. 

 

16

 Resubmit and feedback session

This session will be dedicated to support, peer review, feedback, and recommendation regarding the quality of students' submissions.

 


Learning Resources

Prescribed Texts


References


Other Resources


Overview of Assessment

In order to achieve competency in this unit, you must provide:

Performance Evidence

The candidate must demonstrate the ability to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including evidence of the ability to:

  • develop, implement and review at least three resource plans.

In the course of the above, the candidate must:

  • 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
  • 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

The candidate must be able to demonstrate knowledge to complete the tasks outlined in the elements, performance criteria and foundation skills of this unit, including knowledge of:

  • 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.

Assessment Conditions

Skills in this unit must be demonstrated in a workplace or simulated environment where the conditions are typical of those in a working environment in this industry.

This includes access to:

  • relevant legislation, regulations, standards and codes
  • workplace documentation and resources.

Feedback

Feedback will be provided throughout the semester in class and/or online discussions.  You are encouraged to ask and answer questions during class time and online sessions so that you can obtain feedback on your understanding of the concepts and issues being discussed.  Finally, you can email or arrange an appointment with your teacher to gain more feedback on your progress.

You should take note of all feedback received and use this information to improve your learning outcomes and final performance in the course.


Assessment Tasks

This course is delivered as a cluster with ACCT5434C – Manage budgets and financial plans 

This course includes three (3) assessment tasks. All three (3) assessment tasks must be satisfactorily completed to achieve competency in the course. All assessment tasks are based on a simulated work environment provided via an organisational Case Study. All three assessment tasks will guide students through all the stages required to prepare 3 resource plans and financial budgets.

Assessment Task 1: Planning, conducting and communicating budgets and resource plans

Due Date:  Week 7

The purpose of this assessment is to allow students to demonstrate a range of skills and knowledge including their understanding of the following key areas:

  • Planning financial management approaches
  • Analysing resource requirements
  • Developing resource plans including the allocation of resources
  • Principles in risk, resource and legislative management and compliance.

This assessment will guide students through the planning, preparation and communication required when completing 3 resource plans and budgets for an organisation. The assessment is split into three parts where:

PART A: Resource Meeting Planning - Students will prepare budgets for a resource and finance planning meeting

Consisting of two (2) questions/tasks, this part of the assessment requires students to independently collate, analyse and complete resource planning and budget information. This will be reviewed during the resource plan meeting (Part B). 

PART B: Conduct the Resource Meeting  - Students will conduct a meeting to discuss the requirements of the budgets and resource plans. This will be an Observed Role Play.

In this part students will join with two other students to form a group of three. In each group students willconduct a role play of a resource plan meeting, where each resource plan will be discussed. Students will take it in turns to play the role of the resource manager and the remaining two students will support the discussion as the relevant department leads.

PART C: Communicate Meeting Outcomes - Students will communicate the outcomes of the resource meeting to all relevant parties.

Consisting of four (4) questions/tasks, this part of the assessment requires students to demonstrate their understanding of:

  • Communicating meeting outcomes
  • Addressing ATO and GST, legislative, accounting and risk management principles
  • Identifying resource acquisition and allocation processes
  • Identifying elements required to monitor usage of physical and human resources

Assessment Task 2: Case Study

Due Date: Week 10

The purpose of this assessment is to allow students to demonstrate a range of skills and knowledge including their understanding of the following key areas:

  • Planning, implementing and reviewing financial plans and resource management practices
  • Analysing resource requirements
  • Developing resource plans including the allocation of resources

This assessment task requires students to complete ten (10) questions/tasks based on a provided Case Study. The assessment is divided into three parts where:

Part A: Resource planning and Evaluation Framework - Students will be required to complete two (2) questions covering risk management, policies and resource planning concepts.

Part B: Determine resource requirements - Students will be required to complete four (4) questions specifically addressing the resource needs of the 3 required resource plans

Part C: Implement budgets and allocate resources - Students will be required to complete four (4) questions/tasks to implement the budgets and allocate resources required for the three resource plans.

Assessment Task 3: Progress Report

Due Date: Week 14

This is the third assessment required for this unit. 

The purpose of this assessment is to allow students to demonstrate a range of skills and knowledge including their understanding of the following key areas:

  • Implementing and reviewing financial plans and resource management practices
  • Developing resource plans including the allocation of resources
  • Reviewing, evaluating, and reporting on financial management plans and resource use

Assessment Task 3 is split into three parts:

PART A: Monitor and review resource and financial plans - Students are required to complete one (1) question addressing the monitoring and review procedures required for their three resource and finance plans.

PART B: Stingray Progress Report - Students are required to complete three (3) questions/ tasks required to report on the progress of their three finance and resource plans.

PART C: Implement review and evaluate financial and resource plan improvements - Students are required to complete three questions/tasks in evaluating their resource and finance plans.


Assessment Matrix

Other Information

All learning material and activities are provided in a week to week format. Students are required to attend scheduled classes having completed the required reading.

Course Overview: Access Course Overview