Course Title: Manage business resources
Part B: Course Detail
Teaching Period: Term2 2022
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: C5407 - Diploma of Leadership and Management
Course Contact: Anahita (Annie) Barry
Course Contact Phone: +61 3 9925 5943
Course Contact Email: anahita.barry@rmit.edu.au
Name and Contact Details of All Other Relevant Staff
Sam Menai Course Leader
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 time-frame 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
A range of learning activities are planned for this course including self-paced and collaborative classroom based activities.
The collaborative classroom based activities will include group discussion, group problem solving activities and opportunities to practice your skills in a simulated/real workplace environment. The learning activities include chapter review questions, case study, H5P weekly activities and imbedded
We expect you to participate and contribute in all scheduled learning activitie
Teaching Schedule
No | Date |
Topic / Activities (including any pre-reading and required pre-session activities) |
Assessment |
1 |
04/07/22
|
Introduction to Financial Management
Ø Complete activities available on canvas Ø Review questions Ø Self-quiz Ø Chapter case study Ø H5P Activities |
Start working on your Assessment task 1 (Knowledge Questions)
Start working on your Assessment task 2 (Short answers portfolio) |
2 |
11/07/22 |
Accounting and business concepts
Ø Complete activities available on canvas Ø Review questions Ø Self-quiz Ø Chapter case study Ø H5P Activities |
|
3 |
18/07/22 |
Understanding cost concepts and cost behaviour
Ø Complete activities available on canvas Ø Review questions Ø Self-quiz Ø Chapter case study Ø H5P Activities |
Submit two (2) questions from your Assessment task two (short answers portfolio) |
4
|
25/07/22 |
Understanding and clarifying budgets and financial plans
Ø Complete activities available on canvas Ø Review questions Ø Self-quiz Ø Chapter case study Ø H5P Activities |
|
5 |
01/08/22 |
Leveraging resources and capabilities
Ø Complete activities available on canvas Ø Review questions Ø Self-quiz Ø Chapter case study Ø H5P Activities |
Submit two (2) questions from your Assessment task two (short answers portfolio)
Start working on your Assessment task three |
6 |
08/08/22 |
Communication of budgets, resources and financial plans
Ø Complete activities available on canvas Ø Review questions Ø Self-quiz Ø Chapter case study Ø H5P Activities |
|
7
|
15/08/22 |
Monitoring and controlling financial performance and resources allocation
Ø Complete activities available on canvas Ø Review questions Ø Self-quiz Ø Chapter case study Ø H5P Activities |
Submit two (2) questions from your Assessment task two (short answers portfolio)
Assessment task one (Knowledge questions) is due this week 7, Sunday at 23:59 |
8 |
22/08/22 |
Implementing financial management and resources management approaches
Ø Complete activities available on canvas Ø Review questions Ø Self-quiz Ø Chapter case study Ø H5P Activities |
|
|
|
Mid-semester break 19/08 to 04/09 |
|
9 |
05/09/22 |
Allocate resources according to business unit objectives
Ø Complete activities available on canvas Ø Review questions Ø Self-quiz Ø Chapter case study Ø H5P Activities |
Submit two (2) questions from your Assessment task two (short answers portfolio) |
10 |
12/09/22 |
Planning for contingencies
Ø Complete activities available on canvas Ø Review questions Ø Self-quiz Ø Chapter case study Ø H5P Activities |
|
11 |
19/09/22 |
Evaluating financial management process
Ø Complete activities available on canvas Ø Review questions Ø Self-quiz Ø Chapter case study Ø H5P Activities |
Submit two (2) questions from your Assessment task two (short answers portfolio) |
12 |
26/09/22 |
Review and report on resources usage
Ø Complete activities available on canvas Ø Review questions Ø Self-quiz Ø Chapter case study Ø H5P Activities |
|
13 |
03/10/22 |
Work integrated project Construct a Master Budget for a manufacturing business Group work simulation session (Your Educator will provide you with further information at the start of this course) |
|
14 |
10/10/22 |
Work integrated project Construct a Master Budget for a manufacturing business Group work simulation session (Your Educator will provide you with further information at the start of this course) |
Submit last two (2) questions from your Assessment task two (short answers portfolio)
|
15 | 17/10/22 | Assessment task review session |
Assessment task three (Case study) is due this week 15, Sunday at 23:59 Submit one (1) question from your Assessment task two (short answers portfolio) |
16 | 24/10/22 | Feedback, Resit and resubmit |
|
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 co-delivered and co-assessed with ACCT5434C Manage budgets and financial plans
There are three assessment tasks for this course. To be deemed competent students must successfully achieve competency in each task.
Assessment Task 1 : In class/online Open Book Knowledge Questions
Due Date: End of Week seven of this course.
Purpose:
This assessment is Assessment Task one (1) of three (3) assessment tasks in this course: BSBFIN501 Manage Budgets and Financial plans. All three (3) assessment tasks must be satisfactorily completed to be deemed competent in these two courses.
The purpose of this assessment is to create an environment where you can demonstrate your understanding and application of a range of business resources management skills and team leadership and participation skills.
You will be required to analyse business resources requirement, review and report on resource usage, review company performance and recommend strategies, plan financial management approaches, monitor and control finances, review and evaluate financial management processes, identify and explain relevant legislations.
This assessment will allow you to demonstrate your ability to understand and apply basic accounting knowledge and tax requirements, budgeting process, costing and simple management accounting concepts. By completing this assessment you will be equipped with the basic knowledge and skills to tackle more complex scenarios in this unit.
This short-answer assessment task is one of three assessment tasks you need to complete satisfactorily, in order to be deemed competent for this unit.
Assessment Task 2 : Short answers Portfolio
Due Date: End of Week fifteen of this course.
Purpose:
This assessment is Assessment Task two (2) of three (3) assessment tasks in this course: BSBFIN501 Manage Budgets and Financial plans. All three (3) Assessment Tasks must be satisfactorily completed to be deemed competent in these two courses.
The purpose of this assessment is to for you to demonstrate your understanding and application of a range of financial planning approaches. This includes monitoring and controlling budgets and financial plans, reviewing and evaluating financial management process and business resources. You will be required to analyse business resources requirement, conduct variance analysis, review and report on resource usage, review company performance and develop contingency plans, and collaboration with their team members.
This Assessment will also allow you to Prepare & present data in format that is easily understood, accurate and appropriate to budget reporting, complying with organisational policy and procedures.
Assessment Task 3 : Practical Case Study
Due Date: End of Week fifteen of this course.
Purpose:
This assessment is Assessment Task three (3) of three (3) assessment tasks in this course: BSBFIN501 Manage Budgets and Financial plans. All three (3) assessment tasks must be satisfactorily completed to be deemed competent in these two courses. The purpose of this assessment is to assess your understanding and application of a range of business resources management skills and team leadership and participation skills. You will demonstrate your skills and knowledge in analysing resource requirements and developing resource plans/bids. You will also be required to allocate resources and review and report on resource usage
This assessment will allow you to demonstrate your ability to monitor, analyse and report on a team budget. It will also allow you to monitor, analyse and report on Cash Flows and Contingency plans.
By completing this assessment you will be equipped with advanced knowledge and skills required in budgeting management and financial plans.
Assessment Conditions
As a minimum, assessors must satisfy applicable regulatory requirements, which include requirements in the Standards for Registered Training Organisations, current at the time of assessment.
As a minimum, assessment must satisfy applicable regulatory requirements, which include requirements in the Standards for Registered Training Organisations, current at the time of assessment.
Assessment must occur in workplace operational situations where it is appropriate to do so; where this is not appropriate, assessment must occur in simulated workplace operational situations that replicate workplace conditions.
Assessment processes and techniques must be appropriate to the language, literacy and numeracy requirements of the work being performed and the needs of the candidate.
Resources for assessment include:
- a range of relevant exercises, case studies and/or other simulations
- relevant and appropriate materials, tools, equipment and personal protective equipment currently used in industry
- applicable documentation including workplace procedures, regulations, codes of practice and operation manuals.
Assessment Matrix
he competency assessment map that maps all the assessment tasks is available on CANVAS mapping document
Submission Requirements
You should:
- Ensure that you submit assessments on or before the due date.
- Always retain a copy of your assessment tasks. (hard copy and soft copy)
- When you submit work for assessment at RMIT University you need to use the Assessment task document that includes a declaration and statement of authorship.
- Each page of your assessment should include a footer with your name, student number, the title of the assessment, unit code and title and page numbers.
Late Submission Procedures
You are required to submit assessment items and/or ensure performance based assessment is completed by the due dates.
If you are prevented from submitting an assessment item on time, by circumstances outside your control, you may apply in advance to your teacher for an extension to the due date of up to seven calendar days.
More Information: https://www.rmit.edu.au/students/student-essentials/assessment-and-exams/assessment/extensions-of-time-for-submission-of-assessable-work
Where an extension of greater than seven days is needed, you must apply for Special Consideration. You must submit your application within five working days after your assessment date or due date.
More Information: https://www.rmit.edu.au/students/student-essentials/assessment-and-exams/assessment/special-consideration
Re-submissions (VE Programs):
If you are found to be unsuccessful (Not satisfactory/Unsatisfactory) in a Course Assessment Task you will be allowed one re-submission. Your teacher will provide feedback regarding what you need to do to improve and will set a new deadline for the re-submission.
If you are still not meeting the assessment requirements you must apply to your Program Manager in writing outlining the steps you will take to demonstrate competence in your course. Your submission will be considered by the Program Team and you will be advised of the outcome as soon as possible.
Adjustments to Assessment
In certain circumstances students may be eligible for an assessment adjustment. For more information about the circumstances under which assessment arrangements might be granted please access the following website:
Final Results
You must demonstrate that you have all the required skills/knowledge/elements in the unit of competency you are studying.
You will receive feedback on each assessment task that will inform you about your progress and how well you are performing.
The following grades are available for this course:
CA |
Competency Achieved |
NYC |
Not Yet Competent |
DNS |
Did Not Submit for Assessment |
Course Overview: Access Course Overview