Manage Physical Assets in Hospitality Management - Assessment Task 2

AIC- SITXFIN005-AT1-V1.0 Page 1 of 21
Australian Ideal College
Registered as Australian Ideal College Pty Ltd
RTO No.: 91679 | CRICOS Provider Code: 03053G
Sydney Campus: Level 7 & 8, 75 King Street, Sydney NSW 2000 Australia
Adelaide Campus: Level 3, 21-23 Rundle Mall, Adelaide SA 5000 Australia
Hobart Campus: GRD Floor, 116 Murray Street, Hobart TAS 7000 Australia
T: [phone] (Sydney) | [phone] (Adelaide) | [phone] (Hobart)
E: [e-mail] | W: www.aic.edu.au
Educating for Excellence
Assessment Submission Sheet
Course SIT60316 Advanced Diploma of Hospitality Management
Unit Code SITXFIN005
Unit Name Manage physical assets
Assessor
Name
Student
Name
Student ID
Date Due
Please read and sign this assessment coversheet and submit it together with your assessment to
your Assessor by the due date.
Student Declaration
 I declare that the work submitted is my own, and has not been copied or plagiarised from any
person or source.
 I have read the Plagiarism Policy and Assessment Appeal and Reassessment Policy in the
Student Handbook and I understand all the rules and guidelines for undertaking assessments.
 I understand that by typing my full name in the student field this is equivalent to a hand-written
signature.
 I give permission for my assessment material to be used for continuous improvement purposes.
Student
Signature
Date
Submitted
Assessor Use Only
Assessment Items Result
Task 1 Assessment Task 1 – Short Answers S NS
Task 2 Assessment Task 2 – Project S NS
Overall result for this unit C NYC
Student Declaration: I declare that I have
been assessed in this unit, and I have been
advised of my result. I am also aware of my
appeal rights.
Assessor Declaration: I declare that I have
conducted a fair, valid, reliable and flexible
assessment with this student, and I have
provided appropriate feedback
Signature Signatur
e
Date

AIC- SITXFIN005-AT1-V1.0 Page 2 of 21
Australian Ideal College
Registered as Australian Ideal College Pty Ltd
RTO No.: 91679 | CRICOS Provider Code: 03053G
Sydney Campus: Level 7 & 8, 75 King Street, Sydney NSW 2000 Australia
Adelaide Campus: Level 3, 21-23 Rundle Mall, Adelaide SA 5000 Australia
Hobart Campus: GRD Floor, 116 Murray Street, Hobart TAS 7000 Australia
T: [phone] (Sydney) | [phone] (Adelaide) | [phone] (Hobart)
E: [e-mail] | W: www.aic.edu.au
Educating for Excellence
Assessor’s Comments

AIC- SITXFIN005-AT1-V1.0 Page 3 of 21
Australian Ideal College
Registered as Australian Ideal College Pty Ltd
RTO No.: 91679 | CRICOS Provider Code: 03053G
Sydney Campus: Level 7 & 8, 75 King Street, Sydney NSW 2000 Australia
Adelaide Campus: Level 3, 21-23 Rundle Mall, Adelaide SA 5000 Australia
Hobart Campus: GRD Floor, 116 Murray Street, Hobart TAS 7000 Australia
T: [phone] (Sydney) | [phone] (Adelaide) | [phone] (Hobart)
E: [e-mail] | W: www.aic.edu.au
Educating for Excellence
Task 1
Assessment Instructions
This is an individual assessment. Please understand the questions before you start answering them.
Ask your trainer of you are unsure of any questions.
To be deemed competent you will need to successfully demonstrate the following:
You must submit:
 All questions must be answered satisfactorily
Procedure
1. How can the following business objectives influence the methods used for
managing physical assets in an organisation? Provide 1 example for each:
 Profitability
It is one of the main and the key goal of any organisation to remain in the market and attain
more physical assets. The rate of return of the capital which is invested is to be generated
and the total cost should be identified before taking any decision.
 Growth
It is expanding the business economically and in monetary terms as well. For this, the
lifecycle of the products and the utilization of the assets should be considered by checking on
the amount of work that is performed in the organization (Chattopadhyay, 2021).
 Providing quality products and services to customers
The resources, for example, furniture and offices accordingly impact the conceivable rating
that can be acquired. Essential arrangements will bring about a lower rating, which will affect
the value that can be placed on a room. Spending more and guaranteeing customary upkeep
exercises are done can bring about a higher rating, which will then, at that point, permit a
more exorbitant cost to be charged. The profit from speculation again should be determined
cautiously

AIC- SITXFIN005-AT1-V1.0 Page 4 of 21
Australian Ideal College
Registered as Australian Ideal College Pty Ltd
RTO No.: 91679 | CRICOS Provider Code: 03053G
Sydney Campus: Level 7 & 8, 75 King Street, Sydney NSW 2000 Australia
Adelaide Campus: Level 3, 21-23 Rundle Mall, Adelaide SA 5000 Australia
Hobart Campus: GRD Floor, 116 Murray Street, Hobart TAS 7000 Australia
T: [phone] (Sydney) | [phone] (Adelaide) | [phone] (Hobart)
E: [e-mail] | W: www.aic.edu.au
Educating for Excellence
 Adhering to:
1. codes of conduct
2. environmental sustainability philosophies and practices
Outside impacts may likewise be viewed as while settling on essential resource the board
choices. Industry Codes of Conduct and Accreditation Schemes might direct somewhat the
way that choice should be made. For instance, the Star Ratings Australia Accommodation
Classification Scheme covers a wide reach of accommodation and comprises appraisals from
one to five stars in Australia and New Zealand. One star offers clean fundamental
convenience, while five stars demonstrate exceptional worldwide guidelines.
 Industry accreditation schemes
When a major amount of capital is invested in the business, certain research is done before
investing. The expenditure which is to be made for the improvement in the organization is to
be justified strategically.

AIC- SITXFIN005-AT1-V1.0 Page 5 of 21
Australian Ideal College
Registered as Australian Ideal College Pty Ltd
RTO No.: 91679 | CRICOS Provider Code: 03053G
Sydney Campus: Level 7 & 8, 75 King Street, Sydney NSW 2000 Australia
Adelaide Campus: Level 3, 21-23 Rundle Mall, Adelaide SA 5000 Australia
Hobart Campus: GRD Floor, 116 Murray Street, Hobart TAS 7000 Australia
T: [phone] (Sydney) | [phone] (Adelaide) | [phone] (Hobart)
E: [e-mail] | W: www.aic.edu.au
Educating for Excellence
3. Provide 8 examples for different types of physical assets required by
tourism, hospitality and event organisations:
Responses
1. Computer Systems
2. Gardens and related equipment's
3. Pools
4. Furniture's Fitting
5. Buildings
6. Equipment’s and Machinery
7. Games and rides
8. Swimming Pools
1. List 5 physical assets relevant to your workplace or training and provide the
maintenance details typically required for each:
Physical asset Maintenance requirements
1. Furniture’s and Fittings The standard of the furniture should match with
the interior and the space should be utilized
innovatively and stylishly.
2. Buildings Guests expect high-quality services from the
restaurant.
3. Computer Systems The voucher requirement with proper names
and the entries should be filled and stored with
full security.
4. Equipment and machinery The vessels and the crockery which are
essential for the making of the deliveries should
be utilized with full potential by maintaining the
quality standard.
5. Games and rides The fun zone should be made available so that
the customers could find the organization more
attractive.

AIC- SITXFIN005-AT1-V1.0 Page 6 of 21
Australian Ideal College
Registered as Australian Ideal College Pty Ltd
RTO No.: 91679 | CRICOS Provider Code: 03053G
Sydney Campus: Level 7 & 8, 75 King Street, Sydney NSW 2000 Australia
Adelaide Campus: Level 3, 21-23 Rundle Mall, Adelaide SA 5000 Australia
Hobart Campus: GRD Floor, 116 Murray Street, Hobart TAS 7000 Australia
T: [phone] (Sydney) | [phone] (Adelaide) | [phone] (Hobart)
E: [e-mail] | W: www.aic.edu.au
Educating for Excellence
2. List 6 key aspects which must be considered for the long-term assessment
of physical assets in terms of nature of requirements and necessity of
acquisition. Who could be typically involved in this in terms of feedback
and specialist advice?
Responses
1. Value of asset
2. Depreciation
3. Life - cycle
4. Cost - benefit analysis
5. Maintenance
6. Planning for the short and long haul of period
Involvement
The asset administration for the sustainability requires the planning for considering all the
implications that the business can suffer. The management have to be teamed up by ensuring
that the work should be completed by giving a valid amount of time (Wolfenden and et.al.,
2019).
1. The following are parameters which are used to guide the acquisition of
physical assets. Provide examples and details for what should be
considered, for each aspect.
Budget parameters
Is there already a budget set aside for this purchase? Is the chosen item under the monetary
capacity? If there is anything that needs to be reformed in the budget to support the
investment? What effect will this have on the company's other operational areas?
Environmental sustainability policies for the business
Asset purchases should be consistent with the company's environmental laws. To guarantee
that the right assets are picked, standards should indeed be prepared that detail carbon,
economization, and ongoing resource utilization, among other things.
Site plans
Physical limits, such as access point measurements or quiet areas for just a piece of
machinery to fit, may need to be addressed. Understanding how well the commodity will be
utilized in the company or whether it will improve or integrate into the process is critical. A new
collection of kitchenware, for example, may have to integrate into a specific region of the
restaurant so that it would not obstruct employee movement or item workflow.
Auxiliary items
Alternative scenarios for a specific asset might have to be investigated for additional related
goods that need to be purchased, preserved, or fitted. Decorations, accessories, and
equipment may be necessary to complete or improve the core property.
Performance requirements
If the resource is to be utilized in a develop a protocol or as a component of such a core
service, it will have to figure out the appropriate output levels as well as other elements of its
functioning. Aspects like the number of products produced every hour, the speed with which
operations are carried out, and the efficiency with which they are carried out are all factors to
consider.
Suitability to products and services offered