RGIT - SITXFIN005: Manage Physical Assets Student Assessment Booklet

This document is a student assessment booklet for the unit SITXFIN005, focusing on managing physical assets within an organization. It outlines the application of the unit, its purpose, and the elements, performance evidence, and knowledge evidence required for competency. The assessment includes a knowledge test, worksheets, and a project, all designed to evaluate the student's ability to develop maintenance programs, monitor asset conditions, and coordinate asset acquisition and financing. The booklet details assessment conditions, required resources, and the assessment tasks, including instructions, resources, and submission guidelines. It also covers administration, recording, and reporting requirements, emphasizing the importance of academic integrity and the process for extensions and reassessments. The assessment tasks require students to demonstrate understanding of business objectives, asset types, maintenance requirements, and financing options. Students are expected to submit their original work and adhere to the specified due dates and submission methods. RGIT conducts the assessment in its classrooms, and the assessment is aligned to the standards for registered training organizations. Successful completion of the assessment tasks leads to competency in managing physical assets. This document is available on Desklib, a platform providing AI-based study tools for students.

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SITXFIN005 - Manage physical
assets Student Assessment
Booklet
Version 3.0

SITXFIN005
Student Assessment
Booklet
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SITXFIN005
Student Assessment
Booklet ASSESSMENT RECEIPT FORM
STUDENT NAME:
STUDENT ID:
COURSE CODE:
COURSE TITLE:
TRAINER’S/ASSESSOR’S
NAME:
ISSUE DATE:
DUE DATE:
UNIT CODE AND
DESCRIPTION
SITXFIN005- MANAGE PHYSICAL ASSETS
NOTE:
1. This form must be stapled on top of the Assessment Workbook upon submission.
2. This Assessment Receipt Form must be dated and signed in.
DECLARATION
1. I am aware that penalties exist for plagiarism and academic dishonesty.
2. I am aware of the requirements set by my Trainer/Assessor.
3. I have retained a copy of my Assessment.
Student Signature: Date:
ASSESSMENT RECEIVED BY RGIT Staff
Name:
Date:
Signature:
================================= Tear Here
===========================
Students must retain this as a Record of
Submission. Assessment Handed On:
Unit Code & Description: SITXFIN005- MANAGE PHYSICAL ASSETS
RGIT Student
Assessment Received by
RGIT Staff Name: …………………...……...
Signature: …………...…..…………..…...
Student ID: .................................................
Student Signature: ….……………..…….
Page: 3 of 64

SITXFIN005
Student Assessment
Booklet
This assessment booklet and tool has been designed for students undertaking face to face
mode of study to provide information before students take assessments and contains
assessment tools to assess the skills and knowledge required from students to be deemed
competent in this unit.
This booklet might not be suitable for students taking other modes of study e.g. online or work
based.
Please read all the information given to you when you receive this assessment booklet. If you
do not understand any part of this booklet, please inform your assessor/trainer.
The assessment booklet contains two (2) parts:
PART 1: Assessments information: This part contains information on assessments for this
unit of competency and how assessment will be conducted throughout the unit to achieve the
competency. It includes:
 Application of the unit of competency.
 Purpose of assessment.
 Elements, performance evidence and knowledge evidence requirements of the unit.
 Conditions, context, required resources and location of the assessment.
 Assessment tasks.
 Outline of evidence to be collected.
 Administration, recording and reporting the requirements including special
adjustments, appeals, reasonable adjustments and assessors’ intervention.
PART 2: Assessment tasks: This part contains the information to successfully undertake
the assessment task. In each assessment task, students will find the following information:
 Task instructions.
 Role play / Practical Demonstration information.
 Information on resources required, where applicable
 Appendix1- Assessment resource in RGIT Kitchen
ABOUT THIS
BOOKLET

SITXFIN005
Student Assessment
Booklet
PART 1
Assessment Information

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Student Assessment
Booklet
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Application of the unit of competency:
This unit describes the performance outcomes, skills and knowledge required to manage the
physical assets of an organization. It requires the ability to establish systems and practices
for asset monitoring, maintenance and acquisition.
It applies to senior managers who operate with significant autonomy and who are
responsible for making a range of strategic management decisions.
The unit applies to all tourism, hospitality and event sectors.
No occupational licensing, certification or specific legislative requirements apply to this unit
at the time of publication.
Purpose of assessment:
The purpose of assessment is to determine competency in the unit SITXFIN005 -
MANAGE PHYSICAL ASSETS
Elements
Element
s
Elements Title
1 Develop practices for systematic maintenance, repair and purchase
of physical assets.
2 Monitor the condition and performance of physical assets
3 Coordinate financing and purchase of physical assets
Performance evidence:
Evidence of the ability to complete tasks outlined in elements and performance criteria of
this unit in the context of the job role, and:
 develop a plan for the acquisition, maintenance and replacement of at least
three different types of physical assets listed in the knowledge evidence
 demonstrate procedures to:
- monitor the utility of above assets to meet business needs
- provide regular financial reports on the assets
- record formal and informal customer and staff feedback
- integrate day-to-day condition reports
- schedule internal or external inspections or audits
- schedule management reports
- develop and maintain a current register for the above assets.

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Student Assessment
Booklet
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Knowledge Evidence
Demonstrated knowledge required to complete the tasks outlined in elements
and performance criteria of this unit:
 business objectives relevant to the management of physical assets:
 profitability
 growth
 providing quality products and services to customers
 adhering to:
 codes of conduct
 environmental sustainability philosophies and practices
 industry accreditation schemes
 types of physical assets required by tourism, hospitality and event organizations
and the organization in particular:
 buildings
 computer systems
 equipment fixtures, fittings and furniture in one of the following:
 accommodation establishments
 commercial kitchens
 restaurants and bars
 storage areas
 tourism, hospitality and event offices
 transportation depots
 gardens
 pools
 rides and games
 vehicles
 vessels
 maintenance requirements for different types of physical assets
 considerations for long-term assessment of physical assets:

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Student Assessment
Booklet
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 ability to meet business objectives
 cost of maintenance over a period of time
 customer and staff feedback
 input from specialists where required
 operational efficiency
 safety
 equipment specifications to guide acquisition process:
 budget parameters
 environmental sustainability policies for the business
 floor plans
 numbers and types of required equipment fixtures, fittings and furniture
 operational performance requirements:
 efficiency
 customer traffic
 staff usage
 types of products and services offered by the business
 formats for and inclusions of asset registers specified in performance evidence
 features and benefits of different financing options for asset acquisition:
 hire purchase
 lease
 purchase
 rent
 depreciation that can be applied to different types of physical assets
 data used in the estimation of asset acquisition:
 current maintenance contracts
 estimates and quotations from suppliers
 previous contracts and costs
 published or advertised prices
 practices to support environmental sustainability using different types of physical assets.

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Student Assessment
Booklet
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Assessment Conditions
To comply with the assessment condition of this unit:
 Students must demonstrate adequate skills and knowledge evidence by providing a
satisfactory outcome for each assessment task. They will be marked against the
recommended model answers in this trainer and assessor guide.
 Students will have access to current commercial purchase specifications, supplier
product and cost information, and contractual documentation used for the purchase of
assets. (Please refer Appendix1 at the end of this assessment tool for detailed list of
assessment resources)
 RGIT will conduct practical assessment for this unit in its class rooms and operational
training environment either at 28-32 Elizabeth Street Melbourne VIC 3000 or at Level
3, 162 Macquarie Street Hobart, TAS 7000, where student will manage physical
assets.
 Please refer Appendix1 at the end of this assessment tool for detailed list of
assessment resources.
 Knowledge assessment for this unit will be conducted at RGIT Classrooms
All RGIT assessor those are assessing this unit will satisfy the requirements specified in Standards
for
Registered Training Organizations’ requirements for assessors.
Resources Required:
The assessor will ensure that assessment is conducted in a safe environment and you have
access to the following resources for the unit.
- Computers with access to internet and printers.
- DIDASKO learner guide for unit SITXFIN005.
Clustering/holistic assessment:
There is no provision for clustering of assessments in this unit.
Competency Requirements:
To be judged competent in this unit, you will be required to demonstrate all indicators which are
shown in the Marking Guide (assessor’s document).
You must satisfactorily complete all assessment tasks to be Competent (C) in the unit.
Students with unsatisfactory completion of any of the assignment tasks will be deemed Not
Yet Competent (NYC).
Assessors will ensure that the evidence collected meets the requirements of the Rules of
Evidence (authentic, current, sufficient and valid) prior to entering results into the
competency record sheet.
Students unsuccessful at achieving “Satisfactory” for any assessment at the first attempt will
be given two opportunities for reassessment. If the student is still deemed Not Yet
Competent (NYC) after two reassessments in a unit of competency student will be required
to repeat the unit as per the scheduled delivery of the course. For further details, refer to
RGIT Re-Assessment Policy and RGIT Course Progress Policy.

SITXFIN005
Student Assessment
Booklet
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Assessment tasks Assessment description Location of
assessmen
t
Assessment
Task 1 (AT1) –
Knowledge Test
You are required to choose the correct option(s)
from the choices given for the questions and
present your assignment in a clear and
professional manner.
Needs to be
completed in
virtual
classroom
during Covid-19
period
Assessment
Task 2 (AT2) –
Worksheets
This assessment task is short answer question
which demonstrates that Students have the
required knowledge to Manage physical assets.
Needs to be
completed in
virtual
classroom
during Covid-19
period
Assessment
Task 3 (AT3) –
Project
This is a project-based task which requires you to
develop, implement and monitor a maintenance
program and coordinate the acquisition of
physical assets.
Needs to be
completed in
virtual
classroom
during Covid-19
period
Assessment Task:
To achieve competency in this unit, you must satisfactorily complete all the following
assessment tasks within the date and time specified in the session plan. This will
demonstrate that you have all the required skills and knowledge for this unit.
Outline of evidence to be collected:
You must submit the following evidence to be marked competent for this unit. Your
assessor will ensure that the evidence submitted meets the Rules of Evidence which are
valid, sufficient, current and authentic.
Assessment
Task 1 (AT1) –
Knowledge Test
 Completed knowledge test with questions answered and
submit to your assessor electronically or paper-based.
 Complete and sign the cover sheet for assessment task.
Assessment
Task 2 (AT2) –
Worksheets
 Answer all the questions correctly in the Written Knowledge
Questions and submit to your assessor electronically or paper-
based.
 Complete and sign the cover sheet for assessment task.
Assessment
Task 3 (AT3) –
Project
 develop, implement and monitor a maintenance program
and coordinate the acquisition of physical assets.
 Complete all three tasks
 Answer all questions
Administration, recording and reporting requirements:
You must read and follow this information carefully while completing assessments for this unit of
competency and if you are unsure of any instruction, please contact your assessor to clarify.

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Student Assessment
Booklet
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The assessments are intended to be equitable, fair and flexible.

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Student Assessment
Booklet
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64
Submission of assessment:
You must ensure that the completed assessment tasks are submitted along with the
assessment cover sheet:
 Your assessor will mark the submitted assessment, provide feedback to you and
complete the comments section against each task, where applicable.
 ALL tasks must be completed in legible English. It is preferred that the tasks submitted
for assessments are typed and that they are legible and clear, if handwritten.
 You must submit all assessments on or before the due date specified by the assessor
as per the training plan.
 Extensions for individual assessment tasks may be negotiated in specific
circumstances with your assessor/trainer. However, you need to provide genuine
evidence/documents when seeking an extension (e.g. extensions due to illness will
require a medical certificate). To arrange an extension, you must speak to your
assessor prior to the due date. Extensions must be confirmed by the trainer in writing.
 You are permitted to use dictionaries and to seek support (as required) unless it puts
in jeopardy the integrity of the assessment. Your assessor will let you know if this is
the case.
 Unless the assessment task specifically allows working in pairs or group activities such
as brainstorming, you must submit your own original work and must not copy the work
of other students. Plagiarism is unacceptable.
 You can submit your assessment tasks through the learning management system or
hand in hard copies in the classroom.
Recording an assessment result:
Once the assessments have been completed, the assessor will record the assessment results
on the student assessment record sheets and LMS/student management system and all
results will be approved by the course coordinator.
Assessors will check that you have completed the student declaration prior to filling
out the assessment sheet.
Retaining assessment records:
RGIT will securely retain all completed student assessment items for each student for a
period of six months from the date on which the judgement of competence for the student
was made.
RGIT will also retain sufficient data to be able to reissue AQF certification documentation
for a period of 30 years.
All assessment records submitted to the assessor for marking will be stored and retained
properly. And a hard copy will be submitted to student administration for filing along with
the evidence.
The assessor will ensure that the student records are securely retained in accordance
with the RGIT record control policy accessible by the Student Administration Officer.