Unit of competency Outline

Date retreived
23/07/2026 1:32 AM AWST

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Evaluate commercial viability of products

Evaluate commercial viability of products

Unit of competency
National Code
MSTGN6012
State Code
OEY72
TGA Status
Current
DTWD Status
Approved
Current Release Number
1.00
Current Release Date
22/12/2022
View on TGA
State Implementation and Classification
Approved Date
03/07/2023
Field of Education
080301 - Business Management
Original Release Date
03/07/2023
Nominal Hours
55
Description
This unit of competency describes the skills and knowledge required to evaluate the viability of products for commercial production and sale. It involves the evaluation of concepts and proposals against business goals, costing and production strategies and financial targets.This unit applies to individuals working in senior business, design and production roles.No licensing or certification requirements exist at the time of publication. Relevant legislation, industry standards and codes of practice within Australia must be applied.
Notes
Elements and Performance Criteria
1. Prepare to evaluate commercial viability
  • 1.1 Analyse current business plan and identify business objectives and financial targets to review business position
  • 1.2 Review business practices, past products and records of commercial success to assess relevance for future developments
  • 1.3 Identify workplace criteria for measuring commercial success of products
  • 1.4 Identify potential products and assess their ability to meet client or target market needs and expectations
  • 1.5 Analyse costing and production strategies and assess alignment of products to business goals and practices
2. Select products for commercial development
  • 2.1 Identify workplace criteria for selection of products
  • 2.2 Analyse products against selection criteria
  • 2.3 Consult with senior management in the selection process, providing evidence-based information to aid decision-making
  • 2.4 Determine which products will be developed based on analysis and consultation
3. Establish evaluation mechanism
  • 3.1 Establish financial targets for product development
  • 3.2 Implement monitoring systems to measure progress of production and return
  • 3.3 Evaluate product selection against commercial targets
  • 3.4 Document findings in accordance with workplace procedures
No information
No information
Replaces
State Code National Code Title Type
BAW50 MSTFD6001 Evaluate commercial viability of designs Unit of competency
State Code National Code Title Type
BIY2 MST60122 Advanced Diploma of Apparel, Fashion and Textiles Qualification