Elements and Performance Criteria

RANGE STATEMENT
The range statement relates to the unit of competency as a whole. It allows for different work environments and situations that may affect performance. Bold italicised wording, if used in the performance criteria, is detailed below. Essential operating conditions that may be present with training and assessment (depending on the work situation, needs of the candidate, accessibility of the item, and local industry and regional contexts) may also be included.
Human capital is the:
capital asset value of knowledge vested in the individual that can be deployed to maximise organisational and industry competitiveness
Capital asset value is the:
determination of the value a business may derive from any stock of assets it owns, which can be deployed to create income, or from which interest and future value can be derived
Organisational requirements may include:
access and equity principles and practices
business and performance plans
collaborative partnerships and arrangements
confidentiality requirements
defined resource parameters
ethical standards
goals, objectives, plans, systems and processes
legal and organisational policies, guidelines and requirements
OHS policies, procedures and programs
organisational sociocultural circumstances and issues (for example, within Indigenous organisations)
quality and continuous improvement processes and standards
quality assurance and procedures manuals
recording and reporting procedures
Organisation training needs profile may include:
areas where staff may require further development linked to the organisation's goals and reflect:
age profile
composition - full-time, part-time, casual
formal education and training backgrounds
gender ratio
language and cultural backgrounds
occupational groups
organisational change programs
roster and shiftwork arrangements
Key stakeholders may include:
customers
instructional designers
instructors
learners
management and staff
members of the public
peers
public agencies, especially regulators
suppliers and learning partners
Human capital needs analysis is the:
determination of the gap between the human capital an individual, group, organisation or wider grouping (e.g. society or industry) requires as opposed to what is currently available
Information and data analysis will usually occur through deployment of:
business technology
software applications able to assess human capital
analysis methods such as:
data sampling
feedback on results
peer review
qualitative and quantitative processes
review of previous research
statistical analysis
Options for the purposes of human capital development planning may include:
availability of resources, such as financial resources, and information technology and systems
consultancy services
developing in-house capacity to meet identified needs
identifying training or assessment organisations to meet needs
identifying specific units of competency, Australian Qualifications Framework (AQF) qualifications or skill sets to meet needs
time lines
urgency
Talent concerns the:
total potential an individual brings to an organisation within both current and future contexts
Capacity includes:
all innate and explicit competencies and capabilities able to be deployed to achieve desired outcomes in both current and future contexts

EVIDENCE GUIDE
The Evidence Guide provides advice on assessment and must be read in conjunction with the performance criteria, required skills and knowledge, range statement and the Assessment Guidelines for the Training Package.

Overview of assessment

Critical aspects for assessment and evidence required to demonstrate competency in this unit
Evidence of the following is essential:
accurate assessment of human capital value in an organisation through human capital analysis and measurement
documentation relating to data collection, and analysis of human capital and relationship to an organisation's knowledge management and human capital strategy
documentary evidence of human capital audit and production of a talent development plan
input from a wide range of sources providing evidence in respect to a broad range of activities and situations
knowledge of human capital audit and assessment.
Context of and specific resources for assessment
Assessment must ensure:
access to an actual workplace or simulated environment
competence is consistently demonstrated over time, and over a range and variety of situations
access to appropriate documentation and resources normally used in the workplace.
Method of assessment
A range of assessment methods should be used to assess practical skills and knowledge. The following examples are appropriate for this unit:
direct questioning combined with review of portfolios of evidence and third party workplace reports of on-the-job performance by the candidate
completion of applied projects or learning activities - such as examining the relationship between human capital and human resource development; knowledge and organisational learning; talent attraction and development; and human capital and organisational agility
completion of an action research project isolating the relationship of human capital to an organisation's intellectual and knowledge capital
direct observation of contextual application of skills
oral or written questioning to assess knowledge of methods to value human capital.
Guidance information for assessment
Holistic assessment with other units relevant to the industry sector, workplace and job role is recommended, for example:
BSBFIM701A Manage financial resources
BSBLED702A Lead learning strategy implementation
PSPHR616A Manage performance management system
PSPMNGT614A Facilitate knowledge management.