Unit of competency Outline
Date retreived
23/07/2026 7:03 AM AWST
23/07/2026 7:03 AM AWST
Whilst all efforts are made to provide accurate and timely information from the relevant source/documentation, please be aware that the information supplied may not be the most current version. The accuracy of the detail has not been confirmed by the Department and therefore should not be relied upon without first confirming the contents.
Manage revenue
Manage revenue
Unit of competency
National Code
SITXFIN602
SITXFIN602
State Code
WF778
WF778
TGA Status
Replaced
Replaced
DTWD Status
Replaced
Replaced
State Implementation and Classification
Approved Date
14/02/2014
Field of Education
080301 - Business Management
Original Release Date
14/02/2014
Nominal Hours
20
Description
This unit describes the performance outcomes, skills and knowledge required to make, implement and monitor pricing decisions to maximise yield and business profitability.
Notes
Elements and Performance Criteria
1. Analyse and forecast business activity.
- 1.1 Analyse existing performance data and budget targets.
- 1.2 Interrogate and compare sources of business activity from different distribution channels and market segments.
- 1.3 Evaluate external market factors, competitor activity and changing customer demand patterns.
- 1.4 Develop scenarios and forecasts around future business performance and revenues.
2. Make pricing decisions.
- 2.1 Confirm nett delivery costs, both fixed and variable.
- 2.2 Review and incorporate distributor commissions or mark ups.
- 2.3 Set standard and promotional rates for different times, trading periods and market segments based on analysis of forecasts and pricing options and optimum yield.
- 2.4 Assess the need for special conditions and apply as required.
- 2.5 Clearly and accurately document pricing structures and associated terms and conditions with consideration of consumer protection requirements.
3. Implement pricing decisions.
- 3.1 Communicate pricing initiatives to colleagues and to internal and external partners and distribution channels.
- 3.2 Establish mechanisms and collateral to support pricing decisions in different market segments.
4. Monitor pricing initiatives.
- 4.1 Monitor revenue results achieved through pricing and distribution initiatives on a timely basis.
- 4.2 Adjust initiatives based on results and broader business and market analysis.
- 4.3 Record performance data for future analysis.
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.
Special conditions may include:
block out dates
inclusions
payment requirements
stay controls.
Internal and external partners may include:
external organisations:
agency networks
global distribution systems
local, state or national tourism organisations
own website managers
third party website managers
internal colleagues:
accounting
front line service
management
sales and marketing.
Special conditions may include:
block out dates
inclusions
payment requirements
stay controls.
Internal and external partners may include:
external organisations:
agency networks
global distribution systems
local, state or national tourism organisations
own website managers
third party website managers
internal colleagues:
accounting
front line service
management
sales and marketing.
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 ability to:
develop, implement and monitor pricing initiatives for multiple products, trading periods and market segments
integrate knowledge of:
revenue management principles
financial factors affecting revenue management
industry distribution and marketing considerations.
Context of and specific resources for assessment
Assessment must ensure use of:
a real or simulated business operation for which revenue management initiatives can be developed
current information and communications technology
current industry and business data.
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:
evaluation of completed pricing structures for specific products, trading periods and market segments
use of case studies to assess ability to analyse business data and develop effective pricing in response
written or oral questioning to assess knowledge of, industry interrelationships, distribution networks, markup and commission structures and legal requirements
review of portfolios of evidence and thirdparty workplace reports of onthejob performance by the individual.
Guidance information for assessment
The assessor should design integrated assessment activities to holistically assess this unit with other units relevant to the industry sector, workplace and job role, for example:
SITTPPD503 Research and analyse tourism data
SITTPPD601 Develop tourism products.
Overview of assessment
Critical aspects for assessment and evidence required to demonstrate competency in this unit
Evidence of the ability to:
develop, implement and monitor pricing initiatives for multiple products, trading periods and market segments
integrate knowledge of:
revenue management principles
financial factors affecting revenue management
industry distribution and marketing considerations.
Context of and specific resources for assessment
Assessment must ensure use of:
a real or simulated business operation for which revenue management initiatives can be developed
current information and communications technology
current industry and business data.
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:
evaluation of completed pricing structures for specific products, trading periods and market segments
use of case studies to assess ability to analyse business data and develop effective pricing in response
written or oral questioning to assess knowledge of, industry interrelationships, distribution networks, markup and commission structures and legal requirements
review of portfolios of evidence and thirdparty workplace reports of onthejob performance by the individual.
Guidance information for assessment
The assessor should design integrated assessment activities to holistically assess this unit with other units relevant to the industry sector, workplace and job role, for example:
SITTPPD503 Research and analyse tourism data
SITTPPD601 Develop tourism products.
Replaced By
| State Code | National Code | Title | Type |
|---|---|---|---|
| AWQ51 | SITXFIN006 | Manage revenue | Unit of competency |
| State Code | National Code | Title | Type |
|---|---|---|---|
| J455 | SIT60212 | Advanced Diploma of Events | Qualification |
| J628 | SIT60313 | Advanced Diploma of Hospitality | Qualification |
| J452 | SIT60112 | Advanced Diploma of Travel and Tourism | Qualification |