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BSBOPS501 Manage Business Resources - Assignment Task 1

Task 1 – Knowledge Questions

Task summary

· This is an open book knowledge test, to be completed in your own time.

· You need to answer all the written questions correctly.

Required

· Access to textbooks/other learning materials.

· Access to a computer and Microsoft Office.

· Access to the internet.

Timing

· Your assessor will advise you of the due date of this assessment via Canvas.

Submit onto Canvas

· This completed workbook

Assessment criteria

· All questions must be answered correctly for you to be assessed as having completed the task satisfactorily.

Re-submission opportunities

· You will be provided feedback on your performance by the Assessor via Canvas. The feedback will indicate if you have satisfactorily addressed the requirements of each part of this task.

· If any parts of the task are not satisfactorily completed, the assessor will provide you written feedback along with guidance on what you must undertake to demonstrate satisfactory performance. Re-assessment attempt(s) will be arranged at a later time and date.

· You have the right to appeal the outcome of assessment decisions if you feel that you have been dealt with unfairly or have other appropriate grounds for an appeal.

· You are encouraged to consult with the assessor prior to attempting this task if you do not understand any part of this task or if you have any learning issues or needs that may hinder you when attempting any part of the assessment.

Task 1: Knowledge Questions

Question 1	Outline two (2) ways the legislative and regulatory context affect an organisation’s resource management.

Question 2	List the main items that must be included in a resource plan and outline the purpose of each. (Minimum 80 words)

Question 3	Outline a typical process for the acquisition of resources. (Minimum 80 words)

Question 4	Outline the process that may be followed to measure the effectiveness of resource planning and assess against actual costs, identified shortfalls, and surpluses. (Minimum 150 words)

Question 5	Identify and briefly summarise the two (2) types of capital that should be considered in relation to resource expenditure. (Minimum 40 words)

Question 6	Identify four (4) expenses that may be considered within project budgets.

Question 7	Outline the typical risks associated with managing business resources and the risk management strategies that can be used. (Minimum 80 words)

Question 8	Outline procedures for risk management. Ensure you include provisions for changes in government policies. (Minimum 80 words)

Question 9	What are key elements and sources of information required to monitor the usage of: 1. physical resources 2. human resources. (Minimum 50 words)

Question 10	What is a business unit and why is it important to understand its objectives when managing business resources? (Minimum 50 words)