Assignment Task:
Assessment
This unit is assessed through a portfolio of evidence. The evidence that you present for assessment must demonstrate that you have met the required standard specified in the learning outcomes and assessment criteria above.
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Get Help Now!Before you start to collate your evidence, you will agree with your Assessor appropriate evidence which reflects your role and responsibility. You can use one piece of evidence to prove your skills across different assessment criteria and/or across different units. It is not necessary for you to have each assessment criterion assessed with a separate piece of evidence.
Evidence for this unit is likely to come from naturally occurring activities from the workplace and may include (but is not restricted to):
• Budgetary documents and products of the learner’s work
• Referenced sources of information
• Personal statements and/or reflective accounts
• Authentic statements/witness testimony
• Written narrative to develop or explain the evidence
• Meeting minutes
• Professional discussion
• Reports
You must carry the tasks out individually. You may carry out research and collect the information you want to use under unsupervised conditions.
• Assessment plan
With your Assessor, you should now plan what evidence you will provide for the assessment of this unit. Your centre may choose to use this assessment plan template, or they may use a centre devised template. Please upload your completed plan below so that you have a record of the evidence to be provided, and the deadlines you have agreed to meet.
• Learning outcomes:
1. Be able to set a budget
1.1 Gather the relevant information needed to set a budget
1.2 Identify potential variances and suggest contingencies
1.3 Set a realistic budget in line with organisational requirements
1.4 Secure the support of stakeholders to agree with a budget
2. Be able to manage a budget
2.1 Use the budget to monitor costs and expenditure
2.2 Identify the cause of variations from budget
2.3 Take action to address variations from budget
2.4 Propose realistic revisions to budget, supporting recommendations with evidence
2.5 Provide budget-related reports and information within agreed timescales
3. Be able to evaluate budget management
3.1 Identify successes and areas for improvement in budget management
3.2 Make recommendations to improve the future budget setting and management
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