Analyze information and knowledge
Submission details
The assessment task is due on the date specified in your timetable. Any variations to this arrangement must be approved in writing by your assessor.
Performance objective
You will demonstrate the skills and knowledge required to analyze information and knowledge on business issues or problems to aid decision-making.
Assessment description
Using the simulated business information provided in this task, and in response to a scenario, you will identify patterns or emerging trends, determine the causes and determine their potential effect on the business by using statistical analysis techniques. You will document evaluation processes and adjust management information or decision support systems if necessary to meet information processing objectives.
Procedure
- Read the scenario information provided under CoffeeVille – your brief in Appendix 1.
- If necessary, review CoffeeVille’s general business information provided in Appendix 1 of Assessment Task 2 to maintain your understanding of the business and its environment.
- Review and evaluate business performance data and information in Appendix 2.
- Review and analyse research data and information in Appendix 3.
- Respond to Question 1 in Appendix 5 by developing SMART objectives for the analysis processes you plan to undertake to identify causes for the business’s declining sales. Make sure they are consistent with the decision required.
- Based on the information provided in this assessment and Assessment Task 2 as management information and decision support, identify and interpret trends and patterns and their causes and effects relevant to the identified business problem. You can use computer software or manual techniques to complete trend and correlation statistical analysis calculations. You can use Cause and Effect diagram for this purpose as well.
○ You can complete as many trend and correlation calculations as desired to assist in the identification of trends and patterns and their causes or effects.
○ You must complete a minimum of two trend and two correlation calculations for this assessment.
○ The results of at least two trend and two correlation calculations must be converted to graphs for visual identification and evaluation of trends or patterns and their causes or effects. This results in your sensitivity analysis.
Assessment Task 3
BSBINM601 - Manage information and knowledge
RTO: 22332 Version: 3.0
CRICOS: 03234B Page 2 of 22 - Document analysis processes undertaken so far by completing Parts 1 and 2 of the Decision Analysis Report in Appendix 4. Note that additional information will be added to this report in Assessment Task 4. Make sure you use writing styles and conventions appropriate for a management report, including level of formality selected, terminology used and depth of complexity in information provided.
- Answer the remaining assessment questions in Appendix 5.
Specifications
Specifications
You must submit:
● completed Parts 1 and 2 of the Decision Analysis Report
● copies of the results gained from at least two trend and two correlation statistical analysis techniques used to assist trend and pattern identification – please attach to the Decision Analysis Report
● copies of line or scatter graphs developed from the results of at least two trend and two correlation statistical analysis techniques – please attach to the Decision Analysis Report
● your responses to the questions in Appendix 5.
Your assessor will be looking for your ability to:
● organise, evaluate and critique ideas and information
● build and maintain understanding of a problem of issue
● develop and write complex texts using appropriate conventions and writing styles
● use numeracy skills to interpret complex statistical and researched information
● gather and analyse data and seek feedback to improve organisational plans and processes
● use digital technologies effectively to manage business operations for strategic and operational purposes
● plan and manage activities that have implications for the whole organisation
● make high impact decisions – analyse input from a range of sources and, where appropriate, drawing on experience.
Assessment Task 3
BSBINM601 - Manage information and knowledge
RTO: 22332 Version: 3.0
CRICOS: 03234B Page 3 of 22
Appendix 1
Appendix 1
CoffeeVille
CoffeeVille –– your briefyour brief
Rufus and Emma Belcastran, CoffeeVille’s owners, have approached you for assistance. The business has been profitable and steadily expanding for the last 4 years but recently, expenses have started to climb and sales drop. In the last 3 months they have started to address the issue of rising expenses.
In the last 3 months they have started to address the issue of rising expenses by evaluating and updating procedures and work practices in an effort to reduce costs. So far, their efforts have not had a significant impact on expenditure and their sales revenue continues to be below budget forecasts.
It’s January 2016 and all four stores are closed for a summer break. Emma and Rufus are using the down time to assess their business’s operational and financial status in preparation for the year ahead.
They have asked you to help them analyse their business and the external environment to identify potential reasons for their declining sales. Now that the business issue or problem has been identified, they want you to analyse data and information to determine the potential causes of the issue.
You plan to use data and information identified in Assessment Task 2 and in the Appendices of Assessments Task 2 and 2, as well as conduct research into potential external environmental factors. You believe using statistical and sensitivity analysis techniques will enable you to identify relationships between data, clarifying potential causes of the business issue.
Assessment Task 3
BSBINM601 - Manage information and knowledge
RTO: 22332 Version: 3.0
CRICOS: 03234B Page 4 of 22
Appendix 2
Appendix 2
Coffeeville business data and information
Coffeeville business data and information
Business performance
General trends
● Sales for first 6 months of 2015 are down across all categories and stores. Overall, food sales are down 10%, beverages 12% and catering 17%. When combined with rising expenses, profits are down for the first half of the financial year by 19%
● After opening a year ago, the 4th store is slowly building customers but is still not performing to forecasted levels. Most of the marketing budget and Emma’s efforts have been focussed there.
● Productivity has increased with staff able to serve more customers per hour per person. Barista coffee preparation speeds have increased after all barista staff completed an advanced barista course in Jan 2015.
● Savings made in payroll and cost of goods due to productivity gains has been offset by rising wages and food prices.
Payroll expenses
Year
Payroll expenses as % of total expenses
2009
34.9%
2010
35.3%
2011
34.2%
2013
39.8%
2014
42.1%
2015
45.3%
Assessment Task 3
BSBINM601 - Manage information and knowledge
RTO: 22332 Version: 3.0
CRICOS: 03234B Page 5 of 22
Financial information – Organisation
Financial year July 2014–June 2015
July–December 2014 Sales $ July Aug Sept Oct Nov Dec
Food sales
285,668
279,805
273,942
262,580
250,078
199,251
Beverage sales
191,199
190,163
189,126
187,054
182,650
179,523
External catering
82,360
83,540
81,980
81,480
77,500
74,370
Total income
559,227
553,508
545,048
531,114
510,228
453,144
Total expenses
482,190
470,934
483,431
451,683
461,746
404,986
Net profit/loss
77,037
82,574
61,617
79,431
48,482
48,158
Jan–July 2015 Sales $ Jan Feb Mar April May June Year Total
Food sales
203,894
221,209
238,525
245,476
259,742
262,803
2,982,972
Beverage sales
181,220
185,263
187,263
188,263
189,560
191,208
2,242,492
External catering
57,284
60,926
67,853
68,853
51,853
49,137
837,136
Total income
442,398
467,398
493,641
502,592
501,155
503,148
6,062,600
Total expenses
413,064
421,865
442,733
447,512
464,198
478,630
5,422,972
Net profit/loss
29,334
45,533
50,908
55,080
36,957
24,518
639,628
Assessment Task 3
BSBINM601 - Manage information and knowledge
RTO: 22332 Version: 3.0
CRICOS: 03234B Page 6 of 22
Financial year July 2015–June 2016
July–December 2015 (actual results) Sales $ July Aug Sept Oct Nov Dec
Food sales
231,391
226,642
231,865
227,105
202,563
154,300
Beverage sales
148,065
147,262
153,192
158,323
135,088
129,705
External catering
60,207
60,358
56,476
55,457
52,111
47,597
Total income
439,663
434,262
441,533
440,885
389,762
331,602
Total expenses
373,713
364,780
366,472
374,752
339,093
288,494
Net profit/loss
65,950
69,482
75,061
66,133
50,669
43,108
Jan–July 2016 (adjusted forecast) Sales $ Jan Feb Mar April May June Year Total
Food sales
177,388
201,300
224,214
208,655
233,768
233,632
2,552,823
Beverage sales
152,225
163,031
161,046
167,554
170,604
170,175
1,856,270
External catering
46,973
51,178
56,318
57,148
42,779
40,292
626,894
Total income
376,586
415,509
441,578
433,357
447,151
444,099
5,035,987
Total expenses
351,615
375,031
396,039
385,864
414,176
422,459
4,452,488
Net profit/loss
24,971
40,478
45,539
47,493
32,975
21,640
583,499
Assessment Task 3
BSBINM601 - Manage information and knowledge
RTO: 22332 Version: 3.0
CRICOS: 03234B Page 7 of 22
Budget variance report – All stores
Summary of variance results for comparisons of budget to actual income for the period 2011 - 2015
A positive variance indicates the percentage above budget, a negative figures indicates the percentage below budget.
Financial year
2011-12
2012-13
2013-14
2014-15
2015-16 Jul-Dec 2011 Jan-Jun 2012 Jul-Dec 2012 Jan-Jun 2013 Jul-Dec 2013 Jan-Jun 2014 Jul-Dec 2014 Jan-Jun 2015 Jul-Dec 2015
Food sales
5%
8%
7%
12%
8%
1%
-3%
-8%
-10%
Beverage sales
8%
2%
4%
5%
5%
-2%
-4%
-5%
-12%
External catering
12%
4%
7%
2%
5%
2%
-8%
-11%
-17%
Total income
8%
5%
6%
6%
6%
1%
-5%
-9%
-12%
Net profit/loss
7%
4%
-1%
6%
6%
-4%
-5%
-11%
-13%
Financial history by income source
*Note: Store 3 opened July 2014, Store 4 July 2026 Food Sales July Aug Sept Oct Nov Dec Jan Feb Mar April May June Total
2013-14
224,580
212,965
208,695
210,589
209,568
189,655
175,250
186,752
198,765
209,632
218,655
225,892
2,470,998
2014-15
357,580
362,937
365,600
355,290
347,868
337,438
301,056
301,475
323,324
307,358
282,052
289,080
3,931,058
2015-16
257,101
251,825
252,027
244,199
225,070
175,341
177,388
201,300
224,214
208,655
233,768
233,632
2,684,519
Beverage Sales July Aug Sept Oct Nov Dec Jan Feb Mar April May June Total
2013-14
150,469
140,557
137,739
138,989
138,315
125,172
115,665
123,256
131,185
138,357
148,385
151,348
1,639,437
2014-15
210,306
214,056
215,920
203,934
189,078
182,794
160,878
161,130
182,540
185,239
185,074
189,085
2,280,034
2015-16
168,255
167,343
170,213
172,090
157,079
152,595
152,225
163,031
161,046
167,554
170,604
170,175
1,972,210
Assessment Task 3
BSBINM601 - Manage information and knowledge
RTO: 22332 Version: 3.0
CRICOS: 03234B Page 8 of 22
External catering July Aug Sept Oct Nov Dec Jan Feb Mar April May June Total
2013-14
51,650
52,890
54,820
59,850
65,890
60,150
39,550
41,330
42,580
46,450
49,620
51,230
616,010
2014-15
97,274
98,881
99,680
95,853
89,385
85,196
60,585
60,753
66,414
77,605
81,944
80,067
993,637
2015-16
70,418
71,009
68,043
67,221
63,550
59,496
46,973
51,178
56,318
57,148
42,779
40,292
694,425
Total income July Aug Sept Oct Nov Dec Jan Feb Mar April May June Total
2013-14
426,699
406,412
401,254
409,428
413,773
374,977
330,465
351,338
372,530
394,439
416,660
428,470
4,726,445
2014-15
665,160
675,874
681,200
655,077
626,331
605,428
522,519
523,358
572,278
570,202
549,070
558,232
7,204,729
2015-16
495,774
490,177
490,283
483,510
445,699
387,431
376,585
415,509
441,578
433,357
447,151
444,099
5,351,154
Net profit July Aug Sept Oct Nov Dec Jan Feb Mar April May June Total
2013-14
93,874
85,347
92,288
98,263
99,306
78,745
62,788
77,294
85,682
94,665
91,665
89,979
1,049,896
2014-15
83,501
108,019
121,333
100,609
77,095
70,695
83,373
61,305
76,724
73,854
72,457
66,266
995,231
2015-16
68,296
73,126
55,426
72,312
42,350
41,174
24,970
40,478
45,539
47,492
32,975
21,641
565,779
Assessment Task 3
BSBINM601 - Manage information and knowledge
RTO: 22332 Version: 3.0
CRICOS: 03234B Page 9 of 22
Financial information - Store 2
Store 2 Financial results July – December 2014 Sales $ July Aug Sept Oct Nov Dec
Food sales
64,364
65,329
65,808
63,952
62,616
60,739
Beverage sales
37,855
38,530
38,866
36,708
34,034
32,903
External catering
17,509
17,799
17,942
17,254
16,089
15,335
Total income
119,728
121,658
122,616
117,914
112,739
108,977
Total expenses
104,164
102,192
106,676
100,227
98,083
95,900
Net profit / loss
15,564
19,466
15,940
17,687
14,656
13,077
Store 2 Financial results Jan – July 2015 Sales $ Jan Feb Mar April May June Year Total
Food sales
54,190
54,266
58,198
55,324
50,769
52,034
707,590
Beverage sales
28,958
29,003
32,857
33,343
33,313
34,035
410,406
External catering
10,905
10,936
11,955
13,969
14,750
14,412
178,855
Total income
94,053
94,204
103,010
102,636
98,833
100,481
1,296,851
Total expenses
79,005
82,900
89,619
89,294
85,984
88,424
1,122,467
Net profit/loss
15,048
11,305
13,391
13,342
12,848
12,057
174,384
Assessment Task 3
BSBINM601 - Manage information and knowledge
RTO: 22332 Version: 3.0
CRICOS: 03234B Page 10 of 22
Store 2 Financial results July – December 2015 Sales $ July Aug Sept Oct Nov Dec
Food sales
$51,289
$50,664
$49,413
$46,912
$46,286
$42,908
Beverage sales
$34,158
$33,827
$29,836
$28,515
$28,183
$26,178
External catering
$10,448
$8,064
$7,872
$7,776
$10,112
$9,363
Total income
$95,895
$92,555
$87,121
$83,203
$84,581
$78,449
Total expenses
$86,655
$82,660
$82,920
$80,392
$82,176
$72,560
Net profit/loss
$9,240
$9,895
$4,201
$2,811
$2,405
$5,889
Store 2 Budget variance report July – December 2015
A positive variance indicates percentage above budget, a negative figures indicates percentage below budget. Sales $ July Aug Sept Oct Nov Dec
Food sales
-2%
-3%
-5%
-9%
-10%
-14%
Beverage sales
3%
2%
-4%
-11%
-12%
-9%
External catering
-12%
-16%
-18%
-19%
-21%
-23%
Total income
-11%
-12%
-8%
-19%
-20%
-17%
Total expenses
1.50%
1.78%
2.10%
1.45%
1.32%
1.70%
Assessment Task 3
BSBINM601 - Manage information and knowledge
RTO: 22332 Version: 3.0
CRICOS: 03234B Page 11 of 22
Net profit/loss
-31%
-36%
-41%
-86%
-59%
-69%
$-
$-
$10,000
$10,000
$20,000
$20,000
$30,000
$30,000
$40,000
$40,000
$50,000
$50,000
$60,000
$60,000
$70,000
$70,000
Aug
Aug
Sept
Sept
Oct
Oct
Nov
Nov
Dec-14
Dec-14
Jan-15
Jan-15
Feb
Feb
Mar
Mar
April
April
May
May
June
June
Store 2 Forecasted sales 2015
Store 2 Forecasted sales 2015-1616
Food sales
Food sales
Beverage sales
Beverage sales
External catering
External catering
$-
$-
$5,000
$5,000
$10,000
$10,000
$15,000
$15,000
$20,000
$20,000
$25,000
$25,000
Store 2
Store 2 -Forecasted net profit 2015Forecasted net profit 2015-1616
Net profit
Net profit
Assessment Task 3
BSBINM601 - Manage information and knowledge
RTO: 22332 Version: 3.0
CRICOS: 03234B Page 12 of 22
Financial information - Store 3
Store 3 Financial results July – December 2014 Sales $ July Aug Sept Oct Nov Dec
Food sales
71,516
76,217
76,776
78,164
76,531
77,611
Beverage sales
42,061
44,952
45,343
44,865
41,597
42,043
External catering
19,455
20,765
20,933
21,088
19,665
19,595
Total income
133,032
141,934
143,052
144,117
137,793
139,249
Total expenses
115,738
119,224
117,303
122,499
121,258
122,539
Net profit/loss
17,294
22,710
25,749
21,618
16,535
16,710
Store 3 Financial results Jan – July 2015 Sales $ Jan Feb Mar April May June Year Total
Food sales
69,243
72,354
77,598
70,692
64,872
63,598
901,685
Beverage sales
37,002
38,671
43,810
42,605
42,567
39,708
523,870
External catering
13,935
14,581
15,939
17,849
18,847
16,814
227,342
Total income
120,180
125,606
137,347
131,146
126,286
120,120
1,652,897
Total expenses
100,951
110,533
119,492
114,097
109,869
105,705
1,425,544
Net profit/loss
19,229
15,073
17,855
17,049
16,417
14,415
227,353
Assessment Task 3
BSBINM601 - Manage information and knowledge
RTO: 22332 Version: 3.0
CRICOS: 03234B Page 13 of 22
Store 3 Financial results July – December 2015 Sales $ July Aug Sept Oct Nov Dec
Food sales
$71,922
$71,140
$71,922
$70,358
$68,795
$40,657
Beverage sales
$37,309
$36,894
$37,309
$36,065
$35,236
$28,407
External catering
$10,560
$9,440
$9,080
$10,320
$11,920
$12,768
Total income
$119,791
$117,474
$118,311
$116,743
$115,951
$81,832
Total expenses
$108,959
$103,853
$103,752
$103,752
$105,927
$87,464
Net profit/loss
$10,832
$13,621
$14,559
$12,991
$10,024
-$5,632
Store 3 Budget variance report July – December 2015
A positive variance indicates percentage above budget, a negative figures indicates percentage below budget. Sales $ July Aug Sept Oct Nov Dec
Food sales
-8%
-9%
-8%
-10%
-12%
-15%
Beverage sales
-10%
-11%
-10%
-13%
-15%
-17%
External catering
-12%
-13%
-16%
-14%
-13%
-16%
Total income
-16%
-18%
-18%
-19%
-21%
-23%
Total expenses
2.10%
2.30%
2.20%
2.20%
2%
2.30%
Net profit/loss
-43%
-45%
-46%
-51%
-56%
-59%
Assessment Task 3
BSBINM601 - Manage information and knowledge
RTO: 22332 Version: 3.0
CRICOS: 03234B Page 14 of 22
$-
$-
$10,000
$10,000
$20,000
$20,000
$30,000
$30,000
$40,000
$40,000
$50,000
$50,000
$60,000
$60,000
$70,000
$70,000
$80,000
$80,000
July
July
Aug
Aug
Sept
Sept
Oct
Oct
Nov
Nov
Dec-14
Dec-14
Jan-15
Jan-15
Feb
Feb
Mar
Mar
April
April
May
May
June
June
Store 3 Forecasted sales 2015
Store 3 Forecasted sales 2015-1616
Food sales
Food sales
Beverage sales
Beverage sales
External catering
External catering
$-
$-
$5,000
$5,000
$10,000
$10,000
$15,000
$15,000
$20,000
$20,000
$25,000
$25,000
Store 3 Forecasted net profit 2014
Store 3 Forecasted net profit 2014-1515
Net profit
Net profit
Assessment Task 3
BSBINM601 - Manage information and knowledge
RTO: 22332 Version: 3.0
CRICOS: 03234B Page 15 of 22
Appendix 3
Appendix 3
Research data and information
Research data and information
Melbourne demographics – City of Melbourne
General and industry specific information is available on City of Melbourne website.
Two main areas of the website to investigate are:
● City of Melbourne, ‘Doing business in Melbourne’, viewed January 2016, http://www.melbourne.vic.gov.au/business/doing-business/Pages/doing-business-in-melbourne.aspx
● City of Melbourne, ‘Research and statistics’, viewed January 2016, http://www.melbourne.vic.gov.au/about-melbourne/research-and-statistics/Pages/research-and-statistics.aspx.
City of Melbourne has been producing a report called Daily Population Estimates and Forecasts for many years. It was updated in 2015. Among other information, it includes statistics on past and future trends for City of Melbourne’s workforce and residential population.
You can find it at:
● City of Melbourne, ‘Daily population estimates and forecasts’, viewed January 2016, http://www.melbourne.vic.gov.au/about-melbourne/research-and-statistics/Pages/daily-population-estimates-and-forecasts.aspx.
Economic activity
Summary Australian interest rates – Reserve Bank of Australia
All rates expressed as percentages.
Feb
Mar
Apr
May
June
Jul
Aug
Sept
Oct
Nov
Dec
2014
2.5
2.5
2.5
2.5
2.5
2.5
2.5
2.5
2.5
2.5
2.5
2015
2.25
2.25
2.0
2.0
2.0
2.0
2.0
2.0
2.0
2.25
2.25
Melbourne CBD retail information
Commercial property rental rates per square meter Melbourne CBD
2013
2014
2015
2016 (forecast)
Gross average rent
$7,000
( 5.7%)
$7,750
( 10.1%)
$8,250
( 6.4%)
$8,800
( 6.6%)
Assessment Task 3
BSBINM601 - Manage information and knowledge
RTO: 22332 Version: 3.0
CRICOS: 03234B Page 16 of 22
Commercial property vacancy rates – Melbourne CBD
2013
2014
2015
2016 (forecast)
Vacancy rates
8.2%
8.5%
9.1%
9.5%
Cafe / restaurant / bistros in Melbourne CBD as at June 31st 2015
Note: figures based on registered businesses, closures and permit applications lodged by June1st each year.
Year
No. new cafe / restaurant / bistros opened
No. cafe / restaurant / bistros closed
No. cafe / restaurant / bistro seats
Total café / restaurant / bistros in CBD
2011
37
12
169,983
2585
2012
41
13
178,320
2613
2013
39
18
206,031
2634
2014
52
19
213,272
2670
2015
45
21
217,157
2694
Media articles
Business News Aug 2014
New era looms as CBD office boom ends
Property developers and investors are facing diminished returns and an uncertain future as the CBD commercial property market stalls.
Coinciding with a slowdown of economic activity and low business confidence, particularly in the retail and professional services sector, applications for new development projects fallen to their lowest levels in 5 years.
Mr Kenneth Staines, from Placement Properties, indicated this trend is also occurring in most other capital cities in Australia and many other Western countries. Consumer confidence is down, people are not spending and this is affecting businesses everywhere. Everyone is sitting tight on their money – consumers and investors, he stated at a business forum this week.
One of the reasons he believes applications are down is the recent rise in vacant office space within the central CBD. Rents have remained relatively high and many businesses are struggling as income has not risen in tandem, he said.
A recent survey conducted by the Property Institute shows the number of tenants in the CBD falling, particularly in small to medium business categories. New tenant enquiries has been flat with most enquiries coming from larger businesses interested in acquiring recently vacated adjoining office space.
Assessment Task 3
BSBINM601 - Manage information and knowledge
RTO: 22332 Version: 3.0
CRICOS: 03234B Page 17 of 22
Melbourne moves: businesses shift out from the city
December 2014
There’s a shift on in Melbourne, with many medium and small businesses moving out of the CBD to its fringes and suburbs.
A new report shows 16 small and 10 medium sized companies moved from the CBD to its fringe and nearby suburbs in the past 12 months, continuing a trend that started in 2013.
The annual Johnson report Melbourne Property 2014 says there are several factors behind the move, including cost savings and changes in the way people are working.
Johnson’s Research Manager Kim Rayner says their analysis shows 85% of these businesses who moved out of the CBD this year have relocated to properties in the periphery or within 5 km of the CBD, with very few locating further than 10 kms.
Johnson’s Director of Office Leasing (Victoria) Andrew Mahji says Melbourne’s CBD office vacancy rate has substantially increased this year.
“We have a vacancy rate of 10% in the Melbourne CBD,” Mahji says. “It coincides with a lot of new buildings going up in Docklands and Richmond.”
Assessment Task 3
BSBINM601 - Manage information and knowledge
RTO: 22332 Version: 3.0
CRICOS: 03234B Page 18 of 22
Softer demand drives up office vacancy rates in all CBD markets
Vacancy rates for offices is expected to peak in most Australian CBD markets in 2015–2016, with Brisbane expected to have the peak vacancy of nearly 14% according to forecasts from REAC.
REAC’s Research Director for Australia, Millie Kearney, said the latest Property Council of Australia vacancy statistics highlighted that demand had decreased across all CBD markets with negative net absorption driving up vacancy rates in every major capital city.
CBD Office Total Vacancy rate % - July 2015
Assessment Task 3
BSBINM601 - Manage information and knowledge
RTO: 22332 Version: 3.0
CRICOS: 03234B Page 19 of 22
Appendix 4
Appendix 4
Decision Analysis Report
Decision Analysis Report
Part 1 – Decision / Issue Name Name decision, issue, problem, project, plan or strategy the decision is linked to.
Decision required Describe the decision that must be made. It should outline what are the expectations or parameters of the decision to any decision-makers or recipients of the document. Include any timeframes the decision must be made in.
History A brief history of events, reasons or causes that necessitates the decision. This should be an overview only and only contain information relevant to the required decision. It should briefly describe the who, what, when and where of the situation requiring a decision.
Part 2 – Analysis Summarise the analytical processes used, the results of the analysis and their implications – do they support or disprove the issue or problem, what further questions were raised as a result of the analysis.
Analysis
Results
Implications
Part 3 – Decision options List all viable, genuine courses of action that address the issue. Briefly list actions to be taken, any costs associated with the option and potential positive and negative outcomes.
Assessment Task 3
BSBINM601 - Manage information and knowledge
RTO: 22332 Version: 3.0
CRICOS: 03234B Page 20 of 22
Option 1:
Positive outcomes / benefits
Negative outcomes / Risks
Option 2:
Positive outcomes / benefits
Negative outcomes / Risks
Option 3:
Positive outcomes / benefits
Negative outcomes / Risks
Assessment Task 3
BSBINM601 - Manage information and knowledge
RTO: 22332 Version: 3.0
CRICOS: 03234B Page 21 of 22
Part 4 – Recommendation / Action taken Indicate which course of action is recommended (if making a recommendation to a higher decision-maker) or the action to be taken. Briefly outline the reasoning for choosing this option.
Confirmation / Approval Names, titles, signatures and date of decision or granting of approval
Name Title Signature Date
Name Title Signature Date
Name Title Signature Date
Assessment Task 3
BSBINM601 - Manage information and knowledge
RTO: 22332 Version: 3.0
CRICOS: 03234B Page 22 of 22
Appendix 5
Appendix 5
Assessment
Assessment questionsquestions - What is your objective/s for the analysis processes you plan to undertake?
- Briefly describe how management information or decision support systems can support the analysis of proposed courses of action and their impact on the business.
- List two types of adjustments you might have to make management information or decision support systems to help you meet your stated objectives.