This unit is about collecting, analysing and interpreting information to help
control costs and improve performance.
You are required to obtain 1 of the 2 elements
| Element objective |
Example activities to demonstrate competence |
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8.1 Collect, analyse and disseminate information about costs
This is about identifying and analysing costs.
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- Identifying information on costs
- Monitoring and analysing costs
- Identifying trends (also applicable to those in audit)
- Comparing costs against actual figures and analysing variances (also
applicable to those in audit)
- Preparing an analytical review of costs and investigate unusual or
unexpected variances (audit).
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8.2 Monitor performance and make recommendations to enhance value
This is about monitoring performance and recommending how efficiencies
could be gained to improve performance.
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- Analysing cost information and comparing them with actual figures,
or other information, to monitor performance
- Preparing and monitoring relevant performance indicators
- Identifying/suggesting possible ways to reduce costs and achieve
performance improvements
- Consulting others about ways costs may be reduced
- Identifying how work processes could be made more effective, efficient
or the quality of work improved
- Making suggestions to improve efficiency that may be included in
a report to management/management letter (audit).
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