List the assessment methods to be used and the context and resources required for assessment. Copy and paste the relevant sections from the evidence guide below and then re-write these in plain English.
Elements | Performance Criteria |
Elements describe the essential outcomes. | Performance criteria describe the performance needed to demonstrate achievement of the element. |
1. Undertake preliminary research | 1.1 Identify the agriculture or horticulture activity and cyclical and/or seasonal water requirements 1.2 Identify rules, risks and limitations that have potential to affect water market 1.3 Determine volume of water, including transmission losses and timing of watering to successfully undertake the agriculture or horticulture activity 1.4 Identify existing water reserves, water allocations and determine additional water to be purchased 1.5 Identify water product required 1.6 Identify eligibility and conditions to purchase water according to regulatory requirements 1.7 Monitor water market allocation announcements, product releases, pricing and other announcements that may affect water purchase. |
2. Prepare for water purchase | 2.1 Research water market and identify water products that are suitable and available in trading areas 2.2 Undertake risk and cost benefit analyses to determine return on investment associated with proposed water purchase 2.3 Develop strategy for purchasing water, and sequencing water acquisition if required 2.4 Determine quantity, type and price range of water product required 2.5 Identify platforms, water brokers and other trading options to purchase water 2.6 Identify and calculate fees, commissions and other costs related to water purchase 2.7 Seek legal, financial, agronomical and other specific advice related to proposed water purchase as required 2.8 Monitor water market for product releases, pricing and other variables that affect water purchase |
3. Purchase water | 3.1 Select and confirm water product chosen is available, within budgeted price range, and meets specific regulatory requirements for buyer's proposed use 3.2 Select water trading platform and/or broker or method to purchase water, and apply to purchase and use water if required 3.3 Check and confirm terms and conditions for sale 3.4 Complete water transaction, payment and other regulatory reporting requirements, including options for financing 3.5 Confirm water transaction has been lodged with regulatory authority 3.6 Undertake ongoing requirements that apply to the water trade, if required |
4. Determine water available for sale | 4.1 Check balance available for sale 4.2 Research current season water outlook and identify possible allocation for new season 4.3 Identify water pricing and availability trends 4.4 Undertake cost benefit analysis to determine whether to carryover or sell water 4.5 Decide water product and quantity proposed for sale and/or retention |
5. Prepare to sell water | 5.1 Identify conditions to sell water according to regulatory requirements and confirm water quantity eligible for sale 5.2 Developstrategy for selling water, and sequencing water sales if required 5.3 Undertake risk analysis associated with proposed water sale 5.4 Determine quantity, class and type and price range of water product to be sold 5.5 Identify platforms, water brokers and other trading options to sell water 5.6 Identify and calculate fees, commissions and other costs related to water sale 5.7 Seek legal, financial and other relevant advice related to proposed sale water if required 5.8 Monitor water market for product releases, pricing and other variables that affect water purchase |
6. Sell water | 6.1 Confirm water product offered for sale meets regulatory requirements and is priced competitively 6.2 Check and confirm terms and conditions for contract of sale 6.3 Commit to sell water, select water trading platform and/or broker or othermethod to sell water, and list water for sale 6.4 Accept suitable purchase offer, complete water transaction, confirm payment and other regulatory reporting requirements 6.5 Confirm water transaction has been lodged with regulatory authority 6.6 Undertake ongoing requirements that apply to the water trade, if required |
An individual demonstrating competency must satisfy all of the elements and performance criteria in this unit.
There must be evidence that the individual has undertaken the processes required topurchase at least two different temporary water products. For each purchase, the individual must have:
calculated water requirements for the plant or livestock production period
identified at least two different water trading areas or zones that can supply the required water, where possible
identified regulatory requirements and trading rules related to the purchase of water products
completed a cost benefit analysis, including return on investment for the water purchase
developed a strategy to purchase the water, including options for financing
determined criteria for selection of water trading platform and water broker
determined risks and benefits of trading without using a water trading platform or broker
used digital technologies to research water products
produced a report for each water purchase that includes:
purpose for the water purchase
summary of applicable regulations
risk analysis
financial planning
purchasing strategy, including a rationale for timing of the purchase
water product mix
key sources of information for water products.
There must also be evidence that the individual has undertaken the processes required to sell at least two different temporary water products. For each sale, the individual must have:
determined the volume of water for sale
identified water for retention and water proposed for sale
identified regulatory requirements and trading rules related to the sale of water
completed a cost benefit analysis for the water sale
developed a strategy to sell the water
determined criteria for selection of water trading platform and water broker
used digital technologies to research water products
produced a report for each water sale that includes:
determination of water quantity and type proposed for sale
risk analysis
financial planning
selling strategy, including a rationale for timing of the purchase
water product mix
key sources of information for water products.
An individual must be able to demonstrate the knowledge required to perform the tasks outlined in the elements and performance criteria of this unit. This includes knowledge of:
key features of regulations that apply to the transactions being undertaken
functions and compliance powers of federal, state and regional water authorities that apply to water transactions being undertaken
functions and operations of state water registers
water use licences and water trade restrictions that apply to local area
key features of water entitlements and water allocations, including seasonal variations
key principles of carryover water
water products, including types and classes, available in local water market and other markets
features and benefits of temporary water trading
risk analysis and risk management strategies related to trading water, including soil carbon, long range weather forecast and long-term water allocation
when and how to seek legal and financial advice related to water trades
water broker and water trading platforms functions, benefits and costs
water trading rules and guidelines provided by local water authorities
information on allocation, allocation announcements and market opportunities
historical data and analysis on long-term reliability of different entitlement types or water products
considerations for developing a strategy for trading water, including:
total volume
water losses during transmission
timing and sequencing water sale
legal advice
financing
production requirements
weather forecasts
water allocation seasonal forecasts.
Assessment of the skills in this unit of competency must take place under the following conditions:
physical conditions:
a workplace or an environment that accurately represents workplace conditions
resources, equipment and materials:
digital technologies required to complete the tasks specified in the performance evidence
historical data related to irrigated agriculture and/or horticulture specified in the performance evidence
access to water trading platform and/or documentation required to trade water without use of a water trading platform or broker
specifications:
access to regulations and trading rules that apply to the water purchases and sales specified in the performance evidence
Assessors of this unit must satisfy the requirements for assessors in applicable vocational education and training legislation, frameworks and/or standards.