Chapter Name: Apply resource management within a new venture
Description:Focuses on managing materials, manpower, and machines.
Purpuse:To use resources effectively and reduce operational costs.
Rational:Efficient resource use increases profitability.
Chapter Assessment
Scope of Practical Skill
Key Requirement 1: Apply resource management within a new venture
Learners are expected to manage and allocate resources (e.g., human, financial, material) effectively to meet production goals.
Assessment Questions
Assessment 1 : The concept of resource management is explained within the context of new venture creation.
Learners must describe resource management in a new venture, emphasizing the importance of effectively managing financial, human, and physical resources.
Assessment 2 : A system to effectively manage and control business resources is developed using a record-keeping system.
Learners must create a system for tracking and managing resources in a new venture, ensuring efficient operations.
Assessment 3 : A maintenance system is designed to ensure business sustainability and competitiveness.
Learners must design a maintenance system that ensures equipment and processes are regularly checked and maintained to prevent downtime and ensure long-term success.