Task Part A In this task, it is required to monitor the condition and performance of the physical assets. To monitor the physical assets, you should establish and implement the regular reporting practices to ensure the effective performance of physical assets. To maintain the physical assets appropriately, it is essential to monitor the condition and performance of the physical assets. A senior manager of Marriot International has decided to monitor the current physical asset to improve the efficiency and productivity of the business. You will be playing the role of a senior manager in this task for monitoring the condition and performance of physical assets. To monitor the condition and performance of physical assets, you are required to assess the following- . Establish and implement regular reporting practices to ensure effective performance of physical assets. Identify problems in physical assets and take action to resolve the problem . Assess the physical asset performance Evaluate need for, and access, specialist assistance Template 1- Establish and implement regular reporting practices Aceat Name Current State Ranorting date Practices nutramaTemplate 1- Establish and implement regular reporting practices Asset Name Current Status Reporting date Practices Outcome Description 1. 2. 3. 4. 5 . Page | 49Template 2- Identify problems and take appropriate action Asset Issues Action need to be Due date taken 1. 2. 3. 4. 5.Template 3- Assess long term physical asset performance Asset Name Current Status Predicted date of Description assessment 1. 2. 3. Page | 50 Document Type: Trainer Assessment Pack (TAP) Version 8 - Compliance and Quality Assurance Department Release Date: Feb 2019 Review Date: Dec 2020 Unit Name: SITXFINO05 - Manage physical assets\fTalk PART A The management of Marriot International focuses on the growth to achieve a competitive advantage in the market. The main goal of the company is to enhance the productivity of the business by prov" ing qualityservices to its customers. The hotel has a restaurant, and the company orders food from Bid food Pvt Ltd. Currently, the restaurant of the company is having depreciation in the profit clue to the excessive amount charged on the frozen food by food provider. Ijkewise, Marriot International has decided to acquire the food supplier business to increase the growth of the company. Initially, the company decided to nance the few assets such as building and vehicles, and later the oompany will purchase the inventory from the food company. The Marriot also require replacing some assets to the old food provider such as inventory and outstanding payment. To coordinate the financing and purchasing of physical assets of the food company, the management has required to prepare spec' tion, estimate cost and make a decision on financing asset. Part A You will be playing the role of Senior Manager at Marriot International. you are required to perform the following to acquire physical assets of the food company? 0 Prepare accurate equipment specifications to guide acquisition process. 0 Estimate acquisition costs based on evaluation of current, accurate and relevant data. Template 1- Asset specification Equipment/Asset Specification Final Decision 1. 2. 3. 4. Page | 61 Document Type: Unit Assessment Pack (UAP) Version 8 - Compliance and Quality Assurance DepartmentPart B: In this task, you will be playing a role of Senior Manager to coordinate financing and purchase of physical assets. You are required to meet the management team and Financial Specialist of Marriot International and discuss the various objectives on financing the physical asset. The participant of the meeting will be- . Senior Manager (You) The management team (2 team members) You are required to perform the following in the meeting- Make decisions on replacing and acquiring physical assets . Select methods of financing to meet current financial objectives. . Finance acquisitions in consultation with financial specialists. . Keep accurate records of all financial agreements. Asset Replacement Asset Acquisition Decision 1. 2.\f1. Page | 63 Document Type: Unit Assessment Pack (UAP) Version 8 - Compliance and Quality Assurance Department Release Date: Feb 2019 Review Date: Dec 2020 Unit Name: SITXFINO05 - Manage physical assets 2. 3. 4.