Feasibility Studies and Business Planning

Introduction

This course “Feasibility Studies and Business Planning” has been specially designed to enable delegates to get involved in effectively developing new ideas into commercial realities. Feasibility studies address issues that influence the success of new projects and assess the advantages and disadvantages of multiple options so they can be ranked and prioritised. The end product of a feasibility study is a clear, concise report which presents the proposed project’s objectives, with conclusions and recommendations for the next phase. In this course, we give participants clear guidelines on what a feasibility study should include and how to conduct one. Whether you plan to appoint a specialist team to undertake a feasibility study or intend to do one yourself, this course will guide you through every step and give you the confidence to manage or execute the process effectively.

Course Objectives of Feasibility Studies and Business Planning

• Establish the linkage between feasibility studies, business plan, and company strategy
• Understand the process of conducting a robust and dynamic feasibility study
• Develop, execute and evaluate a feasibility study
• Identify problems and opportunities within a business and define successful outcomes
• Set business planning objectives
• Integrating feasibility studies within a robust business plan

Feasibility Studies and Business Planning Course Outlines

Day 1

Business Planning

• Understanding the Difference between a Strategic Plan and a Business Plan
• Business Analysis and Strategic Planning
• Integrated Strategic and Business Planning
• Business Planning Objectives
• Framing the Business Value Proposition
• Framing Your Vision, Mission, and Strategy
• The Business Planning Process and the Important Stages
• Business Planning Process Map

Day 2

Planning a Feasibility Study

• Difference between a Feasibility Study and a Business Plan
• Differences between Conducting a Feasibility Study and Writing a Business Plan
• What are feasibility studies and why are they important?
• Feasibility Studies: Definitions, Principles, and Concepts
• Identifying Where a Feasibility Study Occurs in a Business Plan
• Creating and Protecting 'Value'
• Understanding the Business Need

Day 3

Considering the Options and the Risks Involved

• Distinguishing between Needs and Wants
• Performing an Options Analysis
• Creative Thinking and Problem Solving
• Consideration of the Risks and Opportunities
• The Risk Management Process and Application
• Identifying and Assessing the Risks of the Preferred Option
• Identifying and Managing Key Stakeholders
• Establishing the Cost Estimate

Day 4

Preparing the Report and Engaging the Various Stakeholders

• Determining the Most Feasible Option
• Financial Analysis Techniques
• Developing the Feasibility Report
• Understand the Characteristics of Proper Communication
• Identifying How Interpersonal Relationships Ensure Successful Feasibility Studies
• Developing Robust Strategic Thinking Skills
• Relating the Study to Corporate Objectives and Strategy
• Developing the Right Structure to Take the Feasibility Study to the Business Planning Stage

Day 5

Creating a Robust Business Plan and Business Planning Tools

• Why you should develop a business plan?
• The Business Plan Process and the Key Elements of a Business Plan
• Using Traditional and Non-traditional Metrics to Measure Business Performance
• How to Challenge Current Processes and Look for a Culture of Continuous Improvement
• Translating an Inspired Idea into a Robust Business Plan
• Implementing the Plan and Measuring Success
• Evaluating and Evolving the Business Plan against the Feasibility Study
• Reviewing and Evaluating Progress vs. Plan