Feasibility Studies and Business Planning

Created by LEC Team
Last updated Mon, 27-Mar-2023
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Feasibility studies address concerns that affect the success of brand-new jobs and analyze the benefits and disadvantages of several options so they can be placed as well as prioritised. The end product of a feasibility study is a clear, succinct report which provides the suggested job's purposes, with conclusions and suggestions for the following phase. In this training course, we provide participants with clear standards on what a useful research study should consist of and exactly how to perform one. Whether you intend to select a specialist team to embark on an expediency study or do one yourself, this course will certainly guide you through every action and provide you with the self-confidence to handle or execute the process effectively.

Course Goals of Usefulness Research Studies and Business Planning

  • Establish the affiliation between feasibility studies, service plans, as well as firm strategy
  • Understand the procedure of conducting a robust and vibrant feasibility research
  • Create, implement as well as assess a feasibility research
  • Determine troubles and also possibilities within a service as well as specify successful results
  • Set organization planning goals
  • Integrating expediency studies within a robust service strategy

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

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