Why do we spend so much time evaluating and explaining ideas that do not lead to new business opportunities? A feasibility study is an effective way to avoid wasting property or scarce resources. By conducting a feasibility study, businesses can reduce the risk of developing unpopular and impractical projects.
Before writing a business plan, a feasibility study is usually conducted.
Only after a prospective business idea has been proven feasible can the business plan begin.
If at all possible, we can proceed with confidence that the business plan will result in a profitable opportunity. It will provide a "roadmap" that explains how to start and grow a business.
This "Feasibility Studies and Business Planning" course has been specifically designed to engage delegates in effectively developing new ideas into commercial realities. Feasibility studies address issues that affect the success of new projects and evaluate the benefits and drawbacks of various options so that they can be ranked and prioritized. A feasibility study produces a clear, concise report that presents the proposed project's objectives, as well as 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.
What is a feasibility study?
When is a feasibility study used?
How do we prepare a feasibility study?
How do we critically analyze a feasibility study?
How do we set business planning objectives?
How do we implement a feasibility study effectively?
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
This training course enhances learning with practical activities so participants can improve their knowledge and skills to improve and judge a feasibility study.
The training methodology will be a combination of conventional teaching, supported by real examples and case studies. Delegates will also be given the chance to work on short exercises to develop their skills.
The course leader will deploy a full range of dynamic and interactive training methods, including practical exercises, case studies, plus question and answer sessions. Each topic will highlight key issues to focus on in the general discussion. Above all the course leader will use examples of feasibility studies carried out in organizations with which he has been personally involved.
Prepare a robust and reliable feasibility report
Measure the impact of competing alternative possibilities
Demonstrate decision-making skills based on the interpretation of broad-ranging and potentially incomplete or conflicting information
Evaluate the risks facing a proposal and develop strategies to avoid or mitigate these risks
Present reports that result in practical and appropriate action
Understanding the importance of feasibility studies within business management
Contributing to creating a successful business plan based on feasibility studies
Being confident to identify and engage the correct stakeholders
Turning vision and mission into reality
Reviewing the impact of completed studies on renewing the business plan
Developing key indicators to track progress and performance
