Course description
A feasibility study is a vital method to safeguard against the wastage of scarce resources and investments. By implementing feasibility studies, companies can lower the risks of building unpopular and impractical projects. A feasibility study is conventionally carried out before writing a business plan and serves as a blueprint or roadmap for the business.
What are the benefits of feasibility studies?
A feasibility study evaluates the practicality of a proposed business plan or project. It analyses a project’s viability and merits to determine its success and shortcomings. There are several benefits associated with feasibility studies, including assisting project managers in determining a project’s likely pros and cons before conducting investments. It also offers the management team vital data that could prevent them from venturing into risky business enterprises. Feasibility studies allow organisations with new business development plans to discern their mode of operation, potential obstacles, amount of resources and finances needed, and market analysis.
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Suitability - Who should attend?
Who Should Attend?
The following personnel should attend The Feasibility Studies and Business Planning Training Course by Rcademy:
- Project managers:tasked with planning and allocating project resources, supervising project progress, and reporting to relevant stakeholders
- Change managers:responsible for supervising and overseeing changes in organisational processes, job rules, structures, technology, and systems
- Company directors:tasked with overseeing the management of a company, its financial operations, investments, and ventures
- Business analysts:tasked with conducting market analyses, evaluating product lines and the profitability of a business enterprise
- Chief Executive Officers:responsible for overseeing the administration of a corporate entity
- Executive Directors:charged with developing and executing strategies aimed at improving an organisation’s mission goal
- HR professionals:responsible for supervising all aspects of the employment process, training and orientating new staff
- Asset Managers:responsible for managing the assets of a company and also executing programs that raise the value of a company’s assets
- Functional managers:tasked with monitoring the daily operations of the organisation’s unit, providing directions to staff, and executing company procedures
- Financial analysts:charged with evaluating the financial reports and statements of a company and making future economic predictions
- Management accountants:responsible for recording and analysing data, assisting companies in selecting investments, budgeting, and decision-making
- Operations managers:tasked with monitoring the operational activities of each level of an organisation
- Financial Auditors:entrusted with analysing financial statements, papers, data, and accounting entries for the company
- Risk managers:responsible for reviewing and evaluating risk management protocols and policies, making recommendations, and working on improvements
- Individualsinterested in learning about the basics of a feasibility study and business planning
Outcome / Qualification etc.
The Feasibility Studies and Business Planning Training Course by Rcademy is aimed at assisting participants in achieving the following objectives:
- Understand the rudiments of feasibility studies and business planning and how to integrate feasibility into a business plan
- Learn about the relationship, similarities, and differences between business planning and feasibility study
- Recognise the core elements of business planning and feasibility studies
- Learn about the tools, techniques, processes, ad models of feasibility studies and business planning
- Learn how to conduct an effective and robust feasibility study
- Understand the importance of feasibility studies and the types of feasibility studies
- Learn how to establish objectives for a business plan
- Recognise the various problems and challenges associated with a feasibility study and how to overcome them
Training Course Content
Module 1: Introduction to Feasibility Studies
- Overview and definition of terms
- Importance of feasibility studies
- Principles of a feasibility study
- Types of feasibility studies
- The cycle of feasibility
- Objectives and concepts related to the feasibility study
- Risks and opportunities related to feasibility studies
- Preparing for feasibility
- Recognising options for feasibility analysis
- Problem-solving and creative thinking feasibility analysis
Module 2: Elements of Feasibility Study
- Marketing feasibility – Sales projection analysis – Market research and analysis – Market research data types
- Organisational feasibility
- Financial Feasibility – Indirect costs – Project costs – Ongoing costs
- Technical feasibility – Operational feasibility – Critical feasibility – Supply feasibility
Module 3: Fundamentals of Business Planning
- The business planning process map
- Types of business planning
- Relationship, similarities, and differences between feasibility studies and business planning
- Business planning objectives
- Strategic planning and business analysis
- Framing the business value proposition
- Business planning and integrated strategic
- The business planning process and key stages
- Setting your strategy, mission, and vision
Module 4: Financial Models and Accounting Models of Feasibility
- Cost of equity
- Financial analysis methods
- Weighted Average Cost of Capital (WACC)
- Discounting methods
- Capital Asset Pricing Model (CAPM)
- Internal rate of return
- Unlevered Free Cash Flow (UFCF)
- Net present value
- Non-discounting methods
- The terminal value of the project
- Developing a financial model for a feasibility study
Module 5: Planning a Feasibility Study
- Understanding the business need
- Stakeholder engagement
- The workings of a feasibility study
- Creating and protecting the value
- Recognising where feasibility study takes place in a business plan
- The steps involved in feasibility studies
Module 6: Considering Risks and Options Involved
- Establishing cost estimate
- Creative thinking and problem-solving
- Performing an options analysis
- The risk management process and application
- Differentiating between wants and needs
- Recognising and evaluating the risks of a preferred option
- Recognising and managing vital stakeholders
Module 7: The Strategic Context of Business Decisions
- Business direction
- The strategic context for business plans and feasibility studies
- Alignment with mission and vision
- Key trends and driving forces
- Value proposition
- SWOT analysis
- Five forces analysis
- Competitor analysis
- PESTEL analysis
- Contents of a business plan
- Vital business areas and critical success factors
Module 8: Engaging with Stakeholders and Preparing the Report
- Developing a feasibility study report
- Relating the study to corporate strategy and objectives
- Financial analysis techniques
- Designing robust strategic thinking skills
- Stakeholder presentation
- Designing the correct structure to take the feasibility study to the stage of business planning
- Identifying the features of proper communication
Module 9: Recognising and Assessing Available Alternatives
- Choosing the preferred option
- Understanding stakeholders – Criteria for option analysis – Needs analysis
- Scenario and sensitivity analysis
- Risk management considerations
Module 10: Designing an Effective Business Plan and Business Planning Tools
- Transforming an inspiring concept into a business plan
- Components of the business plan
- The business planning process
- Global trends
- Importance of a business plan
- Identifying a culture of continuous improvements
- Traditional and non-traditional metrics of business plan measurement
- Evaluating a business plan against a feasibility study
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Rcademy is a global training and consultation organisation set out to bridge the gap between you now and what you can be in the near future. We are facilitators of knowledge impartation. Our team of established and experienced training enthusiasts...