Feasibility Studies: Preparation, Analysis and Evaluation
Evaluating the potential success of new business venture
£5800.00£5250.00
Introduction
In the business world, only one in fifty ideas ever evolves into a successful venture. The ability to differentiate between promising ideas and non-starters can save valuable resources. A Feasibility Study is the cornerstone for evaluating the potential success of any new business venture, whether it's a major project or the launch of an entirely new business.
This course offers
A comprehensive understanding of Feasibility Studies.
A systematic approach to describing, assessing, and reporting on business concepts.
Insights into identifying and mitigating risks and challenges.
Strategies to gain support from key stakeholders.
What are the Goals?
By the end of this course, participants will be equipped to:
Recognise the vital role of Feasibility Studies.
Methodically conduct Feasibility Analysis.
Assess Technical, Commercial, Organisational, and Financial feasibility.
Engage key stakeholders and generate ownership for new business concepts.
Create compelling Feasibility Studies to guide effective business decisions.
Who is this Training Course for?
This course is beneficial for anyone involved in Feasibility Studies, including individuals responsible for leading substantial projects, launching new products or services, implementing IT systems, or overseeing infrastructure development. It's suitable for newcomers to the field as well as experienced managers who need to review Feasibility Studies for significant investment decisions. This training will also benefit:
Project Managers
Project Planners
Managers overseeing product and service launches
Senior operations managers
Aspiring entrepreneurs
How will this Training Course be Presented?
The training employs various proven adult learning techniques to ensure comprehensive understanding and retention of the content. It emphasises interactivity and practical exercises, including short presentations, group discussions, relevant videos, team activities, and case studies. Real-life examples from participants' own organisations bring the training to life and make it relevant. The course culminates in a team activity where participants pitch brand-new business concepts, a highlight of this hands-on course.
Course Content
Day One: Introduction to Feasibility Studies
Understanding the importance of feasibility studies.
Key definitions, principles, and concepts.
Components and process of a Feasibility Study.
Technical, Commercial, and Organisational feasibility.
Day Two: Financial Feasibility
Evaluating costs and return on investment.
Cost classification and estimation.
Non-Discounting and Discounting Methods.
Capital Spending Plan and Cash Flow Forecast.
Day Three: Project Options and Risk Assessment
Identifying project requirements.
Conducting Options Analysis.
Generating and selecting options.
Managing risks and quantitative risk analysis.
Day Four: Gaining Buy-In to Project Planning
Crafting a comprehensive Feasibility Report.
Developing the Feasibility Report.
Project Planning and Critical Path Analysis.
Preparing an impactful Business Plan.
Day Five: Presenting a Business Idea
Effective communication characteristics.
Multiple Intelligences and the Learning Cycle.
Lessons Learned and Personal Action Plan.
Pitching a Business Idea through simulation and role play.
Certificate of Completion: Upon successful completion of the course, participants will receive an Al-Majd Pathways Centre (APC) Certificate of Completion.