Why Choose this Training Course?
Only one in fifty business ideas are commercially viable, so a great deal of time and money can be saved separating winners from losers. A Feasibility Study provides an expert approach to assessing the likely success of any new business venture – from a major project to the launch of a whole new business. By understanding the technical, commercial, financial and organizational viability of your idea you can eliminate non-starters before they eat up valuable resources. On top of that, you can enhance the likelihood of success of worthwhile projects and the value they deliver to your organization through greater insight into the challenges, risks and opportunities you will face.
This AZTech training course will feature:
- The key concepts and benefits of a Feasibility Study
- A step-by-step approach to describing a business idea and assessing its feasibility
- Creating a Feasibility Study report
- Assessing the risks and challenges facing new projects
- Winning support for a new business idea from key stakeholders
What are the Goals?
By the end of this training course, participants will be able to:
- Appreciate the essential role played by Feasibility Studies
- Confidently apply a methodical approach to conducting Feasibility Analysis
- Assess Technical, Commercial, Organizational and Financial feasibility
- Engage and involve key stakeholders to create ownership for new business ideas
- Create and ‘pitch’ comprehensive and engaging Feasibility Studies to senior stakeholders to enable effective business decisions
Who is this Training Course for?
This AZTech training course will benefit anyone who might need to take part in a Feasibility Study, including people responsible for leading or delivering substantial projects, such as the development and launch of new products, new services, new IT systems or large pieces of infrastructure. This training course is suitable for those relatively new to the discipline as well as to more seasoned managers who may need to review Feasibility Studies before helping to make important investment decisions and will also benefit:
- Project Managers
- Project Planners
- Managers responsible for launching new products and services
- Senior operations managers
- People launching new business ventures
How will this Training Course be Presented?
This AZTech training course will utilise a variety of proven adult learning techniques to ensure maximum understanding, comprehension and retention of the information presented. This training course focuses strongly on interactivity and practical exercises. Short presentations are combined with extensive discussions, relevant videos, team activities and case study exercises. Examples from the delegates own organizations are used to bring training to life and to ground it in reality. An opportunity for teams to pitch brand-new business ideas invariably proves to be the highlight of this hands-on course.
The Course Content
Day One: Introduction to Feasibility Studies
- What are feasibility studies and why are they important?
- Feasibility studies: definitions, principles and concepts
- Feasibility Study Components and Process
- Technical Feasibility
- Commercial Feasibility
- Organizational Feasibility – people, competence and resources
Day Two: Financial Feasibility
- Financial Feasibility – costs, return on investment
- Cost classification and estimation
- Non-Discounting Methods and Discounting Methods
- Prepare Your Capital Spending Plan
- Prepare Your Cash Flow Forecast
- Required Investment for Your Business
Day Three: Project Options and Risk Assessment
- Project requirements
- Performing an Options Analysis
- Option Generation and Selection
- Risk Management process and application
- Estimating Risk and Quantitative Risk Analysis
- Risk Response Planning
Day Four: Gaining Buy-In to Project Planning
- Components of a Feasibility Report
- Developing the Feasibility Report
- Project Planning
- Critical Path Analysis
- Tips to preparing an impactful Business Plan
- Preparing to pitch your business idea - facing ‘The Dragon’s Den’
- Case studies
Day Five: Presenting a Business Idea
- The characteristics of engaging communication
- Multiple Intelligences
- The Learning Cycle
- Lessons Learned and Personal Action Plan
- Pitching a Business Idea
- Simulation and role play
- AZTech Certificate of Completion for delegates who attend and complete the training course
- The applicable PMI Professional Development Units/Contact Hours will be reflected in the Certificate of Completion
AZTech as an A.T.P. (Authorised Training Partner) has been approved by PMI to issue applicable Professional Development Units (PDUs) for its Project Management training courses. PMI allows credential holders to apply PDUs to the maintenance of their credentials where one contact hour of training is equivalent to one PDU.
PMI is a registered mark of the Project Management Institute, Inc.