Course Info
Code MG2-118
Duration 5 Days
Format Classroom
Course Summary
Change is essential for any thriving business, but the sad truth is that decision making and operational changes are often taken very lightly. Managers of processes will often jump in feet first, knowing that change is required, but without fully considering all of the potential outcomes and the possible threats that could be opened up by improper planning.
A proper feasibility analysis is designed to weigh up the pros and cons of each and every process to determine whether the plan will work ahead of creating a change framework or thinking strategically about how to implement any new procedures.
A feasibility analysis is invaluable as it allows you to discover what’s worth it and what isn’t when it comes to making changes and developing your company strategy. This means that you don’t waste time and resources on projects that won’t bring a return on your investment.
- To properly structure an effective feasibility analysis.
- To understand all of the components important for feasibility checking.
- To develop plans based on the economic and commercial company structure.
- To analyse findings and come to conclusions based on data.
- To create a forward-thinking plan of action to move your business forward.
- To understand the risk areas using a SWOT analysis and how to avoid them.
- To create contingency plans to ensure smooth running of change processes.
- To measure and monitor outcomes to move forward sensibly and strategically.
- To create links between strategic thinking and operational management.
This course is designed for anyone who is responsible for company or departmental strategic changes to acquire a return on investment. It would be especially beneficial for:
- Business Owners
- Directors
- Operations Managers
- Planning & Performance Managers
- Project Planners
- Finance Professionals
- Marketing Managers
- Team Leaders or Supervisors
- IT Professionals
- HR Executives
This course uses a range of adult learning styles to aid with group work and strategic thinking. The course contains practical activities and seminar discussions to determine the best course of action for an accurate feasibility analysis.
You’ll create decision trees utilising the best project management methodologies and real-life case studies as examples to create a future plan to move forward with your business.
Course Content & Outline
Section 1: The Concept of Feasibility
- What is feasibility?
- Why does your business need an accurate feasibility analysis before project rollout?
- The benefits of feasibility studies.
- What to include in your feasibility study.
- How to improve your process changes based on feasibility.
- Letting an idea go if it doesn’t look feasible.
Section 2: Accurate Analysis & Technical Research
- SWOT analysis
- Risk factors
- Assessing current position and steps needed to reach desired position.
- Quantifying that gap in resources and equipment.
- The cost of technological changes - are they possible?
- Past feasibility studies. What’s worked and what hasn’t?
- Analysis life-cycle and feasibility assessment.
Section 3: Economic & Commercial Factors of Feasibility
- Understanding your budget.
- Budgeting your proposed change.
- Contingency from problems and ability to provide economic solutions.
- Your innovation and its impact on the business model.
- Analysing tariffs, quotas and funding.
- Handling stakeholder expectations.
- Cross-cultural integration.
Section 4: Understanding Finances and Budgeting
- DCF and NPV considerations
- Securing finances from external sources.
- Understanding finance models for loaning.
- Creating plans for additional cost and how to distribute.
- Modify and reconsider financial planning to include additional resources where required.
Section 5: Management & Teamwork
- Writing your feasibility report.
- Accurate record keeping for future thinking.
- Presenting changes to gain buy-in.
- Motivating a team to work toward a central end goal.
- Dealing with outliers and planning for hurdles.
- Performance management structures to stay on task.
- Gaining management support.
- Workload sustainability.
Section 6: Future Thinking and Journey Mapping
- Feedback and review.
- Lessons learned.
- Modifying processes.
- Testing contingency plans and eliminating high risk areas.
- Identifying next steps to move forward.
- Audit processing and maintaining a future-proof environment.
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