Feasibility Plus A Business Plan is what any business need to be accepted. The feasibility study and business plan of your business or project is a road map. Intuitively, it’s what gives you direction in the business. There are lots of donors all around the world. Saddly, is only those who knows how to write winning feasibility study and business plans wins the fund. This is why knowing the keys to open the doors of funding is a prerequisite.
More On Feasibility Plus A Business Plan
Intuitively, there are more to business plans and Feasibility Study. Firstly, you must understand the difference between a feasibility study and a business plans. Watch of video Tag; Difference between Feasibility study and Business Plan. Similarly, see our Business Plans and Feasibility Study Report.
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The Elements of a Good Feasibility or a Business Plan
Those who do not do their homework do not graduate,” Bryce’s Law”! In its simplest form, a Feasibility Study represents a definition of a problem or opportunity to be studied. Similarly, an analysis of the current mode of operation, a definition of requirements, an evaluation of alternatives, and an agreed upon course of action. As such, the activities for preparing a Feasibility Study are generic in nature and can be applied to any type of project, be it for systems and software development, making an acquisition, or any other project.
The Project Scope which is used to define the business problem and/or opportunity to be addressed, Is one major tool for effective feasibility study. The old adage, “The problem well stated is half solved,” is very apropos. The scope should be definitive and to the point; rambling narrative serves no purpose and can actually confuse project participants. It is also necessary to define the parts of the business affected either directly or indirectly. Nevertheless, it must includ project participant and end-user areas affected by the project. Similarly, the project sponsor should be identified, particularly if he/she is footing the bills. I have seen too many projects in the corporate world, which started without a well-defined project scope, finally crashed landed at the long run. Consequently, projects without a well-developed break down structure usually wandered in and out of their boundaries. This causes complex problems for both the owners and executors
how requirements are defined depends on the object of the project’s attention. For example, how requirements are specified for a product are substantially different than requirements for an edifice, a bridge, or an information system. Each exhibits totally different properties and, as such, are defined differently. How you define requirements for software is also substantially different than how you define them for systems.
Furthermore, the Approach represents the recommended solution or course of action to satisfy the requirements. Here, various alternatives are considered along with an explanation as to why the preferred solution was selected. In terms of design related projects, it is here where whole rough designs (e.g., “renderings”) are developed in order to determine viability. It is also at this point where the use of existing structures and commercial alternatives are considered (e.g., “build versus buy” decisions). The overriding considerations though are: Does the recommended approach satisfy the requirements? Is it a practical and viable solution? Intuitively, a thorough analysis here is needed in order to perform the next step…
Also, examines the cost effectiveness of the approach selected. This begins with an analysis of the estimated total cost of the project. In addition to the recommended solution, other alternatives are estimated in order to offer an economic comparison. For development projects, an estimate of labour and out-of- pocket expenses is assembled along with a project schedule showing the project path and start- and-end dates. After the total cost of the project has been calculated, a cost and evaluation summary is prepared which includes such things as a cost/benefit analysis, return on investment, etc.
Review or appraisal
Furthermore, all of the preceding elements are then assembled into a Feasibility Study and a formal review is conducted with all parties involved. The review serves two purposes: to substantiate the thoroughness and accuracy of the Feasibility Study, and to make a project decision; either approve it, reject it, or ask that it be revised before making a final decision. If approved, it is very important that all parties sign the document which expresses their acceptance and commitment to it; it may be a seemingly small gesture, but signatures carry a lot of weight later on as the project progresses. Similarly, if the Feasibility Study is rejected, the reasons for its rejection should be explained and attached to the document.
In conclusion, it should be remembered that a Feasibility Study is more of a way of thinking as opposed to a bureaucratic process.
For example, what I have just described is essentially the same process we all follow when purchasing a car or a home.
Do you need a business plan to raise fund for your business?
Contact Us Today, Let’s Help You Prepare An Irresistible Business Plan And A Feasibility Study Report
Do you need a business plan to raise fund for your business?
We can carry out research and develop MBA grade business plans that you can present to a bank or investor. Intuitively, Chris Farm Nigeria develops well self-explanatory, irresistible feasibility studies or business plan for your Business start ups, Business Growth or Expansions through either personal funds, Grants, or loans, which could be new or existing ones. We delight in writing for people under Academic sectors, production sectors, manufacturing sectors, processing or packing sectors, advertising sectors, marketing sectors and other related sectors on mini, middle and large scale businesses.
For your Agribusiness, either production, processing, marketing of any Agro-industry, our feasibility studies or business plan are explicit.
General Info On Feasibility Study And Business Plans
Intuitively, our feasibility study and business plans are explicit. Likewise, becomes irresistible when you show them to your investors or sponsors. It gives you a clear picture of what you are to see. Especially, when you put the feasibility study or business plans into use.
More Info On Feasibility Study And Business Plans
Similarly, it shows how much it will cost you to own your desired business, what your money can afford. The kinds of product you will need to minimize input in other to maximize output. Likewise, how much returns you will get at the end of each accounting year until your business break-even on its initial investment capital. Lastly, this will give the intending business person or investor or farmer, a vivid idea on the possible benefit he or she stands to gain, when he or she starts doing the business. However, the intending business person or investor or farmer will not need a soothsayer to make decision for him or her.
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Intuitively, Our Business Plans and Feasibility Study Report has a unique content. Take a look at our it. Finally, be rest assured that we give you what you want if you place and order. For easy understand of your idea, Call us or send us an email for your request. And you will be Glad you did.
DIFFERENCE BETWEEN FEASIBILITY STUDY AND BUSINESS PLANS
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