Financial Viability

The other component of the initial assessment is a broad brush look at the main elements of a business plan. Initially there will be gaps in knowledge and evidence so it is a useful tool for identifying further research or other work that is needed. This can then be included in a detailed business plan once the initial assessment has concluded that the project is financially viable and feasible technically and legally.

The checklists below set out the main questions to be considered. An outline business plan template with suggestions about how to fill any gaps identified by looking at the checklists can be found here. A full draft Business Plan template can be accessed here. All templates will need to be customised to the specific needs of individual projects.

It is important to note that viability applies to the CAPITAL needs of the project and then the REVENUE needs of the project after capital investment is secured.

The checklists below provide some of the key items that need to be considered.

The initial assessment should also include a “time line” or Gantt chart for the project. These chart a specific timescale for the project against the tasks that have to be completed to enable planning to meet deadlines (for example funding deadlines or construction contract periods) and monitor progress.

 

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