Kategorier: Alle - feasibility - evaluation - technical - resource

af Rozaimi Razali 29 dage siden

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Feasibility Study

A feasibility study is a crucial step in determining whether a project is viable from multiple perspectives, ensuring that all aspects are thoroughly evaluated. The study encompasses various types of analyses, including technical and operational assessments.

Feasibility Study

Feasibility Study

why?
aid in decision making
project team can be more focus
help in narrowing business alternatives
to show the impact/contributions of an idea
to determine probable income
to identify opportunities and threats
to find probable market for our product/service
to find well-organized solution
to find cost-effective solution
how?
provides a guideline for development and delivery
decide what type of system can be developed to match the needs of the organization
make recommendation on the best solution
analyze all possible solutions to a problem
what?
a team effort requiring

cost

efforts

time

an analysis of the viability of

product

project

service

initiative

idea

Types of feasibility study

Operational analysis

Forecasting Uncertainty

operational analysis usually involves making forecast about future operation e.g. market demand and cost inflation

Interdependencies

Some operations are often interdependent with one another such as market demand and financing

Complexity of Operations

In certain healthcare businesses some have complex processes which requires expertise and resources.

Data quality

Inaccurate or incomplete data can lead to flawed conclusions and decisions

Data availability

Gathering accurate and up-to-date data require access to proprietary or confidential information from existing businesses that are not readily available

Quality Assurance

ensure that the business can consistently deliver products or services that meet or exceed quality standards, enhancing customer satisfaction and reputation

can ensure that the business has the necessary resources in place to function effectively

Efficiency and Cost Optimization

can lead to reduced operational expenses and increased profitability

Risk Identification and Mitigation

allows for the development of mitigation strategies and contingency plans

can identify potential operational risks and challenges early in the planning process

Improved Decision-Making

provides valuable insights into how a business will operate on a day-to-day basis

Employees survey

provide insights into the availability of skilled labor and workforce requirements

Customer feedbacks

offer insights into customer expectations and preferences

important for designing and optimizing operations

financial statements

can help in understand industry financial norms and trends

market research

provide insights to critical aspects of operation planning

industry benchmarks

market trends

customer demand

business documentation

business charter

business plans

proposals

Resource requirement assessment

estimating the resources needed for project operations

material

equipment

personnel

Flowcharts

visually represent the step-by-step processes involved in the project's operations to identify

areas for optimization

identify inefficiencies

identify bottlenecks

SWOT analysis

Identify operational areas where the business can capitalize on strengths, address weaknesses, exploit opportunities, and mitigate threats

Threat

Mitigating Threats to Improve Day-to-Day Operations

WellCare Medical Center is primary care clinic offering a range of healthcare services

the clinic takes a proactive approach to mitigate these threats

the clinic hire a compliance specialist that closely monitor changes in healthcare regulations

reduces the risk of non-compliance penalties and audits from regulatory bodies

the clinic invest in robust cybersecurity infrastructure including firewalls and encryption

this increases the confidence that the patient data is secured

threats

Healthcare Regulatory Changes

frequent changes in healthcare regulations

this create challenges in maintaining records and procedures according to the regulations

Cybersecurity Risks

increase in cyber threats e.g. data breach

this pose a serious risk to patient personal and clinical information

Opportunity

Exploiting Opportunities for Improved Day-to-Day Operations

HealthAdvise Consultants is a healthcare consultancy firm specializing in healthcare technology implementation

the company wants to leverage the 2 trends that is happening in the healthcare industry

Telehealth Integration

the company implement telehealth integration in their day-to-day operation

the company is now able to

align its services with real-time market needs of its customer

Advanced Analytics Solutions

the company hire skilled data analytic workers to utilize the analytical tool

the company is able to

enhance operational efficiency

improve patient outcomes

optimize resource allocation

opportunities

Telehealth Services

there is an increasing demand for telehealth services post COVID-19

Healthcare Analytics

there are many analytical tools developed for healthcare related purposes post COVID19

Weaknesses

Addressing Weaknesses for Improved Day-to-Day Operations

Sunshine Medical Clinic is a small healthcare clinic specializing in general family medicine and primary care

the clinic recognized they have the two weaknesses and so they come out with a way to improve their day-to-day operations

realizing the weakness, the clinic build a user-friendly website which includes onlin-booking, list of experts and their expertise, contact information and ability for patient to see their health records online

current customers feel empowered and does not seek alternative clinic

potential customers can search about the clinic and their expertise

realizing they do not have an Electronic Health Record (EHR), the clinic invest in one

patient history can be accessed quickly and no errors in the information

weaknesses

Limited Online Presence and Patient Engagement

the clinic has very minimal online presence

hard to attract new customer and difficult to engage with current ones

Outdated Patient Record System

the clinic relies on paper-based patient records, which are time-consuming and error-prone

difficult to access patient history quickly

Strength

Leveraging Strengths for Improved Day-to-Day Operations

XYZ Electronics is an electronics manufacturing company specializing in consumer electronics e.g. smartphones

scenario

company is experiencing increased demand

to keep up with the demands, the company resort to its strength

workforce empowerment

utilizes its highly-skilled workforce to do innovation

usually it takes 3 hours to create 1 phone but with a new innovative method from highly skilled workforce, it can take only 30 mins to create 1 phone

cutting-edge tech

utilizes its proprietary software for quality control

e.g.

instead of 1 QA officer per 100 phones, with the proprietary software, the rate can be increased to 1 Q per 1000 phones

strengths

workforce

company has a skilled and experienced workforce

as a result

due to their experiences, they can come out with new innovation

usage of technology

the company has invested heavily in R&D in the past 5 years

as a result, now they have

proprietary software for quality control

state-of-the-art manufacturing technology

assessing the practical aspects of a business

Technical analysis

Data Quality

Market Dynamics

Assumption of Efficiency

Cost Estimation

Resource Optimization

Industry Events and Conferences

Supplier Agreements

Company Records

personnel records

inventory records

Internal Documentation

Technical specs

project plans

Cost Analysis

Supplier Evaluation

Technical Skill Sets

Technology Compatibility

Resource Assessment

evaluating the technical aspects required to execute a project

Financial analysis

External Factors

Differences in accounting methods

Reliability of financial data

Lack of Transparency

Better Resource Allocation

Cost Control

Identify Financial Risks

Informed Decision-Making

Assessment of Financial Performance:

Financial databases

Stock exchanges

Credit ratings agencies

annual/quarterly reports

Financial statements

cash flow statement

balance sheet

income statement

credit analysis

the process of evaluating the creditworthiness of individuals, businesses, or other entities that are seeking to borrow money or obtain credit

How do one check for creditworthiness of a business?

Credit scores history

Experian

provide credit scores and reports to lenders and consumers

a global credit reporting agency that operates in many European countries

The Qatar Credit Bureau

Lenders and financial institutions in Qatar typically use the data provided by the Qatar Credit Bureau to assess credit risk

collects and maintains credit information on individuals and businesses in Qatar

the primary credit reporting agency in Qatar

FICO score

mainly in the USA

FICO scores typically range from 300 to 850, with higher scores indicating better creditworthiness

provided by the Fair Isaac Corporation

one of the most widely used credit scoring models

Obtain the company's credit history and payment history from credit reporting agencies

Late payments or a history of defaults can be red flags.

Financial statement

Cash Flow

Cash flow trends

Positive operating cash flow

if a business has a positive and steady cash flow trend, the creditworthiness increases because it assures lenders that the business can pay their day-to-day operations

Balance sheet

Assets

Fixed assets (e.g., real estate) can be used as collateral

this will increase creditworthiness of a business because if the business used the fixed assets as guarantee for a loan

Income statement

can provide information regarding Revenue Growth

Steady or increasing revenue over time is generally a positive sign of a healthy business.

If there is positive growth every year, the chances of the business not being able to pay back the loan/credit is low

creditwothiness

how confident the lender (the one who gives out credit) thinks the borrower (the one who received credits) will be able to pay back

breakeven point (BEP)

is used to determine how much sales volume your business needs to do before start making a profit.

the point where cost = revenue

Limitation

based on a number of assumption

all goods produce get sold

variable cost are constant through out production

fixed cost is constant

is only for supply side analysis

it does not tell you about what or how you should conduct your sales.

Equation

to calculate BEP

BEP=F/(P-V)

example

How many number of products need to be sold before I start making a profit? i would like to produce 100K of product X given

selling price

12 QR per unit

variable cost are

0.80 QR per unit

delivery

4 QR per unit

ink

2.20 QR per unit

paper

fixed cost is 30k

P = The amount of money charged to the customer for each unit

a.k.a Selling price

2 types of cost

Fixed cost (F)

roughly the same regardless of production/sales

insurance

wages

rent

Variable cost (V)

costs that change with changes in production/sales

material cost

useful when you're developing a pricing strategy

Dynamic Pricing

a flexible strategy where prices are adjusted in real-time based on market demand

Risk of price discrimination allegations if not managed carefully.

Requires sophisticated technology and data analys

Frequent price changes may frustrate customers

Stay ahead of competitors by offering timely price adjustments

Quickly adapts to supply and demand fluctuations

Maximizes profits by capturing consumer surplus

Bundle Pricing

a strategy involving selling a set of products or services together at a single discounted price

May devalue individual products if always sold at a discount.

Managing bundles adds complexity to inventory control.

Discounts may lower profit margins

Helps move less popular items by bundling them with bestsellers

Customers feel they are getting a deal

Encourages customers to buy more items

Tiered Pricing

a strategy where multiple pricing levels for a product is offered based on customer needs and budget

Disadvantages

Requires careful planning to balance value across tiers

Too many options might overwhelm customers

More complicated to manage and market multiple tiers

Effectively targets different market segments

Encourages upselling as customers may opt for higher tiers

Provides options to meet diverse customer needs

Cost-Plus Pricing

a strategy where a fixed percentage is added to the production cost of a product

Disadvantage

May result in prices that are too high for the market, reducing sales.

Less incentive to minimize costs since they can be passed on to consumers.

Doesn't consider customer willingness to pay or competitor pricing

Advantage

Provides a consistent profit margin on all products

Guarantees that all costs are covered, reducing the risk of losses

Easy to calculate/implement

evaluation of the financial performance and health of a business

seeks to ascertain the financial viability of the proposed project/idea

will it provide a good return on invesment?

can the business pay the debt?

Market analysis
Challenges

Market Uncertainty

Global Variations

Limited Predictive Power

Data Reliability

bias

accuracy

Data Availability

Advantages

Assess Growth Potential

Identifying Market Opportunities

Understanding Customer Needs

Resource Allocation

Help in Risk Mitigation

Source

document research

Market research reports

Business statistics

Business directories

online research

online database

newspapers

search engines

internal sources

customers' complaints

customers' comments

accounting records

sales figures

Methods

Desk research

our healthcare example

Analytica

Subtopic

MGI

protocol

analystics

census data

newspaper

government reports

online databases

literature reviews

market/industry reports

Secondary research

collecting and analyzing existing data and information that has been previously published

Field research

examples

training

Online survey

Purchase survey

Postal survey

Telephone interview

Face-to-face interview

Primary research

collecting and analyzing new data to generate information

Definition

a systematic analysis of factors that affect a specific market

key example questions

What differentiate my product from others?

analytica

dna extraction + pre-pcr < ~ 1hour

FASTER sample prep

What are my competitor offering?

Bioneer

dna extraction ~40 mins

wo pre-PCR

only dna extraction

carry MGI

dna extraction ~1 hour

reagent prep takes time ~30 mins

What does the customers want?

dna extraction

rt-pcr

sample prep

sequencing reagents/equipments

Who is the target customer?

Labs

macrohealth

sidra

hmc

Who are the competitors?

MedTech

Qatar Scientific

What is the market?

healthcare

providing laboratory equipment

OBJECTIVES

The different types of feasibility study
How feasibility is used
To define feasibility study