This course is aimed at anyone who needs to assess possible business opportunities including possible project management opportunities that are mainly, but not exclusively, based on an innovative technological concept. Rapid screening techniques are introduced, which will address the underlying business concept, the base technology, benefits to customers, potential markets, financial feasibility, risk and benefits to the organisation and the next steps to be taken. Opportunity screening protocols will be treated in depth and a comprehensive venture – screening guide will be developed during the course. The course covers all the key elements of a feasibility study for a new enterprise.
Prepare a full Opportunity Assessment and Feasibility report that outlines the potential of a technology or business concept of your own choice to form a new venture. IMPORTANT: This is not a business plan but a comprehensive analysis of a business idea/concept that recommends or otherwise whether the idea provides an arguable case to proceed with business startup activity and full business planning (if required). Make your recommendations clear and base these on clearly articulated conclusions drawn from your opportunity assessment investigations and analysis.
This can be a go, no-go, or go-if decision as long as it is clearly motivated. There are three possible recommendations for the business concept being presented:
1. Yes, this appears to be a feasible and sustainable opportunity that should proceed
to startup and business planning. The report should fully outline the reasons and rationale for this assessment to the reader of the report. Your report should further show what actions are next required to capitalise on the opportunity.
2. No, this is neither a feasible nor sustainable opportunity and startup and business planning are not recommended. The report should fully outline the reasons and rationale for this assessment to the reader of the report. In this case the report should also suggest a course of action in response to the rejected opportunity. This could include a recommendation on what may be done to re-position the opportunity, an outline of other areas of potential opportunity discovered through the assessment process or actions that might be required in response to others who may detect or seek to exploit the opportunity.
3. Yes, this may be a potentially feasible and sustainable opportunity and if certain conditions occurred or actions were achieved it should proceed as a startup and to full business planning. The report should fully outline the reasons and rationale for this assessment to the reader of the report. In this instance the report should outline the conditions and/or actions that must change or occur in order for the opportunity to be both feasible and sustainable. Where appropriate, the report should also recommend who should undertake further action and by when.
Consider using the frameworks and tools presented in the course.
This assignment will assess your understanding of the course objectives 4, 5 and 6.
Length and Presentation:
The body of the report should not exceed 4,000 words; however, appendices may be used for supporting documents or analysis to the extent that is appropriate. The report should be submitted as an electronic version in WORD or Adobe Portable Document Files (pdf).
Criteria by which your assignment will be marked:
• Ability to find, access and interpret available literature relating to the assessment
• Ability to apply the assessment principles presented in the course
• Originality and ability to present your findings in a clear succinct manner
• Ability to draw sound conclusions from your investigation
• Ability to make clear recommendations based on the analysis and conclusions
• The inclusion of external data and additional research
• The extent to which assumptions have been validated
• Succinctness and businesslike presentation
NOTE: Grading of this report is not a validation of the idea or business opportunity. Assessment is based upon your analysis of the idea and how will that analysis is used to argue your conclusions.: