The data analysis project plan illustrates many basic requirements of the project. The plan outlines the structure of the data, declares the objectives of the study, describes the data sources and identifies the procedures used to carry out the study.
Meaning, Contents and Significance of Business Plan! In simple words, business plan is a written statement of what an entrepreneur proposes to take up. It is a kind of guide frost or course of action what the entrepreneur hopes to achieve in his business and how is he going to achieve it.
In other words, business plan serves like a kind of big road map to reach the destination determined by the entrepreneur.
Webster New 20th Century Dictionary defines a project as a scheme, design, a proposal of something intended or devised. Let some important definitions of business plan be presented. So to say, business plan is initially an operating document. The business plan is termed by different names by its different intended interest audience.
Contents of Business Plan: Having gone through the significance of business plan, it is now clear that there is no substitute for a well-prepared business plan or project report and also there are no shortcuts to preparing it. The more concrete and complete the business plan, the more likely it is to earn the respect of outsiders and their support in making and running an enterprise.
Therefore, the business plan needs to be prepared with great care and consideration. A good project report or business plan should contain the following contents: Information on product profile and product details.
Exact location of the project, lease or freehold, locational advantages. Land area, construction area, type of construction, cost of construction, detailed plan and estimate along with plant layout.
Details of machinery required, capacity, suppliers, cost, various alternatives available, cost of miscellaneous assets. Description of production process, process chart, technical knowhow, technology alternatives available, production programme. Water, power, steam, compressed air requirements, cost estimates, sources of utilities.
Mode, possibility of getting, costs. List of raw material required by quality and quantity, sources of procurement, cost of raw material, tie-up arrangements, if any, for procurement of raw material, alternative raw material, if any.
Manpower requirement by skilled and semi-skilled, sources of manpower supply, cost of procurement, requirement for training and its cost.
Product mix, estimated sales, distribution channels, competitions and their capacities, product standard, input-output ratio, product substitute. End-users of product, distribution of market as local, national, international, trade practices, sales promotion devices, and proposed market research.
Requirement of Working Capital: Working capital required, sources of working capital need for collateral security, nature and extent of credit facilities offered and available.
Break-up of project cost in terms of costs of land, building, machinery, miscellaneous assets, preliminary expenses, contingencies and margin money for working capital, arrangements for meeting the cost of setting up of the project. Cost of Production and Profitability of first ten years.
Schedule of Implementation Significance of Business Plan: Arguments are made for and against writing a business plan.
The argument advanced against writing business plan is that it involves costs especially when some outside consultant or accountant or lawyer is hired to write the business plan.
One of the reasons for not writing business plan is the fear of prematurely closing off the new venture. The major argument made in favour of writing business plan is reducing anxieties and tensions in running business enterprise. Writing business plan is especially useful for the entrepreneurs who require financial help from the outside sources like banks and financial institutions.
The reason is that the outside sources advance funds to entrepreneurs based on the soundness of their enterprises as reflected in business plans. In nutshell, writing a business plan is not without its costs and sacrifices, nonetheless the benefits of it outweigh its costs.Writing the business plan will identify holes in your project and force you to think through various aspects of your plan that you previously had not identified.
2. Creating a blueprint for action - The business plan provides you with a “blueprint” or “action plan” for creating your business or business . Find sample business plans, free templates, writing guides and interactive tools to help you develop a professional business plan.
Business planning FAQ s Find the answers to questions often asked about preparing a business plan. The data analysis project plan illustrates many basic requirements of the project. The plan outlines the structure of the data, declares the objectives of the study, describes the data sources and identifies the procedures used to carry out the study.
Yet, almost every book project benefits from the creation of a pre-writing business plan. No matter how you want to publish your book, a business plan helps you produce a marketable, which equates to a successful, book. Purpose. The Project Management Plan (PMP) is a formal, approved document used to manage project execution.
The PMP documents the actions necessary to define. The business plan is termed by different names by its different intended interest audience. For example, when presented to a bank, it may be called ‘loan proposal.’ a venture capital group might call it the ‘venture plan’ or ‘investment prospects’ and a common man may term it ‘project report.’.