Business Planning

Question 1

What is a business plan?

Answer 1

• Sets out the vision of a company and its objectives & goals.
• Typically, 3 or 5 years
• Includes strategies & actions to achieve goals
• Helps set budgets
• Monitors success

Question 2

What do you expect to see in a business plan/What would you consider when setting up a business plan?

Answer 2

• Overview of the business
• Key clients
• Key goals and objectives, short term and long term
• Financial goals
• Plans to achieve them
• Biggest challenges
• SWOT analysis

Question 3

Why do you need one?

Answer 3

Identify goals and objectives, how to achieve them, to assist aligning employees personal objectives and day to day roles to help meet the organisations objectives

Question 4

Types of business plan?

Answer 4

Short term, long term, growth focused

Question 5

Short term goal?

Answer 5

3-5 year

Question 6

Long term goal?

Answer 6

To become a market leader

Question 7

What is your company’s business plan?

Answer 7

• Outlines vision: we create sustainable solutions that connect people, data, and technology to design, deliver and operate the most complex projects
• Our priorities and what we will do
  
  • Sales and growth – leverage KAM and our frameworks to maximise market share in established markets and grow in industrial, defense, power and renewables through targeted investment, strategic pursuits and business wide cross selling
  • People and culture
  • Delivery excellence – deliver exceptional service with best practice empowered by our Technical Leadership Groups, GTC and AI
• Our 5 year ambitions include
  
  • Diversity at all levels representative of society
  • Delivering social value
  • 90% employee engagement survey response
  • 10%+ industry leading profitability (EBIT)
  • £500m revenue
• Our biggest challenges
  
  • Engineering Net Zero
  • Enabling Sustainable Infrastructure
  • Unlocking Social Value

Question 8

How do my daily activities help meet my company’s business plan?

Answer 8

Supporting key account management to support revenue targets, delivery excellence through APC

Question 9

What is the RICS’s current business plan?

Question 10

SWOT analysis?

Answer 10

• Method of assessing a business of market, used to help develop goals and business plan focus
• Strengths, weaknesses, opportunities and threats analysis

Question 11

PESTEL analysis?

Answer 11

• As above, method to review factors which influence a business or market
• Political, economic, social, technical, environmental and legal.

Question 12

What are KPIs?

Answer 12

Key performance indicators e.g., there is a contract administration KPI in one of my contracts for commercial submissions to be made on time

Question 13

What is happening in the rail sector?

Question 14

What is happening in the construction sector?

Answer 14

The impact of inflation on budgets has seen many projects cut back or delayed
There have been widely reported issues with sourcing skilled labour
Achieving net zero carbon emissions - in the UK, we have legally binding targets to achieve net zero by 2050

Question 15

You are starting a business, what do you need to do it?

Answer 15

• Register with RICS in line with rules
• Inform HMRC
• Insurances, PI, director and officers liability, building insurance
• Company and client bank accounts
• CHP
• Abide by the rules of conduct
• Locum

Question 16

You have started a firm, exploring new business opportunity?

Answer 16

SWOT analysis

Question 17

What procedures does your firm adopt to ensure they are profitable?

Answer 17

PSRs to monitor profit on projects, timesheets to assess utilisation, planning, objectives